Thank you so much.
The City of Toronto this year has put $20 million into the MURA fund. If we assume that the top amount allowed per unit, $200,000, is provided for those projects, that would produce 100 units. If the City of Toronto, for example, received $200 million or more from the federal government, we could exponentially increase the number of units that could be produced.
I think quick funding of municipal programs, where those municipal programs exist, would create a quick impact. You're correct to say that, as we are seeing escalation in interest rates, the sooner we act, the better. In addition, I think as we continue to see both the pressure of COVID and the economic pressure on vulnerable people as well as on rents, we could see an escalation of the homelessness crisis. Therefore, the faster we act, I think the more likely we can sort of curb that increase in the homelessness crisis and ensure that people are in secure housing.
I think, of course, that putting out money soon would be very beneficial.
Then, as was said earlier, I think it also would be important to sustain it for some period so that projects could come together over time. Projects aren't always possible today. Sometimes in two months, three months or a year, additional or alternate projects, great projects, can come forward.
Having a program with sustained funding that allows proposals together over multiple years would be beneficial.