In the early 2010s, a board committee examined the issue of selling assets in order to generate revenue and contain costs, as the Auditor General pointed out. The committee, together with NCC management, identified some 90 properties that could in theory be sold.
When I took over as CEO in 2014, I conducted a review, together with the executive. I determined that nine properties could easily be sold. A score of considerations come into play for each property. After visiting the nine properties, we decided to ask Treasury Board to initiate the sale of those assets. We were given approval to sell four of them, I believe. My team can check the exact number.
To date, we have initiated the sale of two of the properties. It's a lengthy process because we have to advise all federal partners of our intention to sell, including Indigenous and Northern Affairs Canada. Then, we can initiate the process. We have sold two assets, but we want to keep up those efforts. The revenues from the sale go into the acquisitions fund, and that money can be used only to purchase national interest land mass.