I'm very familiar with it. In fact, I asked one of our senior officers, who retired about eight months ago, to stay on in a consultancy arrangement to focus exclusively on this on our behalf.
There are approximately—if my numbers serve me correctly—60 housing cooperatives in Ontario. They exist right across the country, but we focus simply in Ontario, where there are about 60 in Ontario that are in the situation you very aptly described. They still have long-term mortgages on their properties, and they have significant challenges with respect to the aging infrastructure of their facilities.
We've been working with the national Co-operative Housing Federation on this pilot to establish a mortgage product. Utilizing today's record low interest rates—which certainly, if they committed today, would be committed for another five years—to allow them to take equity out of their housing co-op to pay for necessary expenses.
We're in the latter stages of putting together the first financing package for a housing cooperative in the Milton area. We haven't completed it. There are a couple of things that are still being worked out that are outside of our control. The most notable one, I believe, is that they still have mortgages with CMHC, and the national institution is negotiating with CMHC on that.