Mr. Speaker, in response to part (a), as of September 30, 2022, under the shared equity mortgage providers, or SEMP, $28.95 million has been committed to date, of which $5 million has been advanced.
In response to part (b), eight applications for SEMP have been received; seven have been approved with a signed letter of agreement, of those two are at the advanced status where we disbursed the funding; one has been denied; and zero are received but pending.
In response to part (c), the program offers to eligible proponents repayable loans from one of two possible funding streams. Preconstruction loans, or stream one, offers funding for preconstruction cost loans to commence new housing projects in which shared equity mortgages will be provided to homebuyers via SEMPs. Shared equity mortgages, or stream two, offers loans to SEMPs to fund shared equity mortgages that they provide directly to first-time homebuyers.
SEMP is not a construction financing program and as such we do not have a view on the stage of construction for projects supported by the program.
In response to part (d), our financial commitments to date under the SEMP program will support the creation of 1,018 new home ownership units, which are all located in Toronto, Ontario.