Government Operations committee  As we've already alluded to, there already is a 10-year capital plan that has been provided, that the new purchaser is required to invest into the building to create and improve. So for mechanical systems, elevators, or whatever has been determined to be not up to current standar

Government Operations committee  Again, if I can go back to the minister's statement of some time back, he has already revealed the fact that the purchaser will be responsible for--as he refers to it--the superstructure, what we would call the cladding of the building, the exteriors of the building. That is bein

Government Operations committee  I think part of the process that we've explained is the capital repairs. In the case you mentioned—I think you said $4 million—part of the obligation is being passed over to the new purchaser to undertake. That's part of the reason for carrying out this exercise. At the same time

Government Operations committee  In order to qualify, there is a requirement to have a certain Canadian content in the purchase.

Government Operations committee  I'm not sure I said that.

Government Operations committee  Yes.

Government Operations committee  The lease that we have structured protects you, because it does allow for recovery of the types of capital repair that are required, that would be required, and that would be there for the mutual benefit of both parties. There's obviously an incentive on the landlord's part to ma

Government Operations committee  If I may add about the lease, the fact that they are conventional office buildings is also a relevant point, because they can be utilized by all of your other resources, other user groups, when and as needed. They're not so unique that in 15 or 20 years you won't have other user

Government Operations committee  I somewhat referred to that earlier. Some of those buildings are what we would refer to as “value-adds”, where there is still work to be done to create value. They may be development lands, and the highest invest use may not be the existing office building that's sitting on them.

Government Operations committee  The nine in particular that are being sold, as Carolyn has said, are being marketed as a package of nine, or as an individual alternative, or potentially could be broken up regionally. The value will absolutely be optimized through this process. The value of buildings that have n

Government Operations committee  It was mentioned a little while before that the old-style government lease, which in fairness was designed, I presume, as a cost-saving measure because it eliminated the right or the need for the government as a tenant to pay for certain expenses, i.e. for capital items and so on

Government Operations committee  First of all, we appear to have lost $100 million from the last member's estimate of value. But the fact is that the values that were in the paper have very little, if any, relevance to real market. As an example, there are certain assets, I know, that the government acquired tha

Government Operations committee  This comes back to my first point of the split between the services of property management and asset management. Hiring a property manager is easy; you already have one. Making the important decisions on where the money gets spent and why is the real key issue, and that's where a

Government Operations committee  I'll try. I'm not 100% sure that I'm clear, although I would suggest--

Government Operations committee  I don't understand the question. You want to raise the funds? Do you mean you want to finance it yourself?