Human Resources committee  Absolutely. Thank you for the question. I would say that between 2020 and early 2022 we had lots of cases where rates had gone up and made a lot of the projects unviable. We actually stepped up and provided more funding in terms of contributions to make those projects work. Tha

Human Resources committee  The majority of files that are withdrawn, either by the proponents or by us, are generally withdrawn because of viability reasons. There is either a funding gap in the project, or the project is not viable, based on the rents and the cost of construction.

Human Resources committee  Generally speaking, when we evaluate a project we provide a conditional commitment, if it's a viable project, within 100 days. Once a project receives a conditional commitment, we work with our clients to move them to a state where they are ready for funding.

Human Resources committee  If we are looking at contribution-only files, these are done within 30 days. For files where there is a loan component, we work with our clients very closely to try to give them that answer as quickly as possible. Currently we do that within 100 days.

Human Resources committee  Thank you very much, Mr. Chair. For any projects that have funding committed to them, the funds are there for them. With regard to the spending, we actually advance funding as the projects build—

Human Resources committee  The numbers that my colleague here had cited earlier are not spoken for. There is roughly $2.5 billion in low-cost loans still available, as well as about $150 million of contributions not yet spoken for.

Human Resources committee  Thank you, Romy. There are just two points I'd like to make. First, 74% of the units we have committed funding to have met and exceeded our affordability criteria. In terms of depth, we are actually at 57% of median market rent.

Human Resources committee  I'm sorry, Romy. I'll jump in there.

Human Resources committee  Thank you. As Romy mentioned, our program is definitely meant to achieve different levels of affordability. Our program criteria define affordability as units that are at or below 80% of median market rents, and our program criteria requires at least 30% of the units to be affor