Thank you, Mr. Speaker. Today you heard my Member’s statement about a huge concern about land use for small communities on settled claim areas. On March 3rd, 2016, my colleague from Tu Nedhe-Wiilideh addressed similar issues. Therefore, Mr. Speaker, my question is directed to the Minister of Lands. Mr. Speaker, can the Minister of Lands please advise this House what the difference is between a regular lease and an equity lease? Thank you, Mr. Speaker.
Minister of Lands.
Thank you, Mr. Speaker. Mr. Speaker, a standard residential or recreation lease is the lessee charges a rental 10 per cent of the assessed value of per annum for the life of the lease. An equity lease is under typical residential or recreational equities. The lessee is charged 10 per cent of the assessed value per annum for the first 10 years of the lease and the lessee is usually charged a nominal amount of one dollar for the remaining years on the lease. Thank you, Mr. Speaker.
I thank the Minister for his answer. Mr. Speaker, can the Minister of Lands please advise this House when the Government of the Northwest Territories stopped offering equity lease in unsettled claim areas?
Equity leases are still an option for clients under the land pricing policy in the unsettled areas.
I'd like to thank the Minister for his answer. I guess it's a little different than what I've heard in the past so I'll have to follow up later on. It is my understanding there has been no sales of lands under the type of equity leases that occur in my riding. Now, I've heard that there is an exception to this comment and that Cassidy Point lands which has happened this past sales of the lands, have happened this past year where there's been a historical commitment to provide fee simple title. Can the Minister explain how Cassidy Point land which is an unsettled area can be sold and the same cannot be done in Fort Simpson?
In 1992 there was a commitment made by then assistant deputy minister of Municipal and Community Affairs. It was a written commitment to the folks out at Cassidy Point that they would have the opportunity after leasing for a while to pay fee simple at the end of the life of the lease. We have to honour a commitment, the written commitment, that was made, so we did that. However, what they pay out there was not the one dollar that the Member may be referring to. It was actually a portion of the assessed value of the land and so there was no one dollar nominal fee charged to the residents out there.
Masi. Oral questions. Member for Nahendeh.
Thank you, Mr. Speaker and the Minister for his answer. He answered part of it but he didn't answer the second part, but I'll work on that a little bit later on. With the number of outstanding issues with the lands in our small communities, will the Minister make a commitment to have his department get out there and provide the information to the residents especially elders and equity lease owners out in my riding, so they understand the process so they can actually afford to live in our ridings? Thank you, Mr. Speaker.
Thank you, Mr. Speaker. Mr. Speaker I will make that commitment. In fact, it's already happening in the Member's community where we had a member of our regional office meet with the Chamber of Commerce. I believe it was on May 26th and it was a very informative session from what I've been told, and they had a lot of questions, and they had a bit better understanding of how it works, but I will make a commitment to have our folks… It's part of our jobs too as representatives for our ridings is to share the information that we know with our constituents so they'd have a better understanding. Our department can assist in that by having some community workshops and getting some communication material out there so folks have a better idea of how the land leases and pricing policies and all that work. We are going to do some modernization to the land pricing policy. I believe that it's in the works now. We're looking at the fall of 2016 to bring some of the revised policy before committee and seek their input before we move forward. Thank you, Mr. Speaker.
Masi. Oral questions. Member for Mackenzie Delta.
