Right Hon. C. D. HOWE (Minister of Reconstruction):
I am able to make a statement at this time. General policy of the sale of Wartime Housing houses to tenants has been introduced'. It is contingent, however, in most cases, on the municipality concerned being prepared to negotiate a new agreement permitting this sale. When this renegotiation is
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completed and the land surveyed, tenants are given the .opportunity of purchasing under conditions outlined hereunder, or, alternatively, they may remain as tenants. The conditions of sale are:
(a) Sale is effected only to tenants.
(b) Minimum down payment of fifteen per cent and monthly minimum payments at the normal rate they now pay in the form of rent. This will include insurance, taxes, interest and capital.
(c) The tenant cannot acquire title to the property for a period of five years. The object of this restriction is to prevent resale and speculation.
(d) On completion of the agreement of sale the normal tax rate of the municipality becomes applicable.
(e) Every endeavour is made to ensure fair appraisal values when houses are sold to tenants.
It is to be noted that there is considerable work involved in completing the survey of the lots and in carrying out new negotiations with municipalities. However, this has been completed in three centres, namely, Sorel, Quebec; Valleyfield, Quebec, and Sarnia, Ontario. The sale of these units is now under way.
Subtopic: REQUEST FOR CLARIFICATION OF REGULATION