Two events of significance affecting our presentation have occurred since then. First, federal Minister Gagliano and the provincial and territorial ministers responsible for housing met in London on August 15 and 16 to discuss a National Affordable Housing Strategy. Most of the discussions centred on the federal government's proposal for a capital grant program for affordable housing. Along with many of our colleagues in the non-profit housing sector, we wish to congratulate Minister Gagliano for the breakthrough in these discussions. He agreed that the focus of the program could shift from the proposed rental supply stimulus program to an affordable housing program producing new housing at rents affordable to low and moderate income households. This shift is tremendously significant: it ensures that the people who need it most will get the housing assistance they need. To facilitate this, the Minister agreed to lift the federal grant cap of $12,500 per unit, allowing the size of grant to be determined by the cost gap to produce affordable rents. We know that this means that fewer units will be produced from the same size budget of $680 million over four years.