Xatśūll First Nation has paid off the remainder of the CMHC mortgages. The amount that had still been outstanding was $289,000.
“Paying off the mortgages has been a priority for Chief and Council,” says Kukpi7 Sheri Sellars. “As members were able to hear at the audit meeting on Dec. 6, Xatśūll now has no long-term debt and we’re in a very strong financial position.”
Paying off the debt also has advantages for housing. With Xatśūll no longer tied to CMHC through the mortgage debt, the Nation has greater freedom to self-determine, plan and create its own programs for homes in the community.
“With the debts to CMHC paid off, our housing department does not have to report to CMHC anymore. This will free up time to deal with the growing need for housing for our members.”
If you have any questions about housing, please call Housing Manager Simon Bett at 250-989-2323 ext. 103 or email housing@xatsull.com.