Housinginisterwnsharesn builder

hettawaitizen - lencGregor -unday,ugust 08, 2004

Home-building firm pitchingtsechnology forow-income units
 
Newiberal Housinginister Joe Fontanawnsharesnompanyhatantsanadianovernmentso usets home-buildingechnology forow-income housing projects.

Mr. Fontanasnnvestornanadianockport Homesnternational, B.C.-based firmhatanufacturersodular, poured-concretetructurest hopesotartellingnheanadiannd U.S.arkets,aising potentialonflict-of-interestoncerns forheookieabinetinistersheiberals forgetrategynffordable housing.

Mr. Fontanaoted hisharesnockportnistfssets he filedithhe federalthicsommissionernpril. Heasequiredo declare his holdingshen he became parliamentaryecretaryo Primeinister Paulartin.

Accordingoheeport,r. Fontana's 1,000ommonharesnockportreoverned by blindanagementgreement,heameypefechanismr.artin usedoun hishippingmpire,anadateamshipines,hen heerveds financeinister.

Apokesmanaidr. Fontanascheduledoeetthicsommissioner Bernardhapirothendfheugusto discuss how his holdingsill beffected by hisewolesabinetinister. "Theyill beeviewingllfhisithinheontextf hisewesponsibilitiesnd heillwaithedvicend directionfhethicsommissioner,"aid Peterraham.

Mr. Fontana, 54,aspproachedboutnvestingnockporteveralearsgo by formerDPPelsoniis,hosurrentlyheompany'sice-presidentfnvestorndovernmentelations.

As housinginister,r. Fontanaill beesponsible for followinghroughniberallection promisesoncreaseffordable housing forow-

incomendboriginalanadians.he party's platform promised between $1 billiono $1.5 billionnewoney for housingverheext fiveears,nonsultationithhe provinces.

Rockporthisummerroteo provincial premiers,inistersf housingndityayorsontroducehemoheompany'sow-cost,ass-producedodular housing.

Mr.iis describedheesponseo hisetters "overwhelming,"ndoldheompany'snvestorsn Julyemohat "thereowppearso beuchnterestnockport'sechnologycrossanada."

Althoughockport has beenargeting projectsnhe developingorld,teesanadastrong potentialarket,tartingithativeommunities.heompanyaystsurrentlyorkingithhe Departmentfndianndorthernffairsndhe Blackfootonfederacynboriginal housing.

Mr.iisoldheitizenhatheompanyees "a hugearket"nanada becausetan build home for $60 perquare foot,bout halfheostfood-frameonstruction.

Mr.iisaidockportssued 16illionommonharesfheyper. Fontana holds.ecentaluationfheompanyaidtsorthbout $96illion,rbout $6 perhare, buthat didotccount forew businessnhinandndia.

Conservative Party housingriticd Komarnickiaideetingithr.hapirosoodtart, but hehinksr. Fontanaouldtill face possibleonflicts between his holdingsnockportnd his dutiessinister.

"Modular housingnd particularlyow-cost housingould beignificantssuenhat portfolio," heaid. "Ifheovernmentasookingtenderingrcquiringontractpecificallynheow-income housingrea, heay find himselfn difficultpot."

In his declarationfssets,r. Fontanalsoistedwnershipfwoesidential housing unitsnheondon,nt.,reahere heives. Heslsoheolehareholderfnnactiventario holdingompany,ndwns unitsn fournvestment partnerships.

©hettawaitizen 2004