Tuesday 22nd August, 2006

 

Soon, more $$ for Government housing

 
 
 
 
Sports Arena
Womanwise
Business Guardian
 
Letters
Online Community
Death Notices
 
Advertising
Classified Ads
Jobs in T&T
Contact Us
 
Archives
Privacy Policy
 
 
 

 

Minister Rowley says plans are underway toward making HDC financially self-sufficient

Housing Minister Dr Keith Rowley, right, and managing director of the Housing Development Corporation, Noel Garcia, peer through a window of one of the new units of the East Grove development at Ramgoolie Trace, Curepe, yesterday.

Housing Minister Dr Keith Rowley presents Judy Ramoutar with the keys to her new home at East Grove, Ramgoolie Trace, Curepe, yesterday.

Photos: Edison Boodoosingh

BY COREY CONNELLY

Plans are well underway for making the Housing Development Corporation (HDC) financially self-sufficient, Housing Minister Dr Keith Rowley has said.

He made the statement while delivering the feature address at a function to present keys to new homeowners at East Grove, Ramgoolie Trace, Curepe, yesterday.

The first phase of the development, which was carried out by QS Services, comprises 16 single units, 116 town units, 54 duplexes, 180 apartments, among other housing models.

It features underground electricity and vast open spaces for recreation and relaxation.

“We expect—in the not-too-distant future —to be able to use the asset base of the HDC to generate the significant revenues that are required to keep this programme going,” Rowley said, as he outlined the corporation’s mandate of providing suitable homes for the nation’s citizens.

He said the Auditor General was currently reviewing the HDC’s financial statement of work which has been completed under the public sector housing programme within the past few years.

“We have done the work. We are simply awaiting the examination of those reports by the Auditor General and as soon as we get that signed off upon, the HDC will be in a position like any other agency—to move towards the banking sector and to use its own asset base to contribute significantly to the financing of the housing programme,” Rowley said.

He said that once the assessment was completed, it would relieve the Minister of Finance of having to inject a large amount of money into the programme.

“When we get to that stage, the programme would be truly self-sustaining,” the minister added.

Nearing the end of his address, Rowley also spoke about the establishment of a housing fund to assist young people with saving toward their homes, as well as a programme targeting people who have access to a piece of land on which they want to build.

“There is Government assistance available to persons below a certain income bracket, if you have a site which you might have bought some time before or which you have inherited. Once you have the authority to build on that site, there is a programme available to get assistance to do your own construction,” he said.

Project consultant Imtiaz Hosein, in his overview, said the area’s road infrastructure and sewerage would be upgraded to meet the demands of the East Grove development.

©2005-2006 Trinidad Publishing Company Limited

Designed by: Randall Rajkumar-Maharaj · Updated daily by: Sheahan Farrell