Friday, November 26 2010 @ 07:57 AM AST
Contributed by: NicolaJoseph
As part of the Government’s Public Sector Investment Programme, the housing sector will receive an overall allocation of $845.3 million to finance the implementation of programmes aimed at ensuring adequate shelter for all citizens, including the provision of high-quality affordable housing.
A new programme, the IDB-assisted Neighbourhood Upgrading Programme, will be introduced in fiscal year 2011. The new programme constitutes Phase 2 of the IDB-assisted National Settlements Programme Phase 1 which came to a close in January 2010. Funding of $20.9 million in the 2011 PSIP will facilitate completion of Phase 1 including:
• Final payments for infrastructure upgrades at Bon Air North, Arouca (457 lots); preparation of general plan surveys on sites completed at Race Course Road, Arima, Milton Village Couva, Squatterville, Macaulay, Picton Road Sangre Grande, Wallerfield; and construction of infrastructure at Cashew Gardens, Carlsen Field; Springle Village, Point Fortin; Wellington Road, Debe; and Glenroy, Princes Town
• Disbursement of approximately 35 subsidies at $20,000 per month to lower income earners to facilitate home construction