$161M for Housing

GOVERNMENT’s housing thrust will place special emphasis on low and middle income groups in society, and Government has allocated approximately $161.2 million in the 2005 Public Sector Investment Programme (PSIP) “in keeping with the policy objective of improving housing conditions (in Trinidad and Tobago) consistent with a high level of human development.” Of this allocation, $145.7 million has been provided to the Housing Ministry and its implementation agencies (Land Settlement Agency — LSA, National Housing Authority — NHA and  Sugar Industry Welfare and Labour Committee — SIWLC) with the remaining $15.4 million being allocated to the Tobago House of Assembly (THA). In fiscal 2005, the LSA will continue to advance the squatter regularisation component of an Inter-American Development Bank-funded programme, through a provision of $25 million. These monies will be used to develop infrastructure for 4,900 housing lots throughout TT in locations such as Jacob Hill, Wallerfield (160), Pine Settlement, Sangre Grande (450) and River Estate in Diego Martin (2,000).

The SIWLC has been allocated $5.1 million to upgrade and develop housing infrastructure at several of its housing sites including Hermitage, Woodlands, Tarouba Central and La Fortune. The THA’s $15.4 million allocation will be used to address housing concerns in areas such as Roxborough, Signal Hill, Castara and Blenheim Housing Estates. As part of Government’s 2005 housing construction programme, the NHA expects to build 6.336 units at a cost of $1,378.3 million to be funded by way of loans from the local banking sector. Additional units will be funded from PSIP. Harmony Hall, Carlsen Field, Mt Hope and Debe are some of the sites where these units will be constructed. In addition to the NHA’s housing thrust, the Urban Development Company of TT (Udecott) will assist in the construction of additional housing units. During fiscal 2005, Udecott will spend approximately $214.5 million to continue the development of building and construction work at several sites including Canaan Road La Romaine, Coconut Grove, El Dorado, Tunapuna and Lady Young Road Morvant.