Govt help for homeowners

Addressing a post-Cabinet news conference yesterday, Housing Minister Dr Keith Rowley stated that Government had made its Home Repair Grant programme and Home Improvement Subsidy programme more accessible and more realistic by raising the income ceiling to capture more people; and by raising the amount of funding to cater for rising construction costs.

Persons making $3,000 a month or less can now obtain a $15,000 Government grant to repair their homes under the Home Improvement Programme. (The previous income limit was $2,500 or less and the grant was $10,000). Under the subsidy programme, persons with a monthly income of $4,500 or less can access a Government subsidy of up to $20,000 to improve their home. (The previous income ceiling was $2,500 and the maximum subsidy was $15,000). Rowley stated that Government found that both programmes were not capturing the target group, as it had seen an improvement in income levels and therefore could no longer qualify. He said, for instance, that out of 15,000 applicants, only 1,476 (or 9 percent) qualified for the Home Improvement Grant. And he noted that more than 2,500 applicants were disqualified because their maximum annual income "slightly exceeded" the income limit of $24,000 a year.

At the same time, Rowley said, Government also found that the many persons accessing the subsidy programme had problems coming up with the "matching grant due to their socio-economic background." Rowley stated that an analysis of both programmes also showed that the largest percentage of applications were for roof repairs, which had an average cost of $18,000 per applicant.

He said research indicated that there was a 40 percent increase in the price of construction items commonly used for roof repair — steel, aluminium, zinc and wood. "This has allowed the programme not to be as successful in terms of targetting as many people because more money is required for each repair job and a large number of hopefuls do not have the matching funds available," Rowley stated.

He added that with rising construction prices, Government did not want successful beneficiaries to be limited in the quality of repair work to be undertaken.

Rowley stated that according to Central Statistical Office figures, about 15 percent of the housing stock was in a dilapidated condition. He said that if not addressed, it would exacerbate the existing housing shortage. On the conversion of the Sugar Industry and Labour Welfare Committee, Rowley said the Cabinet was approached with this proposal, and has agreed to it.

Rowley stated that since the closure of Caroni and the consequent VSEP and the general uncertainty of the sugar industry, the client base of the SILWC had decreased considerably. He said over the last two years there had been a decrease in the loans and the land portfolio of SILWC. SILWC has a mortgage portfolio of $46 million, 50 years expertise in the provision of serviced lots, and the creation of more than 22 housing settlements.