Dominica will build 700 new homes for vulnerable people and families in fiscal year 2022/23
Roseau, Dominica: For the 2022/23 financial year, the Prime Minister, Dr Roosevelt Skerrit, announced that the government would build 700 new homes for vulnerable individuals and families across the country. During his presentation of the budget, he focused on the new Housing for the Future Programme.
Prime Minister Skerrit added: “While housing has traditionally not been the primary responsibility of any government, this Labor Party government has recognized our social responsibility to our people. Natural events have also reminded us how important it is for a family to have safe and secure housing.
This government has helped thousands of families to own their own homes through several mechanisms, including providing low-interest funds to financial institutions; providing money and building materials to help families build their own homes, and in most cases the government funded and built homes for vulnerable families.
This year, the government will build no less than 700 new homes for vulnerable individuals and families across the country. Importantly, we have committed funding to achieve this.
Prime Minister Skerrit said, “There are several components to the housing revolution, but I will focus on the most recent component, ‘The Housing of the Future Programme’, targeting young professionals and the youth of our country.
The program was officially launched on July 17, 2022 and has generated tremendous interest from our young people. Under this program, the government will build housing that will be available for purchase for young employees in the public service or private sector in Dominica and for Dominicans residing in the diaspora.
Dominica launched the first phase of the program under the theme “Empowerment through Ownership – A Pathway to Generational Wealth”.
The first phase will target young people residing in Dominica and employed in the public and private sectors. These homes will contain two (2) or three (3) bedrooms with an option to add other amenities depending on the financial capability of the individual. To ensure the full participation and contribution of the young people for whom this program is intended, they have created a 21-member group made up of young men and women from the public and private sectors who will serve as advisers to the government on this initiative. These millennials have already started working fervently on the program and have made recommendations on the master plan to include designs, amenities, and landscaping.
The group also recommended a residence policy and a community management plan for the development. Under the scheme, the government will build houses in Warner and Cotton Hill in Portsmouth initially.
The government intends to extend this program to Grand Bay and Hillsborough Gardens in the second phase. PM Skerrit is happy to report that he has tremendous support from the unions. A number of financial institutions have agreed to partner with us to provide mortgages at discounted interest rates as low as 4%.
These institutions include the National Bank of Dominica, West Coast Credit Union, Central Cooperative Credit Union, Republic Bank, Marigot Cooperative Credit Union, and National Cooperative Credit Union. In addition, some suppliers of building materials, furniture and appliances, insurance companies and contractors have accepted the invitation to partner with the government in this effort, recognizing that these investment opportunities can lead positive wealth creation and growth for all sectors of the economy. The houses will be sold at greatly reduced rates to young people in our country.
Additionally, Prime Minister Roosevelt Skerrit also announced the programs launched during the past fiscal year. He said the government remains firmly committed to improving housing for everyone in this nation, especially the most vulnerable.
“We are determined to achieve resilience in this sector. To that end, we have revised our building codes to ensure that new and remodeled homes are structurally sound. We have helped our people repair and rebuild their homes, and we are building new homes for our citizens. In the last financial year, 213 families received the keys to new resilient homes,” the Prime Minister said.
He further pointed out that on September 16, 2020, the government introduced another innovative and transformational program for Dominicans 40 and under, a program that provides $10,000 to first-time homebuilders and home buyers. a house.
Prime Minister Skerrit underlined: “I am delighted to inform you that the impact of this program on young people has been enormous. To date, applications for two hundred (200) youths have been approved and disbursements continue to be made for the purchase of construction materials, payment of land/property transfer fees, construction-related services and labor costs.