POND ISLAND–Government, via the Ministry of Public Housing, Spatial Planning, Environment and Infrastructure VROMI, has made some headway into clearing up some of the outstanding subsidy due to St. Maarten Housing Development Foundation (SMHDF).
VROMI Minister Miklos Giterson recently released NAf. 1 million to SMHDF. That amount represents a percentage of unpaid subsidy indexations and other compensations owed to the foundation for tenants’ annual rental subsidies and for home repair. SMHDF intends to execute needed repairs to its properties with the funding.
The housing foundation’s current financial situation “is less than ideal,” said Giterson. “This is caused not only by irregular payment of rent by the various tenants, but also due to lack of payment of the agreed subsidies by the government to SMHDF.”
The money will be acquired through funds held in a revolving account the foundation manages on behalf of government through a management agreement established in 2010. The revolving fund holds the revenues of the Hope Estate Phase 1 and Phase 2 projects.
With the releasing of NAf. 1 million, it was mutually agreed that an administrative audit would be performed within three months to settle the total claim amount. Once verified, both institutions will jointly review the several management agreements, some of which are more than 20 years old and outdated, and aim to establish one single revised agreement. SMHDF will also comply with its quarterly reporting obligations to government, according to a press statement from Giterson’s office.
The minister paid a visit to the Belvedere Housing Complex on Friday, February 22, where, accompanied by SMHDF officials, he toured of some damaged homes slated for repairs. At the start of the tour, he received the foundation’s 2017 financial statements and the 2019 budget from General Director Helen Salomans.
“I am pleased that we have made some progress in this area, as these payments have been an issue that has been pending for several years. There were many attempts to address this in the past but it never materialized,” said Giterson.
Source: The Daily Herald https://www.thedailyherald.sx/islands/85526-housing-foundation-gets-partial-payment-from-govt