49
188.
The implementation of the IDB-Assisted Neighbourhood Upgrading Programme (NUP)
will continue over the three (3) year period at an estimated cost of $208 million. The funding
will be utilised to continue the implementation of the four (4) components of the Programme
which seeks to improve living and shelter conditions for lower-income groups; regularize the
tenure of properties for families living in squatter settlements; relocate squatters where
regularization is not feasible, and introduce strategies to prevent the occurrence of further
squatting. In addition, funding will be provided for home improvements and new housing
subsidies for low and middle income families.
189.
The programme comprise the following four (4) components:
•
Squatter Settlements Regularisation
•
Improvement and New Housing Subsidies
•
Sector and Institutional Strengthening
•
Design and Programme Administration
190.
The Squatter Regularisation Component which is being implemented by the Land
Settlement Agency (LSA) aims to improve the infrastructure and living conditions of five
thousand three hundred and sixty (5,360) beneficiaries on twenty five (25) squatter sites, and to
deliver statutory leases to those beneficiaries over the a seven (7) year period. The cost of
implementing this project over the next three (3) year is estimated to cost $100 million.
191.
The main objective of Home Improvement and New Housing Subsidy Component of the
NUP is to facilitate home improvement to an estimated two thousand (2,000) eligible low and
middle income families through a twenty thousand ($20,000) matching subsidy, and new home
construction or purchase for an estimated one thousand five hundred and thirty (1,530) eligible
low and middle income families through a fifty thousand ($50,000) matching subsidy. This
component is estimated to cost $85 million and will be implemented over the period 2014-2016.
192.
A further investment of $23 million is forecasted for the next three (3) years to facilitate
the other two (2) components of the Programme.
193.
The Sugar Industry and Labour Welfare Committee (SILWC) will require an investment
of $8 million for infrastructure development and upgrade of housing settlements and related
activities through the following projects:
•
Upgrading of SILWC Housing Development
•
Orange Field Housing Development
194.
The Housing Development Corporation (HDC) has significant contractual obligations
over the period and it is expected that construction of housing units, infrastructure development
and wastewater installation and upgrade will continue. For the period 2014 to 2016, an
estimated sum of $3.5 billion will be required to continue the development of the housing sector.
This funding will be provided to address the ever increasing demand for housing, develop
infrastructure on housing settlements, improve living conditions for low and middle income
families, and provide assistance for emergency home improvements and repairs.
