During the financial year 2020/21, the National Housing Trust (NHT) will expand the Guaranteed Purchase Programme (GPP), targeting efficient developers who are able to deliver housing solutions within the $5-million to $8-million range.
Prime Minister, the Most Hon. Andrew Holness, made the announcement during his contribution to the 2020/21 Budget Debate in the House of Representatives, on March 19.
Under the GPP, the NHT will purchase all or an agreed number of units, thereby relieving the developers of the associated market risk.
Mr. Holness said a total of 8,364 housing solutions are being proposed for the parishes of Hanover, St. Thomas, Portland, Westmoreland, St. James and St. Elizabeth.
Meanwhile, to facilitate housing development in areas where a constant supply of water is not available, the NHT and National Water Commission (NWC) have entered into several agreements where the NHT provided project funding and grants for the infrastructure works.
The Prime Minister said these agreements were critical to the completion of Cornwall Court, St. James; and Paddington, St. Andrew.
He informed that in 2019, a standard agreement was completed between the NHT and the NWC, which will apply to the following developments – Estuary, St. James (2,600 solutions); Perth, Manchester (1,760 solutions), and Mount Nelson, Manchester (in planning phase).
In addition, some $487.5 million has been expended on the upgrade of infrastructure in past schemes.
The scheme upgrade initiative was initially introduced in 2017 as a means through which selected schemes built prior to 1986 would be upgraded. The scope of works includes sewer system upgrade, road rehabilitation and drainage works and riverbed training.