There is a high demand for government homes as over 1,000 people have already registered, according to Housing Minister Kenred Dorsett.

The minister, who spoke to reporters before heading into the weekly Cabinet meeting, a project manager and fund administrator have both been selected to help facilitate the government’s $60 million housing programme.

“We now have in excess 1,000 people who have registered on the government website and that is outside of the people who have come in to the ministry to apply so the numbers continue to grow. I think there is no doubt that there is a significant demand for housing and not just in New Providence but throughout the islands,” he said.

“The new housing programme is done by virtue of memorandum of understanding which calls for a different way in which we handle funds for the programme.”

He added, “Veritas Consultants won the bid and the Attorney General’s Office is now finalising the contracts and so once those contracts are executed for the project manager and the fund administrator we would have met the requirements to enable us to draw down on the finds from NIB and I’m quite happy we’re at this stage.”

The housing programme is expected to involve the financing of home construction for what the government calls a long list of Bahamian applicants.
Reports said the first payment of $10 million will go toward building 120 or more homes in existing subdivisions.
After that, installments of $2.5 million will be allocated each quarter.
“At this state we don’t think there is going to be ant significant revenue associated with this,” Minister Dorsett said. “The government housing programme is significantly subsidised so where possibly we hope to break even.”

He added that it is his hope that the government does not have to pump as much money in repairs as they are pumping in building.

“We’re hoping that what is done in the private sector is now done in the public sector to bring about greater efficiencies,” he added.