THE NATIONAL Housing Development Corporation (NHDC), which spearheads the Operation PRIDE programme islandwide, has collected a total of $600 million in deposits and contributions.
The money was collected from beneficiaries represented by 72 Provident Societies, towards the development of projects, since its inception seven years ago.
Speaking at the handing over of certificates of possession for the Donaldson project at the Eastern Banana Sports Club in St. Thomas last Friday, NHDC Managing Director, Milverton Reynolds, said this figure represented a 13.3 per cent deposit ratio against a total expenditure of $4.9 billion over the seven-year period, adding that this exceeds the 5-10 per cent deposit ratio required by the formal sector.
Mr. Reynolds disclosed that deposits within the last two months had increased by 38 per cent, jumping from $33.5m in May to $45m in June. To date, certificates of possession for 17,568 lots in 41 developments have been delivered to beneficiaries.
He also expressed optimism that the programme is on track to meet the target of delivering 30,000 lots within the next two months.
"We are on target for further quantitive improvement in our collection figures, especially given our determination and resolve to deliver some 30,000 lots to first time landowners from 72 PRIDE projects by September of this year. There is no stopping Operation PRIDE now we are on the move," he said.
"There is no stopping, either, the groundswell in the genuine hopes and aspirations of the mass of the Jamaican people who, through land ownership, wish to say of Jamaica, this is mine."
The Donaldson project, which is being developed on just over 36 hectares (89 acres) of land, comprises 436 lots being developed at a cost of $62.8m, of which the beneficiaries have contributed $4.8m. Expenditure on the project, to date, has amounted to $5.9m and services, which will be provided to Level I infrastructure, include: water supply, electricity, marled roads and a further $34m is earmarked to be spent to effect the work. Lot prices range between $86,561 and $265,016.
In commending the beneficiaries on their contribution, Mr. Reynolds urged prospective beneficiaries, who have not yet completed their deposit payments, to do so. He also urged beneficiaries to follow the NHDC's stipulated policy of making payments, either at the head office, or at National Commercial Bank (NCB) branches islandwide.
"When you pay on time and through the proper channels, others, like yourselves, who are yet to come on stream, can benefit."
Addressing the matter of arrears, Mr. Reynolds noted that Operation PRIDE had entered a new era where transparency and strict professionalism were the guiding principles in moving the programme forward. Adding that they intended to apply the strictest of business principles.
"This is why we took the unusual step in May and June of this year and demanded that owners of lots in Rosemount, St. James, who were in default of their mortgage payments, in excess of 12 months amounting to $10.4 m, pay up or risk being removed from the property.
"To date, we have collected some 20.13 per cent or $2.1m of the total amount outstanding. There is every indication that since then, delinquent mortgagors at Norwood and Catherine Hall, in St. James, are making every effort to regularise their accounts," Mr. Reynolds said.
Water & Housing Minister, Donald Buchanan, who was guest speaker at the function also echoed Mr. Reynolds appeal for the beneficiaries to honour their payments, by sticking to their monthly commitments.
He also had words of advise for informal settlers.
"Many persons believe that having settled informally on government lands for years, it is theirs. This is not so. You have been fortunate to have been allowed to live unimpeded over the years. Now, you must take your rightful place as a full productive citizen and a taxpayer of this country. This is what will make your families proud and your nation great," Mr. Buchanan stressed.
