PRIME Minister, Kamla Persad-Bissessar, has described the start of the nation’s first Public/Private Partnership (PPP) in the construction of housing units at Carlton Lane, San Fernando as part of Government’s continued development of the housing sector by utlising private financing.
The Prime Minister was delivering the feature address at the sod turning ceremony between the Housing Development Corporation (HDC) and Republic Bank Limited for approximately 80 housing units at Carlton Lane, San Fernando on Thursday.
“In today’s instance, our private sector partner’s skills, knowledge and capital are adequate to deliver high quality design, construction and performance based service for what is required at this Carlton Lane housing project,” she said, adding, “Republic Bank stands as a ready, robust and capable partner in this initiative.”
“True development cannot be measured in only dollars and cents, there must be an improvement in the quality of life,” she said.
Also addressing the ceremony was Housing Minister, Dr Roodal Moonilal, who pointed out that the Carlton Lane housing project had been constructed in the 1980's and had degenerated into a deplorable state which had rendered the units uninhabitable.
He said over the past three years, similar projects such as at Port of Spain West, Central, and East had been the special focus maintenance and overhaul which included repairs to the roof, ceilings, windows, plumbing and electrical repairs.
He said the partnership would utilize ‘domestic capital’ while delivering public goods without the Ministry having to go ‘cap in hand’ to the Ministry of Finance for construction of housing units.