Government is moving to shore up the resources of the National Housing Corporation (NHC).
Led by Minister of Housing and Lands Denis Kellman, the administration has initiated a process that could result in the formation of a public-private partnership centred on land in St Peter.
In introducing the resolution, Kellman told the House of Assembly yesterday that it was a necessary step.
However, even as he pointed out that the state can use lands as commercial property to help solve money problems at the NHC, he insisted: “You do not have gold and sell it at copper prices.
“In this vesting it is clear that NHC needs to have some money but NHC also needs to recognise that they need to find the right person because there are some coastal problems down there and if we do not take action quickly there will be no accessibility to this particular piece of land because of beach erosion etc,” he said.
“We must first find someone who is capable of purchasing the land, who is capable also of correcting the beach erosion and also who is able to help build out the heritage of the area because, as I said previously, it was a fort.”
Kellman, the Member of Parliament of the neighbouring parish of St Lucy, noted an increase in notable businesses that have seen the advantage of investing in the north of the island, adding: “Business people in this country have suddenly recognised that it’s not a crisis.”
But even as he touted the benefits of investing in rural areas that are ripe for further development, the minister bemoaned that billions of dollars were being left in the banking system, rather than being invested back into the country.
He took particular aim at the management at credit unions, saying that these institutions should not only be about giving and receiving money but also advising clients about the best possible economic activities available. (WILLCOMM)