All tenants of the National Housing Corporation (NHC) who have paid in full or paid deposits towards their units should have their money returned by Christmas.
In a ministerial statement made in the House of Assembly today, Minister of Housing, Lands and Maintenance Dr William Duguid said the more than $5 million in payments will be refunded to 576 tenants from 21 of Government’s 49 housing estates.
In keeping with the Barbados Economic Recovery and Transformation (BERT) programme, tenants who paid $5 000 or less will receive cash refunds, while those who paid more than $5 000 will received bonds that can be cashed at any time at a discounted price.
Duguid said the decision was taken to refund the money to correct what he described as “unfair” and an anomaly, with some tenants getting their units free of charge under the previous Democratic Labour Party administration, while the others paid towards theirs.
He pointed out that this was another step in the 2003 National Housing Corporation Enfranchisement Programme which allowed NHC tenants to purchase their units at reduced market prices. (GC)
