Prime Minister Dr Keith Rowley says the Minister of Finance is to try to locate funds for citizens to borrow to finance the construction of their own homes.
Rowley said that during yesterday's HDC sod-turning ceremony to mark the start of construction of the River-Runs-Through housing project at the Arima By-Pass, Arima.
Rowley said because of the prevailing economic situation new ways will have to be found to provide housing and that was one such method that can be used.
He said following Hurricane Flora in Tobago, several years ago, the state housing company at the time provided a facility where Tobagonians were able to borrow and construct their own homes.
He said Imbert will have "to look and see where that pool of funds can be had and encourage families to borrow directly" to construct their own homes.
Rowley also said the Victoria Keys housing project, which was originally built for middle income earners was upgraded and would sell for between $2 and $4 million. He said those units are to be sold to first time homeowners on the open market.
Later, in a brief interview with reporters, Rowley said an appropriate memorial to the late, former prime minister Patrick Manning will be considered by his Cabinet. Rowley was responding to questions on the request by Manning family for a development fund to be established in the former prime minister's name to provide housing for several Caribbean nations, including Cuba.
Rowley said he was not sure the request "was the best way. We have not considered it yet."
Rowley quickly added that the "idea is not new. There used to be a Caribbean Development Fund and you may want to research its history."
He said the houses being constructed in Arima would cost between $500,00 and $550,000 and that the units could be considered low-affordability housing rather than low-income housing. "Low income houses no longer exists," he said.
