EC$210 million of Social Security money used to provide hundreds of homes for low-income and middle-income families in St. Kitts and in Nevis

Homes in Sandy Point, St. Kitts

BASSETERRE, ST. KITTS, NOVEMBER 8TH 2011 (CUOPM) – Social Security, which has been making worthwhile input to the social and economic development of St. Kitts and Nevis in several areas, says its greatest contribution has been in the field of housing.

Social Security’s Public Relations Department official, Mr. Chesil Hamilton said recently in the Board’s “Social Security Five” radio programme that EC$22 million went to scholarship and education financing while EC$8 million was contributed toward the area of health improvement.

Mr. Hamilton disclosed that EC$210 million was channeled through the National Housing Corporation (NHC) on St. Kitts and the Nevis Housing & Land Development Corporation (NHLDC) on Nevis. The money went towards improving the lives of thousands of ordinary men and women by making them homeowners with the financing of low to middle income homes. Information obtained from Social Security show that a total of EC$168.1 million was borrowed by St. Kitts for low and middle income homes and home mortgage for civil servants and EC$41 million by Nevis.

Town Houses, St. Kitts

In its 15-year in office, the previous People’s Action Movement (PAM) Administration of Dr. the Right Hon. Kennedy Simmonds borrowed EC$9 million in August 1993 from Social Security for Low Income housing. Since taking office in July 1995, the St. Kitts-Nevis Labour Party Administration of the Hon. Dr. Denzil L. Douglas has borrowed EC$167.2 million for low and middle income homes and civil servants mortgage. In Nevis, the Concerned Citizens Movement (CCM) Administration of Hon.

Vance Amory borrowed EC$9 million during its 13-year rule from 1992 to 2006 and the Nevis Reformation Party (NRP) Administration of the Hon. Simeon Daniel borrowed $2 million between 1980 and 1992 and that of Hon. Joseph W. Parry borrowed EC$30 million for housing between 2006 and 2008. In August 1993, $9 million for Low Income Housing was channeled via the Development Bank of St. Kitts and Nevis.

In November 1996, $30 million was channeled through the Development Bank of St. Kitts and Nevis for Low Income Homes. In November 2000, the Development Bank of St. Kitts and Nevis received $32.2 million under the Civil Servants Home Mortgage Scheme. EC$5 million went to the Development Bank in April 2003 for Middle Income Home mortgages. In April 2003, $5 million was channeled through the Development of St. Kitts and Nevis for Middle Income Home mortgages and EC$20 million in October 2003 via the National Housing Corporation (NHC) for Starter Homes and Super Low-Income Homes.

Cherry Gardens in Nevis

In March 2004, EC$5 million was borrowed by the National Housing Corporation (NHC) for the construction of 55 town houses. Social Security also disbursed EC$50 million to the NHC for 500 affordable homes in July 2008 and EC$15 million in January 2010 for Civil Servants Home Mortgage via the Development Bank. In Nevis, EC$2 million was disbursed by the Social Security to the Nevis Housing & Land Development Corporation (NHLDC) for housing in December 1994. EC$9 million was disbursed through the NHLDC for homes in April 2001. EC$20 million was disbursed through the Nevis Island Administration/Nevis Cooperative Credit Union for the Nevis Civil Servants Housing Scheme in December 2007 and in March 2008, EC$10 million for Low Income Homes via the Nevis Housing and Land Development Corporation.