THE Bulawayo City Council (BCC) has struck a partnership deal with a local bank for the provision and servicing of housing stands to reduce the city’s housing backlog, Southern Eye has learnt.
BY NQOBANI NDLOVU
A report of the council’s health, housing and education committee shows that Metbank had offered to fund the development of 816 high-density residential stands in Emganwini suburb to reduce the city’s housing backlog that affects an estimated 100 000 residents.
“A proposal was sent to Metbank in line with council policy for partnership in the development of 816 high-density residential stands in R/E of Emganwini. The bank had responded indicating that they were willing to partner the city in the development of residential infrastructure.
“The bank pointed out that they would avail funding for the servicing of houses and that they would avail a loan to council for the provision of off-site infrastructure, should the council need such a loan,” the report read.
Council in 2014 agreed on a policy to partner private developers and financial institutions in the provision of housing stands.
“Council will come into the partnership with the land, technical expertise and goodwill. The bank will provide finance to title survey the stands, fully service the stands with sewer, water and roads and construct houses, thereon,” the council report added.
Early this year, council also sought a partnership deal with the Local Government ministry for the construction of residential flats at the sprawling Cowdray Park and Emganwini high-density suburbs in order to ease the city’s housing backlog.