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NHT paying $1mil weekly fee to maintain Emancipation Park
Saturday, 21 June 2008
The National Housing Trust (NHT) has published its annual report on its finances.
Its total assets have grown from $46 billion in 2002 to $89 billion at March 2007.
The net surplus fell from $2 billion in 2002 to a loss of $1.9 billion dollars in 2006.
However, the agency returned to profitability last year, reporting $528 million in profit at year end March 2007.
One of the items of expenditure that has attracted attention is the almost $1 million weekly upkeep of Emancipation Park in Kingston.
Speaking to RJR News on Saturday Chairman of the Board of NHT Howard Mitchell explained the reason for the apparent high costs associated with maintaining the park.
"It is that expensive because you have maintenance costs, landscaping costs, buildings and infrastructure to maintain and remember that Emancipation Park is free to the public so you have to have services to clean up after the public.
However, Emancipation Park is a national asset and people need to realize that assets cost money to maintain and the fact is we're not going to get those expenditures down as you have to keep the Park at a certain standard if you're going to have the Park at all," he said.
Mr. Mitchell also admitted that one of the measures that the NHT's management is considering is to start charging for the use of the park in order to offset costs.
<span style="font-weight: bold"> wat i am not understanding is the fact that houses not being built by housing trust or at least u hear dat any house being built in Ja, not in the income line of people who contribute to NHT...so wat really a gwane wid di original intent of this body
</span>
Saturday, 21 June 2008
The National Housing Trust (NHT) has published its annual report on its finances.
Its total assets have grown from $46 billion in 2002 to $89 billion at March 2007.
The net surplus fell from $2 billion in 2002 to a loss of $1.9 billion dollars in 2006.
However, the agency returned to profitability last year, reporting $528 million in profit at year end March 2007.
One of the items of expenditure that has attracted attention is the almost $1 million weekly upkeep of Emancipation Park in Kingston.
Speaking to RJR News on Saturday Chairman of the Board of NHT Howard Mitchell explained the reason for the apparent high costs associated with maintaining the park.
"It is that expensive because you have maintenance costs, landscaping costs, buildings and infrastructure to maintain and remember that Emancipation Park is free to the public so you have to have services to clean up after the public.
However, Emancipation Park is a national asset and people need to realize that assets cost money to maintain and the fact is we're not going to get those expenditures down as you have to keep the Park at a certain standard if you're going to have the Park at all," he said.
Mr. Mitchell also admitted that one of the measures that the NHT's management is considering is to start charging for the use of the park in order to offset costs.
<span style="font-weight: bold"> wat i am not understanding is the fact that houses not being built by housing trust or at least u hear dat any house being built in Ja, not in the income line of people who contribute to NHT...so wat really a gwane wid di original intent of this body
</span>