DRAFT LIST OF SUBSIDIES CATERED FOR BY A HOUSING SUBSIDY FUND

Transcription

1 DRAFT LIST OF SUBSIDIES CATERED FOR BY A HOUSING SUBSIDY FUND # SUBSIDY TYPE APPLICANT/ RECIPIENT CONDITIONS A Support access to existing formal housing for low income earners 1 Rental subsidies program, Low-income s with Rental costs are at a contributing up to 40 % of members with both, regular market rate the monthly rent paid by a or irregular employment at Limited unit size low income entering of the program and Special conditions for for the rentals in secondary cities (up to 50% subsidy) 2 Support to buy shares in a rental housing cooperative in form of a financial contribution up to a maximum amount Any with a net annual income below 4 Mio RWF who does not own a housing unit in an urban area of the housing unit Limited financial contribution B Establish social housing programs targeting lowest income groups by enabling access to capital 3 Create a stock of social housing units (no private capital) by supporting purchase of a percentage of housing units from formal real estate projects Non-governmental nonprofit organizations targeting orphans, widows, divorced or abused women, disabled, elderly and other disadvantaged beneficiaries Rent them out at a noneconomic rental fee to eligible persons and maintain Limited unit sizes and s Units to be scattered across town (min. 5% and MEANS OF VERIFICATION Rental Proof of rental payments after every 6 months Income documentation Building plans of occupied unit with except for Category A of Head of Shareholder Income documentation Registration and approved due diligence of the NGO Beneficiary profile to be verified Beneficiary Semi-annual report including financial report by the organization CASE OF VIOLATION Cancellation of payments Repayment requirement Requirement to repay or retrieval of shares a) If NGO by own default provides units to ineligible beneficiaries: Exclusion from the area of activity as an NGO b) Wrong documents/ information provided

2 max. 15 % in the same estate) by beneficiaries: Cancellation of rental Requirement to top up rental payments retroactively (to be regulated in the ) C Supporting financing products to suit purchase power and payment rates of people with lower incomes than currently addressed 4 Down payment assistance pre-paying up to 15 % of a with an annual income Interest-rate-free downpayment assistance to be repaid 5 years after RWF at entering of the completion of Proposed loan program and for the payment 5 Provide guarantee to enable access to loans for low income home buyers (guaranteeing up to 5 monthly payment rates per 5 years period) 6 Cover insurance for cases of unemployment or occurrence of disability Directly paid to lending institutions for members who are low-income home buyers with an annual income between 1.2 and 3.6 Mio RWF at entering of the program and for the with an annual income RWF at entering of the program and for the To be repaid 5 years after completion of payment No other risk cover on the same Credit history crossverified with other finance institutions Disability certification Employment Proof of termination of employment insurance

3 7 Mortgages at reduced interest rates for the construction, upgrading or purchase of a housing unit with an annual income RWF 8 Rent-to-own program with an annual income of up to 3.6 Mio RWF at entering of the program and for the 9 Support to pay the rates of a homeowner Permanent staff in Rwanda Public Service who have serviced for at least 5 years in the Public Service, with an annual brut (?) salary between 2.4 Mio and 6 Mio RWF and secure, stable jobs in the structure. No beneficiary of another scheme targeting public servants D Establish first-home saving schemes combined with finance or micro-finance 10 Rewarding contributions to voluntary private savings through matching (possibly directly connected to the saving scheme ) Individual without minimum age One-scheme only benefit per person E Tax incentives 11 Tax reduction for housing Individual unit acquisition or affordable rental of Head of Public service (s) Contract for saving scheme and proven regular saving activity Dissolving of the without reimbursement Requirement to repay the rates paid by the government or Deduction of benefits from savings account (concerns only cases of discovery of previous benefit) Additional tax invoice

4 12 Tax-deductible interest paid on the needed to purchase a housing unit Full-age individual E Incentive products in support of green building 13 Mortgages at reduced interest rates for energyefficient building and use of renewable energies For new construction or home improvement or affordable rental Up to a particular value per years Purchasing or rental Mortgage loan c) For complete building: Building permit Energy efficiency concept or certification as applicable d) For products: Proposed product and quotation Product installation prove F Incentive products creating attractive family-friendly conditions in support of migration to secondary cities 14 Program providing onetime payment in support of access to housing in secondary cities Young families and special disadvantaged groups Permanent address for the to not change for 5 years 15 Taking over costs for For Secondary City Permanent address for the young families for early Districts governments to to not change for 5 learning and / or advanced disburse to eligible years learning programs when beneficiaries All children under 18 in Birth certificates of migrating to one of the the location children secondary cities Early/advanced learning program registrations of children Additional tax invoice Exclusion from other housing benefits

5 Early/advanced learning program bulletins Cross-cutting conditions: All new constructions to have a building permit All home purchase or home improvement, including green improvement measures, shall be linked to the legal conditions provided by the national urban upgrading strategy with housing objects verified to be suitable for purchase and/or upgrading Other supporting initiatives: Unemployment and disability insurance plans Tax incentives to real estate developers who agree to build in the secondary cities; Acquisition tax on high end homes to be paid into the Housing Subsidy Fund