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Housing |
The Free National Movement believes that all Bahamians should have access to decent, affordable housing - either owner-occupied or rental quarters. We are convinced that more public sector construction and renovation of dwellings must be undertaken and that landlords must be required to maintain their properties in an acceptable condition.
The Free National Movement Government’s objective is to facilitate improved housing conditions throughout The Bahamas.
In addition to commitments contained in Manifesto ‘ 92, your FNM Government in its second term will:Enact legislation to eliminate Government Stamp Tax associated with transferring home mortgages between banking institutions. Raise the ceiling on government-insured mortgage loans to $100,000. Provide loans , through The Bahamas Mortgage Corporation, of up to $15,000 to low income homeowners and landlords, for repair and renovation of their properties. Acquire plots of land in "Over-the-Hill" and elsewhere on which to construct low and middle income housing. In addition to houses in densely populated areas, construct on average 200 low and medium cost houses per annum in New Providence, Grand Bahama and the Family Islands. Eliminate all pit latrines within the "Over-the-Hill" area within seven years.