NHT spends over $4 billion

THE National Housing Trust (NHT) has spent $4.84 billion on developing and completing schemes as well as providing mortgage financing to contributors in financial year 2000/01.

In its annual report for the last financial year, which was tabled in the House of Representatives this week, the NHT stated that 1,673 housing solutions were completed over the period. This included 887 serviced lots, 711 studio units and 75 two-bedroom units.

Some of the schemes completed were Longville in Clarendon with 350 units, Retirement in Trelawny with 200 units, Mineral Heights in Clarendon with 283 units and 160 units in Bevans Pen, St. Catherine.

There was also a small increase in housing solutions for Build on Own Land (BOL) and Home Improvement (HI), with 1,069 BOLs and 326 HIs. This brings the total to 1,395 solutions compared with 1,385 for the previous year.

Meanwhile, there was a slight decline in the number of persons benefiting from mortgage financing.

During the period under review the NHT provided 6,692 mortgages for 4,904 contributors valued at $4.70 billion. This was, however, less than the previous year when 8,812 customers benefited from 5,913 mortgage loans with a total value of $5.40 billion.

In order to serve customers more efficiently, the NHT plans to step up its technological improvements by converting its network from a 'token ring' to an 'Ethernet' technology, which will enable faster transmission of data and significant improvements in transaction processing times.

The company will also set up an intranet facility, which will enhance the Trust's internal communications system by providing staff with 'on-line' access to company policies and other relevant organisational information.

Plans are also in place to set up a Network Management System, which will provide greater control, and more efficient management of the computer network. This software allows trouble-shooting and correction of network problems from a central location without having to travel to the problem site.

The report also outlined the organisation's target for this year, which includes the collection of $3.5 billion for mortgages and $4.56 billion for contribution. It also intends to put its housing expenditure at $6.55 billion and offer 8,337 loans to beneficiaries.

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