Attention broadcasters: English audio clip attached.
The Bredasdorp deferred ownership pilot project in Mill Park is going from strength-to-strength as the Western Cape Department of Human Settlements has allocated R15 million to the project for the 2022/23 financial period after a R10 million allocation in the 2021/22 financial period.
This project is part of the provincial government’s deferred ownership pilot model and linked to the Help Me Buy A Home Programme, where households with an income between R3 501 and R22 000 per month may qualify for a housing subsidy.
During a briefing to the Standing Committee of Human Settlements, the Department revealed that through a rent-to-own initiative, these homes will be sold in two years’ time. Additionally, the department disclosed that 30 deferred ownership homes are expected to be delivered by 30 June 2023.
Has also allocated R11.378 million for the restoration of title deeds initiative. This is yet example of the DA-run Western Cape’s commitment to fighting for effective service delivery and making sure that Western Cape residents enjoy the dignity of home ownership.
Today, the Standing Committee on Human Settlements also adopted the Adjustment Budget Vote for the Provincial Department. The Department of Human Settlements had a main budget of R2.415 billion and additional funding of R63.169 million was further allocated to the department during the adjustment budget process, which resulted in an adjusted budget of R2.478 billion.