~ Also for new housing project ~

PHILIPSBURG--The long-delayed management agreement for the 70 apartments in Hope Estate was on Friday signed between St. Maarten Housing Development Foundation (SMDHF) and the Island Government, represented by Public Housing Commissioner William Marlin on Friday.

Marlin said the government will maintain ownership of the apartments, while the housing foundation will be paid a monthly fee of approximately NAf. 24,000 to manage it. That fee includes reimbursement of the NAf. 716,000 that SMDHF invested into Hope Estate to get the construction started when the government did not have the liquidity to do so.

Additionally, from the projected rent income of NAf. 391,000, there is a projected surplus of NAf. 103,000, which will go to the government (into a special fund), as owners of the homes, for further development. The one bedroom apartments will be rented for NAf. 450 and the two bedroom units for NAf. 550. Ten of the apartments will be for the physically disabled.

SMDHF will now begin the process of selecting tenants for the 70 apartments from its priority list - a list which, according to Marlin, has about 2,000 people. The Commissioner said while some people would be disappointed, they should not lose hope. He said the government's intention is to provide additional "real social housing" for person who cannot afford the NAf. 450 or NAf. 550 rent.

Marlin also signed the contract with contractor Liccom N.V. for phase II of the Hope Estate project which will comprise of 24 three-bedroom apartments. Dutch funding agency USONA, through the Social Economic Initiative funding, will be financing the NAf. 4.4 million project. The Island Government is contributing NAf. 900,000.

SMHDF will also be investing NAf. 169,000 and will be reimbursed over time. Marlin said the financing is available and the project is ready to go. The project should be completed in 11 months from the start date, hopefully in a "few days."

Interim managing director of SMHDF, Hubert Leo Chance, provided a history of the realization of Hope Estate Project, attributed to the Harbour Buy Back Funds protocol of 2005 under the responsibility of former Commissioner Theo Heyliger.

"I think it was wonderful for St. Maarten to have achieved the funding for these various projects, and that the commissioner of the harbour, Theodore Heyliger, thought it wise to do so at that time in conjunction with the Island Territory of St. Maarten for various portfolios of government," Chance said. "I am more than happy today to be here to sign the management agreement together with Commissioner William Marlin."

He said the allocation of the apartments will be done in line with the management agreement between the government and SMHDF and will commence shortly after some minor GEBE and Census installations are in place, which are still the responsibility of the government.

Chance also thanked all the persons and companies that had a hand in finalising the project, including St. Maarten Ports Authority management for their participation back in 2005.

He said in all things done on St. Maarten, "let us all work in harmony towards the betterment of St. Maarten for a win-win situation for all. It is important for the people of St. Maarten to understand that the Hope Phase One is a modern facility and should remain in line with modern living standards. The tenants that will be occupying these apartments [should] be in line with the understanding of their obligations as a good tenant, so that we can have a better quality of life on the island of St. Maarten."