PHILIPSBURG--Commissioner of Housing William Marlin said a management agreement for the 70 apartments at Hope Estate is "basically ready". He said he and his staff met with the St. Maarten Housing Development Foundation (SMHDF) last week about the issue.

Marlin explained that the SMHDF during the meeting indicated that their attorney would have to review the agreement. Following that process, the agreement would then have to be ratified by the Executive Council which would allow the SMHDF to begin the allotment of the apartments.

Marlin said while he is ultimately responsible, the agreement was "back and forth" between government departments and the SMHDF and, he added, should have been completed before he took office last year.

The final agreement will call for an approximate flat fee of NAf. 24,000 that government will have to pay to the SMHDF on a monthly basis for managing, maintaining and insuring the apartments.

Government will also reimburse the SMHDF for the monies the foundation advanced to government in order to finalize the apartment project. These monies will be repaid in instalments and included in the flat fee, interest free.

The 70 apartments at Hope Estate were completed in March 2010.