The Housing Cabinet has approved a series of measures in the areas of urban renewal in the periphery

wwwww

by Ifi Reporter Category:Real Estate Dec 19, 2021

The Housing Cabinet, headed by Minister of Construction and Housing Zeev Elkin, convened and approved a series of measures in the areas of urban renewal in the periphery and grants as part of a target price program.
Among other things, Minister Elkin's proposal to promote urban renewal projects in the periphery, funded by the government, was approved. Under the program, the Government Authority for Urban Renewal will issue a call for the selection of urban renewal projects in peripheral localities, and the selected projects will be given a grant to carry them out. The grants will be funded by the Urban Renewal Fund, in the amount of NIS 70 million, to which will be added an additional government budget in the amount of NIS 40 million. In addition, the Ministry of Defense will allocate NIS 167,000 for each existing housing unit in projects that choose localities in a line of conflict in which the Ministry of Defense currently promotes the addition of security units for security protection purposes.

In many peripheral localities, there is a real need for the renovation, strengthening and protection of the buildings. However, in view of the low land values ​​in these localities, renewal projects are not promoted by the free market forces. Thus, government grants for projects should enable the processes of urban renewal in peripheral areas, strengthening buildings and saving human and property lives, while in the calling voice a unique reference will be made to projects in localities located in high seismic risk areas.
The projects that will participate in the program are expected to affect nearby neighborhoods, and lead to increased entrepreneurial activity in additional neighborhoods in peripheral cities. In addition, these projects will also be used to examine the most effective ways to use the government budget to promote such projects in the future.
In addition, the Minister of Construction and Housing will appoint an inter-ministerial committee to examine and formulate recommendations to the government on the tools needed to encourage urban renewal in peripheral localities. The committee will be headed by the director general of the Ministry of Construction and Housing, Aviad Friedman, and the director of the Government Authority for Urban Renewal, Elazar Bamberger. The committee is expected to submit its recommendations to the Minister of Construction and Housing within 120 days.
According to Minister Elkin, "The proposal currently approved by the Housing Cabinet will add housing units, allow local authorities to grow and strengthen and increase the quality of life of the old and new residents who come. Urban renewal has the potential to bring the periphery to the center." In cooperation with the local authorities, the developers and the residents, we will succeed in creating a quality living environment throughout the country. "
Bamberger added, "Along with the government's action to remove barriers to urban renewal activity in areas of demand, it is our duty to extend urban renewal to peripheral areas as well. "An important first step in this direction. A rapid implementation of the program will make it possible to examine its achievements and a stable infrastructure for further government measures in the field."
The Housing Cabinet also approved the granting of grants to apartment buyers as part of a target price plan. The grants will be given between the years 2022-2027, to those entitled to the Ministry of Construction and Housing who purchase an apartment under the program in areas where the price of the land without development expenses is less than NIS 100,000 per housing unit, without VAT.
A grant of NIS 40,000 will be given to those eligible for the ministry who will meet the eligibility conditions for the program and purchase their apartment in the localities that will be defined. In addition, a subsidy of development expenses in the amount of NIS 50,000 per housing unit in a complex where land prices without development expenses are lower than NIS 50,000 per housing unit, or NIS 30,000 in a complex where land prices without development expenses are higher than NIS 50,000 per housing unit but do not increase About NIS 100,000 per housing unit.
In addition, the Cabinet approved the planning and marketing goals for housing in 2022 for the Ministry of Construction and Housing and the Israel Land Authority. The main goal is to reach 60,000 transactions, 90,000 units in the submission of plans, 84,000 units in marketing. It was also determined that in minority localities the marketing target will not be less than 5,000 housing units by 2022.
A target of 10,000 housing units has also been set to be marketed for long-term rental housing units, of which 3,500 housing units will be within a reduced price, and a detailed planning target for 125,000 approved housing units in 2022.

260 Views

Comments

No comments have been left here yet. Be the first who will do it.
Safety

captchaPlease input letters you see on the image.
Click on image to redraw.

ABOUT IFI TODAY

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum

Testimonials

No testimonials. Click here to add your testimonials.