Housing associations can apply under the new law to obtain official status as an admitted institution. This places them under the supervision of the Housing Corporations Authority. This enables them to participate in the Social Housing Guarantee Fund, which guarantees loans and makes financing possible at lower interest rates.
More homes and better livability
The improved access to financing enables housing associations to build more social rental homes, better maintain existing homes, and invest in the livability of neighborhoods. This is urgently needed because the shortage of affordable housing on the islands is large, especially for people with low and middle incomes. The bill also contributes to tackling poverty.
The BES Housing Act will ultimately be included as a separate chapter in the Housing Act and is specifically tailored to the local circumstances on Bonaire, Sint Eustatius, and Saba.