camera of Faro will have 4,8 million more to do "nuclear works"

The Chamber of Faro it will have another 4,8 million euros to invest in nuclear works, after the Court of Auditors gave its favorable approval, on 30 October, to a loan agreement signed between the municipality and Caixa Geral de Depósitos.

This funding, which is spread between the years 2019 (2.500 euros), 2020 (about 2,7 million) and 2021 (about 2 million), is intended to implement a set of interventions that are "crucial" in the understand the Chamber of Faro.

Thus, the programmed interventions and whose procedures can be launched from now on are the Official Animal Collection Center (budget at 1,25 million), the Cultural and Innovation Center of Bordeira with the Stone Museum and the Accordion Museum (1,2 millions); the first phase of the future 3rd Circular, from Avenida 25 de Abril to Estrada da Penha (850 thousand euros), the redevelopment of Mata do Liceu (850 thousand euros) and also the redevelopment of the centenary Alameda João de Deus (650 thousand euros) euros).

Regarding the conditions of the contracted loan, the municipality of Faro says that "they are quite favorable, with a spread of 0,74% and without floor when Euribor presents negative values, as it currently happens, allowing today's date for the loan agreement to spread of only 0,5%».

With the granting of the visa by the Court of Auditors for this contract, the Municipality of Faro he says he sees "recognised for its strategy, which was based on the implementation of strict management mechanisms and a great increase in the municipality's productivity."

To Rogério Bacalhau, president of the Chamber of Faro, these are the essential factors that «allowed the decrease of the Municipality's total debt, in ten years, from around 71,7 million euros to just over 19 million, thus recovering the capacity that the Council, today, undeniably , it has to make a decisive intervention in the quality of life of all Farenses and of those who visit us».

On the occasion, the mayor from Farense did not fail to note the regained credibility of the local authority "which can now go to the bank, calmly, whenever the credit conditions are favorable, and thus better manage the financial resources it has at its disposal. ».

This will be a loan payable in 12 years.