The Chamber of Faro will build 205 social housing units over the next four years, 49 of which «are intended for the relocation of fishermen from Praia de Faro».
These houses will be built as part of a social housing construction program at controlled costs.
Of the 205 social housing houses, those that are not for people who have to leave Praia de Faro, within the scope of the intervention of Polis Ria Formosa, will be delivered "to needy families in the municipality", according to the Chamber of Faro.
"In parallel to this process, the Chamber is also already in progress with the process for the construction and sale of 90 dwellings at controlled costs," added the municipality.
For this, 28 million euros will be needed, a sum that will be guaranteed not only by the municipality, but also by the Institute for Housing and Urban Rehabilitation (IHRU), with which the City Council has already reached an agreement to share the costs.
The protocol to be signed between the municipality of Faro and the IHRU was approved on February 1st at a meeting of the municipal executive, now missing the green light from the Municipal Assembly.
Under this agreement, the IHRU guarantees a non-refundable contribution of almost 12 million euros. The remaining financing will be carried out «through the contracting of a subsidized bank loan, of 15.278.408,01 euros, and the Municipality's own funds of around 800 euros».
“The mechanism for accessing these funds is the Support Program for Access to Housing (1st Law), a state program that aims to promote the right to decent housing and which fits into the Local Housing Strategy of Faro, an instrument approved by the Municipal Assembly on 26 November 2018», explained the Chamber of Faro.
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