The Government is moving ahead with legislation to protect property values in gated communities.
“We are now developing the gated community legislation,” said Prime Minister, the Most Hon. Andrew Holness, noting that it will be similar to the Act governing strata corporations.
The law empowers the corporations to enforce the payment of maintenance fees. It also addresses disputes between parties and general communal living issues in order to maintain orderly community existence.
The Prime Minister noted that too many persons cause the value of communities to diminish by erecting structures and doing other things that are not in accordance with the purchase agreement.
Addressing the handing over of keys to beneficiaries of the National Housing Trust’s (NHT) Berkshire Court housing development in Spanish Town, St. Catherine on Friday (September 29), the Prime Minister urged the residents to ensure that the houses remain valuable “by the way they organise the community”.
”Do everything in your power to protect the value of this property in which you have invested,” he said.
Mr. Holness advised them to form a citizen’s association, noting that “this Government is going to give such association the legitimate authority to act.”
The $906 million Berkshire Court development comprises 44-two bedroom town houses.
It includes basic services such as electricity, street lighting, potable water, and areas for the houses to expand. There are green spaces and an entrance gate with facility for a security guard.
Land has been earmarked for commercial and community recreational facilities.
With the NHT introducing new policy arrangements this year, including increasing the loan limit and reducing the interest rates on mortgages for lower-income groups, Prime Minister Holness said these measures are making it easier for more persons to own a home.
Photo: Yhomo Hutchinson