The Process
The Project Promoters will assume initial financial risk for the servicing of land and the construction of housing. A contract will be drawn up to highlight the specific responsibilities of the Project Promoters and the Public Institution in this regard.
The Project Promoters will also assume technical and operational risk for the servicing of land and construction of the housing units, using the institutions specifications for turn- key projects
Upon completion of construction, the Project Promoters will turn over the completed infrastructure to the Public Institution.
The Public Institution will ensure full payment of the Project Promoters, through the financing partnerships it has created with the banks. The Institution benefits from the increased efficiency in comparison with the economics of financing the project with public funds.
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