VIDEO: “The Cole Truth” interview – 21 Feb 2018

cole truthThis is an interview I did on the show, ‘The Cole Truth with Kimm’, on State Housing Policy & Program with host Kimmie Cole. Video courtesy Synergy TV.

Programme Length: 01:04:35
Programme Date: Wednesday 21st February 2018

Property Matters – Examining the PPP

The HDC launched its first housing Public Private Partnership (PPP) on 3 November 2016 at Mahogany Court, a 160-apartment complex at Eastern Main Road, Mount Hope. It is being designed, financed and built, at a cost of $145M, by NH International, led by my erstwhile friend and colleague, Emile Elias, with completion due in December 2018.
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The PPP approach to public procurement is one in which the private sector assumes the risks and constructs a project with repayment of that investment taking place over a period of time, usually from the State’s recurrent expenditure. This a controversial public procurement method, with the detailed reviews of completed projects being heavily criticised for the fact that the private sector has not actually taken much risk. It seems that these contracts often contain provisions which shield the private sector from serious risks. The introduction of PPP into our public housing program therefore deserves careful scrutiny, if we are to avoid the serious losses experienced in more advanced jurisdictions.

This PPP uses no Public Money, the State’s only investment being the value of the land, which was not mentioned thus far. The approach was outlined at pg 31 of the 2017 budget as being one in which the contractor will provide short-term finance to design and construct new homes, which will then be purchased by approved applicants on the HDC’s waiting-list. Those purchases will be funded by TTMF and the purchase prices will be used to repay the contractor. Continue reading “Property Matters – Examining the PPP”

Raymond: Housing strategy requires ‘disciplined effort’

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HDC housing in central Trinidad. Chaguanas is the fastest growing town in T&T.
HDC housing in central Trinidad. Chaguanas is the fastest growing town in T&T.

The Trinidad and Tobago Guardian published part 2 of its interview with Afra Raymond in the 1 September 2014 edition of the newspaper.

Recent reports that the HDC housing waiting list has reached 200,000 have thrown up questions about strategies for land usage, housing design and urban planning in T&T. In our series on housing, JOSHUA SURTEES speaks to architects, planners and surveyors to find out if there is enough land available, whether everybody on the list can get a place to live and what kind of accommodation makes best use of space while providing comfortable, functional living that complements people’s lifestyles. Part four features AFRA RAYMOND, president of the Joint Consultative Council, MD of Raymond & Pierre Ltd chartered surveyors and an expert on land usage issues, procurement and housing.

How many ultra-rich, multiple homeowners are there?

How many, I don’t know. But as a practitioner I can tell you it’s a significant part of what takes place. It informs how, when parcels of land become available, what are the forces that compete for it, and this is where the boundaries between public and private become very elastic. If the forces on one side have the capacity to go after that piece of land and get it before the government, that has an effect on what options are available to the government to build affordable housing…

For More, click here.