SANTO DOMINGO- The Dominican Institute of Civil Aviation (IDAC) will grant a bonus of RD$100,000 to the employees of that department of the Dominican State, as an additional benefit to the subsidies that the Government provides to the beneficiaries of the Happy Family National Housing Plan.
The decision is contained in an agreement signed between the Ministry of the Presidency (Minpre) and the IDAC, signed by the heads of those departments, Minister Joel Santos Echavarría and Héctor Porcella, in the presence of the Vice Minister of Investment Projects of Minpre and head of the Fonvivienda Trust, Camel Curi Lora.
Santos Echavarría praised IDAC's initiative to join the Happy Family Plan, stating that it provides an opportunity for employees of that institution who do not yet own a home to access decent housing.
Joel Santos Echavarría and Héctor Porcella during the signing of the agreement. (External source).
He reaffirmed the Government's commitment to developing the largest state-supported housing program to reduce the housing deficit that the Dominican Republic has historically faced.
For his part, the director of IDAC, Héctor Porcella, stated that the agreement is of utmost importance, as it allows IDAC staff with limited resources to obtain housing for their families.
Meanwhile, the Deputy Minister of Investment Projects of the Ministry of Foreign Affairs, Camel Curi Lora, indicated that this bonus complements those already existing within the Happy Family Plan, as well as considerably reducing the cost of housing for each of the families of the IDAC.
Through the agreement, the Ministry of the Presidency, through the National Housing Fund (Fonvivienda) and the Dominican Institute of Civil Aviation (IDAC), committed to establishing an inter-institutional alliance, for the execution of joint strategies and thus satisfy the housing needs of the employees of the governing body of civil aviation in the country.
Likewise, IDAC acknowledged that the subsidies will be granted according to Fonvivienda's operating scheme, made up of the bases and conditions for the processing, registration and obtaining economic assistance for the acquisition of their first home to low and middle income families, based on the instructions, regulations and complementary regulations approved by the Trust's Board of Directors.
The document, accepted by the parties, also recognizes that subsidies can only be applied to the acquisition of social housing located in low-cost housing solution projects, which will be developed through Fonvivienda, and which have the corresponding qualification certificate.
Government subsidies
For housing finance, the government offers three subsidies: the Initial Subsidy, which contributes to the down payment for the purchase of a property; the ITBIS Subsidy, which applies to first-time homebuyers; and the Interest Rate Subsidy, which provides assistance with mortgage loans for seven years. In addition, the Women's Subsidy is also offered, aimed at single mothers and women who have been victims of abuse and mistreatment.
