$15M spent on Ivan-damaged homes

Almost $15 million has been spent on repairs to nearly 1,400 Hurricane Ivan damaged homes in Grand Cayman, Leader of Government Business Kurt Tibbetts said on Monday.

Answering questions at the first sitting of a new meeting of the Legislative Assembly, Mr. Tibbetts said that 688 homes had received help under the Housing Recovery Grant.

These were made up of 274 in George Town, 183 in West Bay, 167 in Bodden Town, 46 in East End and 18 in North Side.

Under the District Assistance Fund, 323 homes – 120 in West Bay, 56 in George Town, 128 in Bodden Town, 11 in East End and eight in North Side – received help.

The National Recovery Fund helped 382 homes – 159 in George Town, 112 in West Bay, 56 in Bodden Town, 27 in North Side and 28 in East End, he said.

‘While both the National Recovery Fund and the Housing Recovery Grant have worked feverishly to complete all major repairs to homes following Ivan, there are still homes requiring major repairs and even rebuilding,’ said Mr. Tibbetts.

The National Recovery Fund had reported that 100 homes required complete rebuilding while 200 required modest to major repairs, he said.

House members also heard that $50,000 was available for housing repairs to Ivan damaged homes on Cayman Brac.

Questioned about the total cost of running the National Recovery Fund, Mr. Tibbetts said that in the last 15 months of operation $250,000 had been spent on operational costs.

‘Based on funding income of $10 million running costs are therefore a modest 2.5 per cent meaning that for every dollar raised 97.5 cents goes on the building and construction effort,’ said Mr. Tibbetts.

‘Government has contributed 11 per cent of all funds and the remaining 89 per cent have been derived from the private sector, individuals, businesses and foundations,’ he said.

Government had no plans to cease contributions to the National Recovery Fund,’ said Mr. Tibbetts.

‘As long as there is a need to, the government will review to ensure that necessary and sufficient funds are being received by the fund,’ he said.

Mr. Tibbetts also told the House that a $500,000 donation had recently been made to the fund and that a $1.25 million donation was expected in a matter of days.

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