BRUCE GET POSITION

Former Prime Minister Bruce Golding is tipped to become the first executive chairman of the National Housing Trust (NHT).
The Gleaner understands that the decision to appoint Golding, a former construction minister, was made late last week.
The announcement of the new NHT and other public boards is scheduled for Thursday.
As executive chairman, Golding is expected to take on the day-to-day management of the affairs of the NHT.
The original mandate of the Trust is to lend money at low interest rates to contributors who wish to build, buy or repair/improve their houses, or who wish to buy or build on lots.
However, as part of his pre-election 10-Point Plan, Prime Minister Andrew Holness committed to allow people to access 60-year mortgages from the NHT, instead of the traditional 25-to-30-year loans.
LIMITED IMPACT
But Howard Mitchell, the former chairman of the NHT, said this multi-generation mortgaging to improve access to housing would have limited impact.
In its manifesto, the Jamaica Labour Party (JLP) pledged to reform the NHT, the Housing Agency of Jamaica, and the Jamaica Mortgage Bank. It also promised to expand affordable housing construction and reduce interest rates on mortgages. The JLP manifesto also spoke to the creation of the 50-to-60 year mortgage to make payment easier.
The NHT, in its current role, develops housing schemes for sale to contributors and provides low-cost financing to private developers.
The strategic priorities include:
– More houses for less for contributors.
– Sustain business viability through performance and relevance.
– Optimise operations and service delivery through efficiency and customer service.
– Build performance-oriented teams in terms of process, technology and attitude.
The NHT’s role came under scrutiny in late 2014 after its board purchased the Outameni Experience that provoked a public stir with the then Opposition calling for the wholesale resignation of the board.
And, before that, the Government, in 2003, withdrew $5 billion as a one-off payment to finance education. The Government, however, targeted the so-called cash-rich entity again in 2012.
Approximately $45 billion, or just over $11 billion annually, was deducted over the succeeding years to pay down Jamaica’s debt.
Golding led the Jamaica Labour Party (JLP) to its first victory in 18 years back in 2007, before stepping aside in late 2011 amid the Christopher Coke scandal, making way for the ascension of Prime Minister Andrew Holness.
Golding, the retired politician who served as construction minister between 1983 and 1989 in the Edward Seaga administration, replaces Easton Douglas, who served as chairman of the NHT. Following the 1980 election, Golding was reappointed to the Senate and, at age 32, appointed minister of construction in the new JLP government.
During his tenure, the construction sector, which had reportedly declined by 68 per cent under the People’s National Party administration of the 1970s, grew by 43 per cent. It is also reported that Golding presided over the construction portfolio when 25,000 new housing units were built.
There was the promulgation of the National Shelter Sector Strategy, which was acclaimed by the United Nations Commission on Human Settlements and used as a model in several developing countries.
Golding was also construction minister when Rent Restriction laws were reformed to encourage new construction while providing protection for tenants.
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