The State Fund wants to support housing construction with one billion crowns

Prague - The State Housing Development Fund (SFRB) wants to support the construction of apartments with loans up to one billion crowns, and its expenses next year will rise to 2.188 billion crowns. This follows from the budget proposal approved today by the parliamentary committee for public administration and regional development. The government had already approved the proposal in September, and it must also be sanctioned by the deputies.
     The SFRB budget for next year forecasts revenues of 886 million crowns. Of this, 656 million crowns will be repayments from provided loans and one hundred million interest from provided loans.
     According to the budget proposal, expenditures are expected to exceed 2.18 billion crowns. In addition to loans to individuals and legal entities for residential construction exceeding one billion crowns, more than 790 million crowns will be consumed by interest subsidies for loans for the reconstruction and modernization of apartment buildings from 2001 to 2010.
     The current SFRB budget proposal also does not account for direct subsidies for housing support. The fund will provide new support only in the form of repayable loans and guarantees for the repayment of commercial loans. The only form of subsidy will be assistance to young people who will have the principal reduced upon the birth of a child, and the corresponding annual portion of the commitments arising from the Panel program will be paid out. The total reduction of the principal is expected to reach up to 60 million crowns.
     Next year, the provision of loans from EU funds through the JESSICA program is expected to continue. In the first test phase, the Czech Republic has a total of 609 million crowns available until the end of next year. "We anticipate that next year, 377 million crowns will be drawn. This will deplete the entire amount," SFRB director Eva Helclová stated before members of the parliamentary committee.
     The SFRB mainly operates with its own funds and requests approximately a quarter of a billion crowns from the state budget. In revenues, however, it only accounts for the reimbursement of actual expenditures designated for the provision of non-repayable subsidies totaling 129 million crowns.
     The State Housing Development Fund collects financial resources intended for housing support. It operates with its own funds and also distributes contributions from the relevant EU funds. Its goal is to support private and municipal investments in the construction, repair, and modernization of apartments.