FOUR village housing scheme loan accounts in the West worth $370,000 have been partially written off by the Housing Authority
The schemes are Namotomoto and Navoci, Nadi (41 homes); Nakorodamu Village in Bukama, Yasawa (12 homes): Saunaka Village, Nadi (four homes): and Korovou Village, Ba (one).
Authority board chairman Colonel Mosese Tikoitoga said the initiative was funded through a government grant and authority provision to village housing schemes that paid more than one and half times the principal loan and were facing financial difficulties repaying the remaining debt.
Col. Tikoitoga said the partial write-off brings to 14 the total number of village housing schemes that had been assisted by the authority's social housing policy.
He said 10 village scheme accounts were written off in the West and North and totalling $505,000.
"The move to partially write off these village housing schemes alongside individual homeowners' loans was to assist homeowners facing genuine financial difficulties," he said.
"The authority is reducing the remaining debt so they can make more affordable repayments as well as pay off their home loan accounts sooner."
Col. Tikoitoga said as a condition once the scheme loan was written off, no further loan would be issued to that particular scheme until the total amount assisted was repaid in full.
"To ensure that more communities benefit from these housing programs, Housing Authority will be evaluating other village housing schemes to determine if they qualify for assistance under the approved policy."
Iliaseri Varo of Namotomoto, Nadi, the chairman of Nakovacake Development Trust, said the news was a boost to the villagers because many homeowners had just recovered from the impact of two floods and a cyclone last year.
"We are happy with the initiative taken by the authority and we thank the Lord for his blessing."