PM: More than $30m for flood relief

GOVERNMENT has spent over $30 million on flood relief effort, the Prime Minister disclosed on Friday.

Recalling the initial figure proposed was $25 million, Dr Rowley said, "We have since gone past that and we may go a bit further." He could not say what that final figure could be but Rowley indicated Government is committed to doing all it can to help people affected by floods two weeks ago "get back on their feet."

The PM said, "At the end of the day, it will be a tidy sum." He spoke during a news conference at Tower D of the Port of Spain International Waterfront Centre.

Last Thursday, Newsday reported that Government had printed and distributed at least $30 million in cheques for approximately 30 per cent of the people affected by the floods on October 19 floods . He reiterated that grants of $15,000 and $20,000 were approved for flood victims who were single individuals and families respectively. Rowley said Government will also respond to those people who "suffered physical damage to the homes where their plumbing or their structure has been damaged."

The PM restated that Greenvale residents would have a three-month deferral of their mortgage payments to the Housing Development Corporation (HDC). Rowley explained this meant the residents could use money allocated for their mortgage payments to help them rebuild after the floods. Residents, Rowley continued, would not suffer any penalty during this period. But he made it clear "no person should interpret a deferral to mean a waiver."

Saying no member of the government can instruct the HDC to waive the mortgage liabilities of its clients, Rowley said, "People who own those properties have contracted mortgage liabilities. They can't walk away from those liabilities if they are to preserve their homes." The PM said Greenvale residents should not fear their properties would be devalued as a result of the floods.

He was confident the value of properties in Greenvale would "bounce back" once the necessary engineering and other works to mitigate flooding in the area are done. Rowley recalled similar fears expressed about Diamond Vale, Diego Martin years ago after severe flooding. He said today property values in Diamond Vale have improved considerably.

Rowley also said there is no reason why insurance companies would not insure HDC properties that were affected by floods. Referring to his own house in Goodwood Park, Rowley said it was par for the course for insurance companies to evaluate risks for homes in all parts of the country.