Basque Government is making retrofitting affordable30 Jun 2017
As a result of the SmartEnCity efforts, the Basque Government and the City Council of Vitoria-Gasteiz have decided to grant complementary aid to the European, regional and local aid reserved for promoting the project, in order to facilitate access for those people with limited income and difficulties to obtain funding.
This aid will enable these housing owners to cope with the non-subsidized costs of the refurbishment. It will cover 25% to 85% of the non-subsidized costs, according to the family income of the cohabitation unit. This aid can be accessed by individual property owners for their usual and permanent dwelling. They need to have been registered at this home for 5 of the last 10 years, need to have a family income of below 15,000 Euros per year and cannot own any other property.
Besides the Guarantee Fund, another tool has been established to facilitate the funding of the part of the project not covered by public aid. This financial agreement promoted by VISESA has been adhered to by Kutxabank, Laboral Kutxa, Bankoa and Rural Kutxa. In this agreement, very interesting financial conditions are regulated, so that private neighbours, such as communities, can get access to loans for between 8 and 12 year terms, which will enable them to cope with monthly quotas in accordance with their financial capacity.
Neighbours can go to these financial institutions, who will learn about the project and study the needs and each particular case of the applicants.