OREANDA-NEWS. The Supervisory Board of the Agency for Housing Mortgage Lending has approved the Programme for financing the purchase of engineering and technical facilities (hereinafter - the Programme).

The Programme is designed to provide financing for the purchase of engineering and technical facilities within the Russian Family Housing Programme after commissioning the low-income housing and the sale of housing at a special price for certain social categories.

The programme provides for the introduction of a new financing mechanism that should ensure an inflow of long-term borrowings to the housing construction market. The mechanism is based on the possibility to issue bonds backed by collateral pursuant to new legislation on the securities market. The issuers of these bonds will be special project financing agencies (hereinafter - SPFA), the establishment and management of which is planned to be carried out by AHML.

The programme envisages that SPFA will purchase commissioned engineering and technical facilities from developers. In this case, the purchase price of these facilities should not exceed 4 000 roubles per square meter of low-income housing within the Russian Family Housing Programme. Thus, it is possible to reduce the costs incurred by the developer for the construction of low-income housing and engineering facilities, which results in a decrease in the cost of housing that is sold to citizens.

An engineering and technical facility bought out by SPFA is rented out to a specialized resource supplying organization responsible for utility resources supplies in the region. As a result, SPFA, possessing engineering and technical facilities and a cash flow from renting out these facilities, can issue bonds secured by engineering and technical facilities and rental payments for them from the resource supplying organization.

The implementation of this Programme through purchasing utilities from the developer will allow to encourage developers and construction companies to participate in the Russian Family Housing Programme, on the one hand, and to reduce the price of new housing for people, thus achieving the goals of the Russian Family Housing Programme, on the other hand.

As of December 1, 2014, applications to participate in the Russian Family Housing Programme were filed in 66 regions of Russia with a total volume of low-income housing commissioning of 19.7 million square meters.

62 regions have already signed tripartite agreements with the Ministry of Construction, Housing and Utilities of the Russian Federation and the Agency for Housing Mortgage Lending, for the provision of engineering and technical facilities for the construction of low-income housing within the framework of the Russian Family Housing Programme. 31 regions have already completed the selection of land plots for the construction of low-income housing.