Submission of applications for ALTUM projects and financing of Riga Municipality for the reconstruction of multi-apartment buildings and landscaping of the territory has started
2021.11.09
In view of the planning for the new 2022 financial year, we invite clients to apply for ALTUM projects and financing of the Riga municipality for the renovation of multi-apartment buildings and landscaping. As a managing company we will help to prepare all the necessary documentation to attract financing for the projects.
“We see that both the state and local self-government bodies are increasingly thinking about the renovation of the housing stock, and it is encouraging. We would like our customers to get the most out of this kind of support programs, so we actively encourage our customers to contact us to draw up the necessary documentation together so that residents can really get the necessary financing for their home,” says Nora Birkena, Member of the Board of JSC CIVINITY Mājas, Head of Residential Building Management and Sales.
“Loan program for repair of apartment buildings” ALTUM
Since September, the submission of applications for the ALTUM program “Loan for the repair of multi-apartment buildings” is open. The total financing of the program is 31 million euros, and it is available to citizens in the form of loans. The funding is intended for the renovation of common areas of multi-apartment buildings and landscaping of the surrounding area, for example, such works as replacing the water supply or roof, equipping a children’s or sports ground, renovation of the facade of the house and other works that improve the condition of the house and create a more pleasant living environment.
The amount of the loan available for one house is up to 400,000 euros, but not more than 120 euros per square meter of the total area of the multi-apartment building. The maximum loan term is 20 years, the interest rate on the loan is fixed: 3.5% per annum. The loan agreement must be concluded by December 31, 2023. Applications for the program can be submitted by apartment owners through an authorized person if the credit institution has refused to issue a loan.
Riga City Council Program “Co-financing of Riga Municipality for renovation of residential buildings in 2023”
At the end of October, the Riga City Council also approved the regulations of the programs “Co-financing of the Riga Municipality for the renovation of residential buildings in 2023”. Projects for obtaining of co-financing can be submitted by the owners of residential buildings, which will help to gradually improve the technical condition of buildings. observing modern technical, including energy-efficient requirements.
The maximum amount of co-financing is set at 50% of the total cost of the project. Co-financing to prevent the dangerous technical condition of the building will be no more than
30,000 euros and up to 5,000 euros for the development of the relevant building project, while for energy efficiency measures (insulation of the facade, roofs and windows) – more than 50,000 euros for construction work and up to 1,000 euros for the development of the corresponding building project. Application term for co-financing is before May 6, 2022.
To make an appointment for a consultation on supporting the preparation of the necessary documentation, call the customer support service at 8000 1599, or write to [email protected] with the indication “Support for obtaining co-financing”.