Central Housing and Planning Authority

96 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 12 CENTRAL HOUS ING AND PLANNING AUTHOR I TY “Banks and credit unions offer better terms and aid in managing the financing options,” Richards continues, “and ensure adequate checks and balances of accountability and quality control at the various financing stages of construction.” “Participating contractors construct within the appropriate scope, budget, and timeline. Profit is based on volume rather than on price gouging. Securing future markets within government programs is becoming the primary driving force and a key motivator for our partners.” “It results in faster project completion and reduced project delays by including time-to- completion as a critical measure of performance. A crucial component of profit as failure to stay on schedule now comes with financial penalties.” Other factors that favor PPP include a return on investment (ROI) of 30 – 40% on completion of the properties, giving exceptional value for money, and putting many Antiguans on a firm (268) 480 6090 info@ecabank.com Find us on | | Need a Mortgage ? We’ve got you covered financial footing for the future. In addition, innovative design, methods, and financing approaches are becoming more available. Richards adds that risks are better appraised early to determine project feasibility. In this sense, the authority’s private sector partners serve as a check against unrealistic promises and expectations. Further cementing the authority’s future is an effort to streamline internal operations to better respond to market needs. “Within our internal operations, we have continued to control and cut costs, track, and measure our departments’ operational efficiency to adjust and optimize the use of available resources,” Richards says. “We have upgraded our IT infrastructure and continue digitizing data and updating customer contact lists. We are also creating a new website to reduce contact time, cost of disseminating information, and accepting the submission of applications through the online portal.”