Swakop council to generate millions in property sales

SWAKOPMUND: The Swakopmund Municipality is expected to rake in about N.dollars 90 million in property sale transactions during the 2014/15 financial year.

The chairperson of the Swakopmund Municipality Management Committee, Alderwoman Rosina Hoabes last Thursday at the council meeting said such a transaction will put the council in a more favourable position to finance its anticipated projects for the financial year.

She said that with the anticipated property sale transactions the council will generate revenue in excess of N.dollars 90 million and this, together with current available funds, will place their council in a more favourable position to finance the projects anticipated for the 2014/15 financial year.

The capital budget amounts to N.dollars 175 million. Of this amount, about N.dollars 88 million is for continuation projects, while more than N.dollars 86 million is earmarked for new projects, according to Hoabes.

An amount of N.dollars 39 million is earmarked for the completion of a new effluent purified reservoir, and for the expansion of the effluent water supply to the rest of the town to develop public open spaces, as well as for the development and enhancement of parks and gardens.

An amount of N.dollars 35,8 million has been allocated to the resurfacing of roads in the town.

SOURCE: NAMPA