Tel Aviv allocates NIS 100 million to renovate residential buildings

Tel Aviv – Jaffa Municipality announced this morning that it will allocate NIS 100 million over the next ten years to renovate 1,000 residential buildings per year. Incentives include a grant of NIS 5,000 per tenant and a grant of NIS 10,000 as part of community projects for shared apartment buildings. The municipality’s housing company, Ezra Opizaron, will implement the plan. The municipality spokesperson said, “The expanded incentives are just one measure in the municipality’s plan, set as a goal, moving away from years of sporadic and local renovations to a sustainable maintenance approach. In the urban center the policy will be a societal aspect, including fostering a sense of partnership in Shared buildings.According to the research conducted by the municipality, a sense of belonging and a desire to invest in residential areas increases residents’ sense of a stronger and more positive community Along with incentives, in the next few months the municipality will approve an additional set of tools including increased enforcement, and the creation of standardized standards For renewal, and more.” The municipality spokesperson added that within the framework of the survey conducted at the initiative of Ezra Opizaron, it was found that the value of renovated homes increased by an average of 3.4%. As part of the incentive package, it was decided that the 50 ferrets buildings requesting a grant each year would have the special benefit of a grant of up to NIS 10,000 to fund a community project on a common property. This project includes the development of gardens, communal storage areas and bicycle storage accessories. Applicants can also receive up to NIS 20,000 per building, provided they start work within six months. The municipality will also assist housing committees to deal with those individual tenants who refuse to cooperate with the renovations. Provided there is a 70% consensus in an apartment building, the municipality will temporarily fund the share of the holdouts so that renovation is not delayed. Tel Aviv-Jaffa Mayor Ron Huldai said: “The new plan is a game changer. After two decades during which we have been implementing comprehensive modernization of public infrastructure, on sidewalks, roads, streets and parks, taking care of street furniture and the appearance of public spaces, we will now work intensively with owners homes to properly strengthen and renovate the homes they live in. We’re not just talking about aesthetics – although that’s not a dirty word but a true urban value, the visual appearance of public spaces will give back entire areas of the city to their residents, contributing to a vibrant community life, It increases the attractiveness of a city street and contributes to business and commerce, and enhances a sense of personal security and well-being. And yes it is also the aesthetics that will create value for tenants and homeowners.” Published by Globes, Israel business news – en.globes.co.il – on July 14, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021