After signing of the agreement by Mon Perin Foundation and Bale-Valle Municipal Council in September, today saw official confirmation of the methods for cooperation between the first 5 families involved in the project, the Mon Perin Foundation, Bale-Valle Municipal Council and the IF Projekt construction company. This agreement responds to the need to facilitate access by young families to the capital necessary for building their homes on land granted by the Bale-Valle Municipal council at the symbolic price of 1 kuna.
After the initial difficulties encountered by these young families, who saw their loan applications turned down, the Mon Perin Foundation stepped in as guarantor. An agreement reached with the bank in question will mean that the Mon Perin Foundation will cover—for the first three years—50% of the interest due on the loans, meaning the family only pays back the initial capital borrowed.
In addition, in agreement with the IF Projekt construction company, the Mon Perin Foundation will provide further support for these young families, by acting as guarantor for selection of the best suppliers and supervising construction of the homes and the project as a whole.