The Prague City Council agreed to provide a repayable financial assistance of CZK 35 million to Prague-Slivenec for the completion of the Ke Smíchovu apartment building project. The loan would then be repaid to the capital city annually for 15 years. The proposal still needs to be approved by the City Council. Prague.

The provision of a CZK 35 million loan would enable the capital city of Slivenec to finance the construction of the Ke Smíchovu apartment building. The project started to be prepared in 2017, and the building permit is due in 2021. After the project is finalised, the district will have 20 new flats for its citizens, which will significantly expand its housing stock.

The municipal district intends to repay the borrowed funds over a period of 15 years in regular annual instalments starting in 2025. The majority of the repayments will be covered by rental income, which will not overburden the municipal district. In the past, Slivenec has already received CZK 65 million from the Affordable Housing Development Fund for the project. The proposal still needs to be approved by the City Council. Prague.