At a press Conference last Tuesday (24) The Hon. McKeeva Bush announced an update to the Save the Home Programme.

“On the 15^th of December 2011,” he said, “the Cayman Islands Government received 2.5 million US dollars, equaling 2.05 million CI dollars from Dart Realty Limited for the Save the Home Programme. On the 17 February the Ministry of Finance met with Auditor General.

“The Save the Home Programme has received 165 applications to date. It took an average of 1-2 months to receive all documentation in order to fulfill the criteria to process each application. Of these 165 applications, 81 have been approved totaling approximately one million CI dollars and will be forwarded to Treasury for payment and placement of a second charge on the property by the end of the week.

“Fourteen applications have not met the criteria. Eighteen applications have been placed on hold due to the financial institution withholding approval to restructure or denying the Government a second charge on the property. Three applications were withdrawn by the applicants. Ten more applications are complete and are waiting to be reviewed by the Save the Home Committee. Thirty-nine applications are currently being processed.”