NUEVO CHORRILLO HOUSING COOPERATIVE

investors. Loans will be re-lent to the Nuevo Chorrillo Housing Cooperative (NCHC) to develop a replicable low-income cooperative housing program at Arraijan at commercial rate financing. A total of 700 single family units, 300 sq m in size, will be built, along with a community center and a public green. Cooperative members will be trained to assist in construction. Four types of units will be constructed: a minimum shelter consisting of a single unfinished room plus bath; two minimum shelters with cumulative additions of interior partitions and complete finishing; and a completely finished three-bedroom unit. The institutional capabilities of the NCHC will be strengthened. The cooperative will expand its social services in such areas as transportation and employment. In addition, its present membership will be increased from 525 to 2,100 families. To accommodate this additional housing demand, the NCHC will use local financing arrangements. The NCHC will also serve as a replicable model for other cooperatives and families existing under similar conditions. A cooperative office will be established within the BHN to enable it to work directly with cooperatives. Linkages will be established between BHN and the Fundacion Panamena de Vivienda Cooperativa (FUNDAVICO) to faciliate the identification, promotion, and development of cooperative organizations, particularly among low-income families; and the design, construction, and long-term financing of housing projects affordable by the latter. The increased collaboration among BHN, FUNDAVICO and neighborhoods, etc., should produce these additional housing projects. Grant funds will also be provided to finance AID/W technical assistance to BHN, FUNDAVICO and the cooperatives in developing this and similar projects.