Dominicans abroad; No down payment on homes up to US$31,000

New York.- PresidentDanilo Medina on Sunday said Dominicans abroad won’t have to pay the down paymentfor low-cost housing of not more than RD$1.4 million (US$31,000).

Heading a town hallmeeting in Upper Manhattan´s Hermanas Mirabal school Sunday evening, Medina alsosaid Congress studies the creation of the Institute of Dominicans Abroad, forwhich he will issued an executive order the coming days.

He said the low-costhousing would be built with resources from the Pension Fund via the Public andPrivate Trust Law so that in most cases allows the population can buy a houseor apartment with no down payment because the legislation provides ITEBIS taxbreaks of up to 18% and government-owned land.

"Many people saythey don’t see that (less poverty), but whoever doesn’t want to see, don’t tosee it."

Medina arrived in theschool at 4:40pm, accompanied by Administrative Minister Gustavo Montalvo; WomenMinister Alejandrina German; Economy Minister Temistocles Montas; ForeignMinister Andres Navarro, among other officials and prominent members of theruling PLD party.