$100 million from LAMP Fund to support land titling
Cabinet has approved the use of $100
million from the Land Administration and Management Programme (LAMP) Fund as
grant funding to support land titling for approximately 2,000 beneficiaries
under the voluntary system of land registration.
This was disclosed by Minister with
responsibility for Education, Youth and Information, Karl Samuda, during
Wednesday’s (October 9) post-Cabinet press briefing at Jamaica House.
He said partial funding of $20,000 will be
offered as a full grant to landowners and up to a maximum of $50,000 will be
given as a conditional grant, which will be repayable only if the land is sold
within five years of receipt of the funds.
Samuda further noted that a caveat will be
lodged against the Certificate of Title to protect this interest.
Minister Samuda assured that the use of the
$100 million from the LAMP Fund will not deplete the resources of the facility.
He said that fees and other charges from beneficiaries of the grant will
revolve into the Fund.
Additional information on the programme
will be made available to the public, he explained.
