Residents of Ruthven Towers in New Kingston whose vehicles were damaged by flood waters last November have been compensated by the National Housing Trust (NHT) to the tune of $44 million.

So far, 11 of 14 affected residents have received payments.

This was revealed on Tuesday by the Managing Director of the state-owned NHT, Martin Miller, who was appearing before the Parliament’s Standing Finance Committee which is examining the 2023/24 Budget.

WATCH: Sandbags placed at Ruthven Towers amid flooding concerns

Miller, who was responding to questioning from the Opposition Spokesman on Finance, Julian Robinson, said of the amount already paid to residents, $30 million came from the NHT’s self-insurance. He said the balance of $14 million will be paid by its insurers.

Miller told Robinson that the NHT’s board had signed off on an estimated $60 million to compensate the affected residents.

Miller explained that an estimate of $60 million was agreed as a payout and that to date 11 of 14 residents have already been compensated.

According to the managing director, “we’re significantly below that amount ($60 million), we have three outstanding claims to settle (and) when those are settled we expect to be below the amounts approved”.

Robinson asked what steps the NHT has taken to prevent a recurrence of the flooding. Miller told the committee that the entrance to the complex has been redesigned. He said with a new tower to be constructed, a wall will be built with work set to start in another three weeks.

Clouded in controversy because the price of the apartments was significantly higher than what the NHT usually brings to market, the Trust was left embarrassed following the flooding of the basement garage of the high-rise complex mere months after it was occupied.

Having said it would have abandoned phase two of the project, the Government has since made an about-turn and has indicated that up to three towers could be built.