Russia: State Might Offer Apartments To Those Losing Homes in Schemes

UrBC, Moscow, July 30, 2019. People who’ve lost their money/prospective home in a housing building co-operative scheme might get offered apartments in completed or nearly completed buildings instead, RIA Novosti refers to Russia’s Vice Premier Vitaly Mutko as saying.

According to Mutko, the government is only starting to think over the mechanisms needed to make this work; a change is the existing legislation is necessary, which could be made possible during the Parliament’s upcoming session in the fall.

The proposal would serve as the third possible solution to the problem, in addition to getting the abandoned housing project completed and to reimbursing the co-operative members, Mutko said. He stressed that this third option could prove viable if the local Housing Building Co-operative Investors’ Foundation had new homes available in other apartment buildings on the market.

Mutko also said he would supervise the reimbursement procedure personally. The decisions would be made by the Foundation’s Supervisory Board on a case-by-case basis, he explained.


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