Kiev city council has given developers a month to pay royalties on the development of city infrastructure

15.04.2011 11:03
Property News | Kiev city council has given developers a month to pay royalties on the development of city infrastructure Kyiv City State Administration offers investors a building that did not make mandatory contributions to the city budget, within a month to meet its obligations, otherwise the town will be forced to initiate the termination of investment contracts by agreement or through court. UNIAN was informed about the press service of the KSCA referring to the deputy chairman of the KCSA Ruslan KRAMARENKO.

According to the report, the decision was taken yesterday, April 13, at a meeting of a standing committee of the competition to attract investors to finance the construction, reconstruction, restoration of residential and nonresidential, unfinished construction, engineering and transport infrastructure of the city.

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According to R. KRAMARENKO, ten troubled investment objects, which were considered at the commission meeting, the liabilities amount to over 167 million UAH. In particular, it is 1% of project costs - compensation to the city budget for organizing the contest and 5-10% - a contribution to the creation of social and engineering-transport infrastructure in Kiev.

"In 2008, the payment of contributions to the city budget for these contracts has been delayed indefinitely. Now part of the grounds occupied by investors who do not pay money in the budget and in most cases do not engage in any activity. Therefore, we will oblige investors to pay months of 1% for organizing the competition (for now their debt at 14.8 mln.) And offer to enter into further agreements on harmonizing the term deposit facilities and payment of funds to build the social and engineering-transport infrastructure of the city (152.4 mln.). In case of refusal of investors, we will initiate the cancellation of such contracts ", - said R. KRAMARENKO.
Content tags: Property developers Kiev
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