Montana: Municipality will request a loan for renovation of community center and youth house

20.05.2020

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Mayor of Montana municipality Zlatko Zhivkov will propose to Municipal Council to decide on assumption of municipal loan amounting to 1 million 115 thousand BGN.  It will be part of the cost for reconstruction, renewal, equipment and furnishing of the Youth House and Razum community center, the so called Chitalishte, as an important part of the cultural infrastructure of the city. This became clear from the information presented by Mayor Zhivkov today during the public deliberation. Two buildings are included in the general project "Development of cultural life in Montana municipality, through investments in the cultural infrastructure in the integrated plan for Urban Reconstruction and Development. The Operational Program “Regional Development”  (OPRD) finances implementation of projects under the plan.  Total value of the projects for the Community center and the Youth House is approximately 3 million 472 thousand BGN. Big part of this amount will be received, as a grant under the Operational Program. By taking a loan of 1 million, 115 thousand BGN Montana municipality will have additional funding. Mayor Zhivkov's proposal is to withdraw a long-term investment loan from the North Urban Development Fund. It finances projects that correspond to the eligible activities under priority axes 1 and 6 of OPRD 2014-2020 and aim to solve the problems of the urban environment and develop the tourist potential of cultural monuments. Loan has a grace period of 2 years and a repayment plan for 20 year. The average interest rate is 1.32 %.