The affordable rent social program, approved last year by the Funchal City Council, has €500,000 allocated in this year's budget, increasing to €1.5 million next year. This funding is contingent on a budget amendment approved at Thursday's council meeting.
The initiative aims to assist "several hundred residents" by renting properties on the private market and then subletting them to families struggling with current housing costs. The council plans to benefit "a few hundred citizens" without specifying the exact number of homes involved.
Council President Jorge Carvalho explained that delays were due to waiting for national legislation on the matter, which was recently published. He defended the reallocation of funds from other social areas as sound financial management, allowing for timely adjustments based on budget execution.
