{"id":26590,"date":"2016-09-20T09:44:36","date_gmt":"2016-09-20T02:44:36","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-programme-to-help-fund-costs-of-modernising-hdb-lifts\/"},"modified":"2016-09-20T09:55:07","modified_gmt":"2016-09-20T02:55:07","slug":"new-programme-to-help-fund-costs-of-modernising-hdb-lifts","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-programme-to-help-fund-costs-of-modernising-hdb-lifts\/","title":{"rendered":"New programme to help fund costs of modernising HDB lifts"},"content":{"rendered":"


\nThe new Lift Enhancement Programme will support costs of modernisation of HDB lifts. (Photo: mailer_diablo, Wikimedia Commons)
\nThe Housing and Development Board (HDB) has launched a new Lift Enhancement Programme (LEP) to help town councils (TCs) modernise their existing lifts.
\nThe move comes after the Building and Construction Authority (BCA) recommended lift owners to update their older lifts with several features found in newer lift models.
\nTo be rolled out over a 10-year period, the LEP will see the HDB funding around 90 percent of the TCs\u2019 costs to install the recommended enhancement features.
\n\u201cThis is a major programme, which will involve significant government expenditure, estimated at around $450 million,\u201d said National Development Minister Lawrence Wong in a blog post.
\n\u201cBut given the importance of lifts in our daily lives and in our high-rise HDB living environment, the government is prepared to commit to this additional spending and maintain high safety standards.\u201d
\nThe LEP will apply to lifts that are not yet equipped with some or all of the enhancement features, and have been in operation for 18 years or less.
\n\u201cFor the older lifts, it will make more sense for the TCs to replace them with new lifts which will come with these enhanced features,\u201d said Wong.
\nThe HDB noted that around 20,000 lifts requiring varying extents of modernisation are expected to benefit from the new LEP.
\nHowever, TCs are responsible for the eventual replacement of all the lifts under their care, which requires significant long-term expenditure, said Wong.
\nAs such, he advises TCs to \u201cplan ahead and build up their Sinking Fund regularly over time to pay for these major expenses\u201d.
\nTo date, the total Sinking Fund balance across all TCs stands at around $1 billion. While this may sound like a healthy amount, it is not sufficient to cover the cost of future lift replacements which is estimated at almost $3 billion from now to 2035 (for some 11,500 lifts across all HDB estates), revealed Wong.
\n\u201cBesides lifts, there will be other cyclical maintenance and replacement works such as fa\u00e7ade repair of HDB blocks, cyclical repainting, and replacement of water pipes\/tanks. These expenses will also go up as estate infrastructure ages,\u201d he said.
\n\u201cThis is why every quarter, TCs are required to set aside between 30 to 35 percent of their S&CC (Service and Conservancy Charges) collections and government grants into their Sinking Funds.\u201d
\nIn fact, his ministry will also be asking all TCs to prepare and submit their financial projections for their Sinking Funds over the next 10 to 30 years.
\n\u201cThese projections will enable us to assess the appropriate levels of contribution to the TC Sinking Funds and Lift Replacement Funds,\u201d said Wong.
\n\u201cAll TCs must take a long-term view and start planning now for asset and lift replacements in their estates. This is the basis of Singapore\u2019s success. We do not leave things to chance. But we look over the horizon, plan, and prepare for the future. This is the way to ensure a good and safe HDB living environment for all Singaporeans,\u201d he added.
\nMore details on the implementation of the LEP will be provided to TCs in the coming months, said the HDB.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…New programme to help fund costs of modernising HDB lifts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The new Lift Enhancement Programme will support costs of modernisation of HDB lifts. (Photo: mailer_diablo,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-26590","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6US","jetpack-related-posts":[{"id":62553,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lift-upgrading-programme-unfeasible-in-150-blocks\/","url_meta":{"origin":26590,"position":0},"title":"Lift Upgrading Programme unfeasible in 150 blocks","date":"August 2, 2017","format":false,"excerpt":"\r \u00a0 Despite the various innovative solutions, the Lift Upgrading Programme (LUP) could not be implemented to 150 HDB blocks, including six blocks in Hougang, due to costs or technical constraints, revealed the Ministry of National Development in Parliament on Tuesday (1 August). Introduced in 2001, LUP aims to provide\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42723,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/town-councils-to-get-additional-100m-for-lift-maintenance\/","url_meta":{"origin":26590,"position":1},"title":"Town councils to get additional $100m for lift maintenance","date":"February 3, 2017","format":false,"excerpt":"\r Town councils will receive over $100 million in additional funding to maintain or replace lifts. (Photo: HDB) The Ministry of National Development (MND) announced on Thursday (2 February) that it will provide more grants to town councils to support their elevator upkeep, or to replace one if necessary. \u201c(The)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93677,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/150-hdb-blocks-dont-have-direct-access-to-lifts\/","url_meta":{"origin":26590,"position":2},"title":"150 HDB blocks don\u2019t have direct access to lifts","date":"July 12, 2018","format":false,"excerpt":"\r About 150 existing HDB blocks currently don\u2019t have direct access to lifts despite the implementation of the Lift Upgrading Programme (LUP) in 2001, said the Ministry of National Development (MND) in a parliamentary reply on Tuesday (11 July). \u201cAt the start of the programme, there were more than 5,300\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112032,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-install-6000-digital-display-panels-in-housing-estates\/","url_meta":{"origin":26590,"position":3},"title":"HDB to install 6,000 digital display panels in housing estates","date":"October 31, 2019","format":false,"excerpt":"\r Residents will be able to keep up with local estate news, nationwide updates on public health advisories and emergencies, and more. Image source As part of Singapore\u2019s Smart Nation drive, the Housing and Development Board (HDB) will pilot the roll-out of Digital Display Panels (DDPs) in housing estates from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95787,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lifts-at-3-hdb-estates-to-be-replaced-at-no-cost-to-residents\/","url_meta":{"origin":26590,"position":4},"title":"Lifts at 3 HDB estates to be replaced at no cost to residents","date":"August 10, 2018","format":false,"excerpt":"\r Over 12,000 households in Sembawang, Woodlands and Admiralty will benefit from the new lifts. (Photo: HDB) A total of 12,600 households are expected to benefit from the early replacement of 280 lifts at Sembawang, Woodlands and Admiralty, reported Channel NewsAsia. To be made under the Sembawang Town Council\u2019s Lift\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-embarks-on-s5-3m-study-to-enhance-estate-services-via-smart-tech\/","url_meta":{"origin":26590,"position":5},"title":"HDB embarks on S$5.3m study to enhance estate services via smart tech","date":"June 30, 2017","format":false,"excerpt":"\r \u00a0 Singapore\u2019s Housing & Development Board (HDB) has teamed up with A*STAR\u2019s Institute for Infocomm Research (I2R) and Imperial College London (ICL) to study how smart sensors and analytics can further improve services within housing estates. In line with this, HDB signed a memorandum of understanding with the two\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26590"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=26590"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26590\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=26590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=26590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=26590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}