Detailed project reports for the initial 20 savvy urban areas have been affirmed. We are going to begin the development on these urban areas on June 25, said Urban Development Minister Venkaiah Naidu.
Accordingly the State Urban development ministry has asked Belagavi Smart City Limited to commence work from June 25.
As of now the SPV has been established but the 4 nominee directors from the city have not yet been approved by the Council, which will have to be done in the coming week after the model code of conduct gets over.
A special cell for the SPV has been temporarily established at the Corporation office which will eventually be shifted to Govaves Shopping complex.
Mr. Naidu also gave clear-cut message regarding the funds allotted for smart cities to the 20 selected cities, saying the money can’t be used otherwise but for smart cities, directing them to work on the smart city projects by June 25. He said execution of smart city projects will be under constant monitoring of government and nothing will go unnoticed regarding monetary uses for the same.
The central government will give on an average Rs 100 crore per city per year, as financial support. Innovative financing options like tax incremental financing, municipal bonds and leveraging of loans from bilateral and multilateral agencies like ADB and World Bank is also envisaged.
Works that might commence – Gas pipeline, solar Lighting, Public toilets