ARoof Agreementis an agreement to rapidly increase the supply of apartments between the State of Israel, the Israel Land Administration (ILA) the Ministry of Finance, the Ministry of Housing and Construction and the local authorities. The agreement enables the establishment of new neighborhoods with thousands of housing units within the local authorities with whom the agreement has been signed.
In the framework of this agreement, the State undertakes to provide the local authority with preliminary financing for establishing public buildings, institutes of education and infrastructure, and this is prior to marketing the project. The local authority undertakes to grant the entrepreneurs a building permit within 90 days. Within the framework of this agreement a clear schedule is defined to enable advancement of the project.
The guiding principle of theRoof Agreementis the preliminary financing raised by the government for development of infrastructures, public buildings, educational institutes, transportation intersections, parks and commercial and employment areas.Roof Agreementsensure entrepreneurs receive the required permits within 90 days which substantially shortens the construction and development periods of new neighborhoods. Furthermore,Roof Agreementsdefine clear schedules for the execution and advancement of each stage of a project.
Upon signing aRoof Agreement, the authority receives means and backing from the government for developing and building thousands of housing units. TheRoof Agreementmodel is intended to provide a relatively rapid response to an increasing need among young couples for housing in the central region of the country. These agreements recruit the relevant government bodies in advance for available, focused and effective marketing in the sought-after areas, and this is done in collaboration with the local authority with whom the agreement has been signed.