The City of Bnei Brak will become one of the first
municipalities in Israel to issue debentures said Deputy
Interior Minister Ruchama Avraham at a working meeting in
Bnei Brak.
MK Avraham said she sees great importance in debenture
projects at local authorities since, on numerous occasions,
recovery programs at various local authorities have not led
to significant changes in their respective treasuries and
certainly not to an ability to work on developing the city
and expanding services for residents. As such, the ministry
views the debenture program as a way to advance the local
authorities by placing their funds in the business sector.
Today banks are willing and eager to work with local
authorities when they enter the debenture program and the
cost of credit for the loans from banks has already decreased
from 7 percent to 4 percent-5 percent. It is anticipated that
raising money through debentures will be substantially
cheaper than taking out bank loans as has been done up until
now by all local authorities.
Gila Oron, the Finance Ministry's commissioner for the Tel
Aviv district, called on the ministry to make funding
available and to provide a fundamental solution to meet the
city's needs by fostering cooperation on every level, such as
the Prime Minister's Office, the Finance Ministry, etc. She
also provided an overview of Interior Ministry activity to
advance the wide-ranging development programs in North Bnei
Brak, which promise to boost the city's economy and end its
constant dependence on aid funding.
Deputy Mayor Rabbi Yaakov Asher called on the Interior
Ministry to help the city advance the City 572 project for
the construction of a large employment complex in the north
of the city and to help advance a solution to the
alternatives the City is offering for a railroad logistical
services site, which is of great importance to efforts to
strengthen the city economically. He called for the
advancement of solutions with the railroad board in
accordance with the proposed alternatives presented to it in
coordination with the Israel Lands Administration and the
Planning Administration.
Avi Levy Glili, Histadrut chairman in the Ramat Gan-Bnei Brak
district, said that due to the city's uniqueness the way to
facilitate its recovery is not through layoffs of municipal
employees but by boosting major employment projects through
"quiet dialogue" between the Histadrut and the Mayor and the
Board of Directors.
City Treasurer Accountant Aharon Adler presented the City's
plans to launch the economic program, stressing the
importance of the debenture program, a realistic recovery
plan and various activities to reduce the debts pressing down
on the City.
Summarizing the discussion, MK Avraham noted that as a result
of the municipality's extensive activities under Mayor Rabbi
Yissochor Frankentahl she would continue to provide various
forms of assistance such as increasing the budget-balancing
grant, assisting with the development of infrastructures if
and when it is included in the government budget, and
government grants when the city agrees to transfer to the
Water Corporation. She also said she would seek a way to
assist in renovating the city's commercial center in the
framework of the budget allocated for 5-10 local authorities
for such purposes, in order to allow small business owners to
compete with large shopping malls.
During the second half of the visit, the Deputy Minister
toured the municipal child and family center on Rechov Ezra,
allowing her a close look at the city's breakthrough in
developing innovative social services in the area of child
and infant care. She was also briefed on activities run by
the Center for Medical Information, the Hot Line, the
training center for women managers and other
organizations.
She also visited the enormous new Ezer Mitzion facility,
touring various departments such as the activity center for
handicapped children, the hydrotherapy pool, the medical
equipment loan department and the huge kitchen used to
prepare food for the needy. Rabbi Chananya Cholek and ranking
staff members described the organization's aims and range of
activities, including a long list of activities for special-
ed children.
At the end of the tour, Deputy Minister Avraham said she was
deeply moved and impressed by what she saw at the center and
promised to provide assistance, saying the center can serve
as an example for chessed organizations around the
country.
The Mayor referred to the Ezer Mitzion facility as a central
lighthouse for the needy, speaking of the dedication shown by
Rabbi Cholek and his assistants, who engage in their holy
work day in and day out, coping with every situation. He
suggested that the government, which recently set up a
committee to address the issue of poverty, send
representatives to study from the center and others like it
and to include on the committee representatives from the
chareidi sector, with its wealth of experience in providing
help to anyone in need.
