After RENFE was declared a construction company in 1944, it was eligible for the benefits derived from the 1939 law for the public financing of the construction of housing for its employees. RENFE approved a plan for 4,000 units. The overall estimated price of this construction was 112 million. Under the 1939 law, the INP could grant a loan of PTA 56 million (50%) of the total. The Board of Directors (BO) of RENFE approved this agreement at the meeting of 30 October 1945.
The process was set in motion with some urgency, given the demands that were arriving for the construction of housing for employees from different cities and neighbourhoods with a strong railway tradition, where the railway workers were in a rather precarious situation or had to live far from the work sites. Thus, the company’s annual report for 1945 states that, in order to facilitate the procedures, RENFE would advance the amounts financed by both the “National welfare institute” (INP) and the “National Housing institute” (INV), which would cover up to 90% of the construction costs. These amounts would be recovered later as the building certificates were presented to the INV. Sigue leyendo