Prague 10 to borrow CZK 500 million for reconstruction of headquarters

The City of Prague has agreed to lend the district of Prague 10 CZK 500,000 to pay for the reconstruction of its district headquarters. That's just over half of what it's expected to cost to fix the building, which is in a rather serious state of disrepair. Prague 10 mayor Renata Chmelova says she's also managed to negotiate a CZK 200 million subsidy from the Ministry of Environment to help pay for energy saving measures that are part of the project. The loan from the City of Prague will be taken out in two tranches during 2022 and 2023, with reconstruction work expected to be completed by 2024. Prague 10 will spend the next 25 years paying back the loan, but it will still have to come up with CZK 100 millioni of its own funds to put into the project. Very little has been invested in the building since it was constructed in the 1970's.