A Davao City councilor has asked Vice President Jejomar Binay to reinforce the city government’s linkage with the Socialized Housing Finance Corporation (SHFC) even as the government housing financing agency is already an active partner of the city in low cost housing program.
Councilor Arnolfo Cabling, chair of the Davao City Council committee on housing, made the request as Binay, chair of the Housing and Urban Development Coordinating Council, spoke on housing concerns at the national convention here of the Organization of Socialized Housing Developers of the Philippines.
“The city government has already ventured into an agreement with the SHFC. We want to further widen the coverage of the community mortgage program in order to cater more beneficiaries,” Cabling told Binay.
Under a Memorandum of Agreement, the local government is now pursuing massive purchase of resettlement sites through the Localized Community Mortgage Plan (LCMP) of the state-owned SHFC which would chip in about 75% of purchase price, with the local government sharing 25 percent.
Cabling, author of the landmark City Shelter Code, early this year initiated the agreement with SHFC which initially opened a P100 million fund for the local government to use in its low-cost housing program.
The fund adds up to the P100 million housing fund provided chipped off the P3 billion development loan from the Land Bank of the Philippines, according to Cabling.
Among resettlement areas the local government is buying are the 6-hectare South and North San Juan property of Mr. Chua involving around 1,000 families, the Sapaha property of six hectares in Panacan and the banks-owned Kobbler area of about 30 hectares, site of the defunct Oriental Ventures export zone project, which around 3,000 families of about 9,000 members.
In response to Cabling, Binay said strengthening the partnership between the city government and SHFC would be one of his concerns.