Bacolod Mayor Alfredo Benitez, DHSUD Secretary Jose Rizalino Acuzar and Pag-IBIG Chief Executive Officer Marilene C. Acosta (l-r) sign the MOU.*
Mayor Alfredo Abelardo Benitez said on Tuesday, November 29, that discussions are underway on how to make the monthly amortization for the 10,000 housing units to be built in Bacolod City affordable to Informal Settler Families.
Benitez recently signed a Memorandum of Agreement (MOA) between Bacolod City, the Department of Human Settlements and Urban Development and Pag-IBIG for the P10 billion housing program for Bacolod.
The MOA spells out the details on how to proceed with the housing project involving 10,000 units committed by PagIBIG, which were not contained in the earlier Memorandum of Understanding, Benitez said.
The standard PagIBIG schedule of amortization covers a 30-year period, he said.
We are taking about the monthly amortization to ensure that it is affordable, it will be about P2,000 per month or more depending on the size of the housing unit, Benitez said.*