A P185 million socialized housing project will soon be implemented in a 5.4-hectare property located in Barangay Felisa, Bacolod City.
Mayor Evelio Leonardia, representing the Bacolod City government, and Kara Cuarom, representing the Social Housing Finance Corp. (SHFC), signed the Memorandum of Understanding (MOU) for the housing project on June 29, a press release from the Bacolod Public Information Office said Wednesday, July 7.
Joining the ceremonial signing, held at the Bacolod City Government Center, were Bacolod Housing Authority (BHA) head Victoria Parreñas, Mikhail Reuben Sabig of the City Legal Office, and OIC-City Accountant Joery Jay Castellano.
The signing marks the realization of the project which will soon benefit 320 qualified beneficiaries, the press release said.
These beneficiaries are employees of Bacolod City who formed their community association and registered it as the “Bacolod City Government Employees Homeowners Association Inc.” with the Department of Human Settlements and Urban Development – Region 6 Iloilo (DHSUD-6), formerly known as HLURB-Region 6.
The lot acquisition, site development, and house construction of sustainable socialized housing units will be financed by the SHFC in the total full package loan amount of P185,600,000 under the Community Mortgage Program (CMP), the press release said.
CMP is a people-led housing finance and community development program implemented by the SHFC, it said.
SHFC assists legally organized associations of low-income groups to acquire and develop a tract of land under the concept of community ownership.
CMP’s primary objective is to assist residents of depressed areas to own lots they occupy or where they plan to relocate to, the press release added.*