To resolve the housing backlogs in the country, Vice President Jejomar C. BInay told Davao City media Thursday that the Housing and Urban Development Coordinating Council (HUDCC) aims to provide 3.7 million houses in 10 years time.
To accomplish this, Binay, also the HUDCC chair, has reached out yo consolidate the local government units (LGU) for carrying out their duty to bring quality homes to their constituents as mandated under Republic Act No. 7279 or the Urban Development and Housing Act of 1992.
“Being closer to the people, the LGUs should be at the forefront in delivering housing services,” Binay said.
Binay has initiated a series of housing caravans with the theme “Strengthening Local Government Units in Housing Delivery and the Local Development Planning,” which is in line with his thrust to build a stronger partnership with LGUs.
Last May 19-20, the Vice President led the Regions 11 and 12 Pabahay Caravan at The Marco Polo Davao as a follow up to the three caravans this year held in the cities of Baguio, Cebu and Tagaytay respectively. It was attended by the governors of: Davao del Norte (Rodolfo del Rosario); Davao Oriental (Corazon N. Malanyaon); Compostela Valley (Arthur Uy); Sarangani Province (Miguel Rene Dominguez), and city/municipal mayors of the two regions.
During the caravan, heads of the National Housing Authority (NHA), the Social Housing Finance Corporation (SHFC), the National Home Mortgage Finance Corporation, the Housing and Land Use Regulatory Board (HLURB), and the HDMF presented their agency’s respective housing programs and services.
Allocating a P50 billion housing fund for its members, Binay said, the Pag-IBIG Fund grants institutional loans to developers or project proponents for the development and construction of housing projects. The financing programs aim to ensure that affordable and decent housing units are made available to its members nationwide.
A total of P85.4 billion was disbursed by Pag-IBIG in benefits and loans last year. Of the loan releases, 44.7% or P35.9 billion were for short-term loan disbursements in the form of multi-purpose and calamity loans.
Pag-IBIG released about P167 million daily to 254 families whose applications for housing loans had been approved. Posting positive growth last year, Pag-IBIG has 8.8 million members worldwide, and collected P93 billion from loan amortization and membership contributions.
Highlighting the caravan, Binay distributed 193 Transfer Certificate of Titles (TCT) to CMP beneficiaries of eight Homeowners Associations (HOA) in regions 11 and 12, namely: Ruiz Village HOA, Fatima Settlers Association, Km. 3 Residents, AWHAG, Greenland HOA, Cory Aquamarine United Settlers, and Suraya HOA Phases 1 and 2.
Representing as payment to the first-ever project under the LCMP, initiated by the LGU of the Island Garden City of Samal, Binay awarded a check to the landowners. This project will benefit 105 family-beneficiaries of the Sunrise HOA, Inc.
The Vice President also led the turnover of checks for institutional loans to FC Lapiz Real Estate Lessor for Knew Way Homes; Agan Land Corporation for Agan Grandville Subdivision; Gensan VSM Realty Corporation for VSM – Heights, Phase 1; and Venus Association Midsayap Chapter, Inc. for Venus Urbanvile Subdivision, Phase 1.
SHFC, the lead government agency mandated to undertake financing of social housing programs, will cater to the formal and informal sectors in the low-income bracket taking charge of developing and administering social housing program schemes, particularly the CMP and the LCMP.
CMP is a government financing facility that provides a collective loan to duly-registered community associations (CA) in order to finance the acquisition of the land that they presently occupy, or to where they will be relocated. Members of CAs may borrow up to P80,000 each, payable for a maximum of 25 years at an annual interest rate of six percent (6%).
Meanwhile, LCMP is a modified CMP wherein a qualified LGU is accredited by SHFC as a partner, providing them with an Omnibus Commitment Line (OCL) not exceeding P50 million to accommodate priority social housing projects that they have already identified.
