A socialized housing project will soon be implemented in a 5.4-hectare property in Barangay Felisa, Bacolod City that will benefit more than 300 city employees.
Mayor Evelio Leonardia, representing the City Government of Bacolod, and Kara Cuarom of the Social Housing Finance Corporation, signed the memorandum of understanding on the housing project recently at the Bacolod City Government Center, and witnessed by Bacolod Housing Authority head Victoria Parreñas, lawyer Mikhail Reuben Sabig of the City Legal Office, and OIC-City Accountant Joery Jay Castellano.
The signing marked the realization of the project that will soon benefit 320 qualified beneficiaries, who 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, a press release from the city said.
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 is a people-led housing finance and community development program implemented by the SHFC, that assists legally-organized associations of low-income groups to acquire and develop a tract of land under the concept of community ownership.
The CMP 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.*