Pagadian City earmarks P40 million for land purchase for SHFC-funded housing program
5,000 families to benefit from socialized housing
Pagadian City Mayor Samuel Co said that the local government has allocated an initial P40 million for the purchase of land where the Social Housing Finance Corporation (SHFC) would build housing units for the city’s homeless.
Mayor Co made the disclosure as he and SHFC president Arnolfo Ricardo Cabling signed a Memorandum of Understanding (MOU) on January 10, 2019 on government funding for Pagadian City’s socialized housing program.
Some 5,000 families in the Zamboanga del Sur city will benefit from the socialized housing under the Community Mortgage Program (CMP) of the SHFC, the lead government agency mandated to undertake socialized housing for low-income earners.
Cabling said the 5,000 beneficiaries should be from organized groups, either from formal or informal settlers. Under the CMP, low-interest, long term housing loans are granted to the beneficiaries through their homeowners’ associations.
The SHFC president, in his speech at the MOU signing, said it would be ““up to the local government to choose which organized groups to prioritize.”
Cabling lauded Mayor Co for collaborating with SHFC on socialized housing for his constituents.
Providing socialized housing is part of the mandate of local government units, said Cabling.
“Comfortable shelter is part of the social services they should provide to constituents,” Cabling adds.
Mayor Co said that on top of the initial P40 million funding for land purchase, he has also ordered an inventory of all city government-owned land properties which could be used for housing projects especially for low-income earners in collaboration with SHFC for funding assistance.
We measure the success of our leadership on how we uplift the living condition of the people of Pagadian City, Mayor Co said in part in his speech at the MOU signing.