Social Housing Finance Corporation (SHFC) signed a memorandum of understanding (MOU) with the local government of Biñan, Laguna, for the implementation of housing projects under the Community Mortgage Program (CMP) that will benefit about 7,000 families from the city. The memorandum of understanding (MOU) was inked by SHFC President Atty. Arnolfo Ricardo Cabling and Mayor Walfredo Dimaguila, Jr. in a virtual ceremony held on July 29.

The deal mandated the agency to fund the land acquisition, site development, and construction of housing units for 6,839 families from 40 associations in 13 barangays. The beneficiaries include members of Lupang Pangarap Phases 1 to 3, Sikap Ville, Simple Subdivision, Olivares Compound, and Sitio Ramon Homeowners’ Association (HOA). The loans of two projects-Tramo Complex HOA and Samahang Pinagbuklod ESNA HOA-have already been approved by SHFC.

The MOU, signed in the presence of SHFC Operations Senior Vice President Atty. Ronaldo Saco and Laguna Area Operation Manager James Mabulay, was the sixth of its kind that SHFC forged with local government units (LGUs) using video conferencing technology to adapt to the new  normal.

SHFC has so far entered into similar agreements with 92 LGUs to date, including 17 new partners added this year.

In his speech, Cabling explained the critical role of housing in mitigating the impact of COVID19. “The current lockdown is not a hindrance to us to reach out to the people of Biñan, Laguna,” he stressed. “We believe that providing them housing is helping fight the pandemic because it guarantees the space necessary for the social distancing of family and community members.” Cabling noted that SHFC, which is marking the 32 years of the CMP for the entire month of August, has been aggressively partnering with LGUs to help them address their housing needs. He thanked the city government of Biñan for offering SHFC an office space located in the old municipal building to bring the agency’s services closer to its citizens.

For his part, Dimaguila thanked SHFC for recognizing Biñan as one of its CMP partners. He revealed that the local government has already identified five areas that can be used for socialized housing projects. “Rest assured that the city will do its best to fast-track the issuance of permits and clearances, and immediately pass the necessary resolutions and ordinances for all housing projects with SHFC,” he said. “Masayang masaya po ang mga taga-Biñan for this MOU.”

In the light of the pandemic, SHFC continues with the provision of adequate housing, which has become even more crucial now given that viruses spread fast in congested informal settlements. To date, it has provided security of tenure to more than 400,000 families through about P24 billion in loan assistance under the CMP.

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