Pagibig to grant LGUs housing project loan-A A +A
Saturday, June 16, 2012
AN OFFICIAL of the Home Development Mutual Fund (HDMF) said it will grant loans up to P20 million to local government units (LGUs) for housing projects.
In Friday's press conference at the Royal Mandaya Hotel, Noli Armada, PagIBIG Kidapawan branch manager, said most of the LGUs are interested, but it needs an approved comprehensive land use plan (CLUP) to be able to avail of the loan program.
"(CLUP is needed) to make the zoning converted from agricultural to residential," he said, adding that the process of securing CLUP takes eight months.
He said the Kidapawan branch has already covered almost 80 percent of the total LGUs, including provinces of Maguindanao, North Cotabato, and Sultan Kudarat.
The CLUP is the requirement when engaging into a mass housing development, according to Armada.
He said the CLUP must be updated every 10 years, considering the growing population in every municipality.
"We will not exempt the land situated in the agricultural, it must be in the residential area," he said. "That's why, if you are applying for a housing loan, you are required to secure a zoning certificate."
For the housing loan, the LGU will avail of the loan from PagIBIG, then the LGU will build the housing projects to be sold to PagIBIG members.
The proceeds will then be used to pay for the loan up to three years.
Members of PagIBIG, he said, can borrow money to avail of the LGUs housing projects. For members, individual loan granted for housing is payable up to 30 years.
Meanwhile, Vice President Jejomar Binay, chairman of PagIBIG Board of Trustees, said there are a total of 31,400 housing units this year for policemen, soldiers and jail guards in the country, as part of its socialized housing program. This will be given in a form of a housing loan.
Binay added that 31,400 units were granted to policemen, soldiers and jailguards last year.
To provide more socialized housing projects, he said he has talked with the business sectors who are willing to pour out investment.
He said they are targeting to produce 3.6 million housing units, each cost P300,000 to P400,000.
Published in the Sun.Star Davao newspaper on June 16, 2012.