P1.2B released for housing projects in Metro Manila

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Sunday, May 25, 2014


THE Aquino administration has released P1.2 billion to the Social Housing Finance Corporation (SHFC) to roll out housing projects for Informal Settler Families (ISFs) currently residing in danger areas in Metro Manila, the Department of Budget and Management (DBM) said Sunday.

“We are continuing the relocation of informal settler families, especially those living near the waterways of Metro Manila. With the fund release, the SHFC can build more resilient homes in safer zones -- such as in-city and off-city relocation sites -- and ensure the well-being of these families, especially during calamities. This is, of course, in line with our efforts to provide quality and affordable homes to those who need them the most,” Budget Secretary Florencio Abad said.

He said the housing project will be adopting the Community Mortgage Program (CMP) approach, through which an organized community will initiate and manage the housing project itself. The organizing community will likewise be in charge of securing funding support from the SHFC.

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"As an added feature to this housing project, the administration is empowering communities to participate and be more involved in implementing the program. We are opening up opportunities for them to take the lead in the whole project: from land acquisition to site development, to the actual building construction," he added.

Among the organized communities that will implement the housing projects are the Goldmine Interior Homeowners Association Inc. (GIHAI), the Alyansa ng Mamamayan sa Valenzuela at Caloocan Housing Cooperative (AMVACA), and the Dario River Alliance Housing Cooperative (DRAHC).

Of the total P1.2-billion release, GIHAI, AMVACA, and DRAHC were allotted P46 million, P636.5 million, and P514.5 million, respectively. (SDR/Sunnex)

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