MANILA (Mabuhay) -– Approximately 8,000 new homes will be given to informal settler families (ISFs) living in danger zones this year, Vice President Jejomar Binay announced Friday.
Binay, the Chairman of Housing and Urban Development Coordinating Council (HUDCC), said it is through the high density housing (HDH) program, an in-city or near site relocation or a land sharing arrangement that seeks to provide multi-storey buildings for ISFs.
Binay made the announcement during the ocular inspection of the Doña Imelda HDH project in Quezon City.
The housing czar said the program was an initiative led by the Social Housing Finance Corporation (SHFC) with the support of the World Bank.
He also noted that the program adopts a community-driven approach, which guarantees that ISFs are involved in the planning and implementation of their housing and shelter facilities.
“This approach provides security of housing tenure to the informal settler families and at the same time, ensure that their livelihood will not be affected once they transfer to their new, decent and safe homes,” Binay said.
The housing units will be constructed “in-city”, “near-city” or “near-site”, Binay added.
Moreover, Binay said under the HDH, the SHFC will provide loan assistance to organized communities of ISFs living in danger areas in Metro Manila to finance land acquisition and construction of homes.
“The Corporation offers up to P400,000 loan with an interest of 4.5 percent per annum for a maximum of 30 years. Borrowers may also apply for a graduated amortization scheme,” he said.
Further, Binay assured that the adopted scheme allows beneficiaries to pay lower monthly amortizations.
“Pinag-aralan po ang kakayahan ng mga benepisyaryo na magbayad sa buwanang amortisasyon, para ang payment terms na ipatutupad ay makayanan ninyo” (The ability of the beneficiaries to pay a monthly amortization is still being studied), he explained.
However, he also stressed that the ISFs need to pay their monthly dues so the government may be able to utilize the money to build more houses.(MNS)