Davao Oriental’s housing program will benefit more than 700 homeless residents with the signing of a lease agreement between the residents, the Social Housing Finance Corporation (SHFC) and the owner of a 15.6-hectare property. .
HOUSING PROJECT. Chermaine Morante, mortgage examiner of Socialized Housing Finance Corporation (SHFC) explains to the beneficiaries the terms and conditions contained in the lease agreement the parties signed on Thursday (Oct. 17, 2019). At least 746 beneficiaries, belonging to the Mandaya Muslim Bisaya Homeowners Association, signed the document at the Capitol covered court. (Photo courtesy of Davao Oriental PIO)
Provincial Information Officer Karen Lou Deloso said the 746 beneficiaries signed on October 17, the lease agreement with the SHFC funding the land acquisition under its Community Mortgage Program (CMP) .
SHFC, the agency tasked with implementing the government’s socialized housing program for the homeless, is headed by president Arnolfo Ricardo Cabling, a lawyer and former member of the Davao City Council.
The lease agreement between SHFC and members of the Mandaya Muslim Bisaya Homeowners Association covers the 15.6-hectare land in Sitio Magay, Barangay Don Martin Marundan, Mati City, where the housing project will rise.
“Prior to the signing, officers from the SHFC explained to the beneficiaries the contents of the agreement,” Deloso said.
Under the agreement, each beneficiary shall pay the monthly rental of PHP369.42 per month, payable for 25 years.
Flordeliza Tabanao, Provincial Housing Coordinator, said that following the signing of the agreement, the SHFC will pay the landowner so that the site development and project construction can begin.
Tabanao said that the provincial government hopes to start the construction next year after meeting all requirements.
Mati City Mayor Michelle Rabat said the project is “a welcome development to address the housing backlog in the city.” (PNA)
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