Bacolod City, Negros Occidental— The city government of Bacolod will soon implement its housing project in a 5.4-hectare property located in Barangay Felisa in this city.
This as Mayor Evelio Leonardia, representing the City Government of Bacolod, and Kara Cuarom, representing the Social Housing Finance Corporation (SHFC), signed the Memorandum of Understanding (MOU) pertaining to the housing project, recently.
The signing marks the realization of the project which will soon benefit 320 qualified beneficiaries.
These beneficiaries are employees of Bacolod City who formed their community association and registered it as the “Bacolod City Government Employees Homeowners Association, Inc.” with the Department of Human Settlements and Urban Development – Region 6 Iloilo (DHSUD-6), formerly known as HLURB-Region 6.
The lot acquisition, site development, and house construction of sustainable socialized housing units will be financed by the SHFC in the total full package loan amount of P185,600,000 under the Community Mortgage Program (CMP).
CMP is a people-led housing finance and community development program implemented by the SHFC.
SHFC assists legally organized associations of low-income groups to acquire and develop a tract of land under the concept of community ownership.