P188-M fund to cover ongoing housing program for informal settler families
The Department of Budget and Management
(DBM) has approved the release of P188 million to the Social Housing
Finance Corporation (SHFC) to create housing for informal settler
families (ISFs) living in danger areas in Metro Manila, chargeable
against the FY 2014 General Appropriations Act (GAA).
Budget Secretary Florencio “Butch” Abad
said, “We’re continually developing safe communities for informal
settlers via government housing programs because they serve a dual
purpose. First of all, we ensure the fruits of our economic development
will be felt by our less fortunate countrymen by giving them a chance to
own their homes. Second, we also protect the poor, the vulnerable, and
the marginalized from future disasters caused by climate change.”
One of the projects that will receive funding under the SHFC is the Responsableng Samahang Pampamayanan (RSP)
Village Phase I Homeowners Association, Inc. (HOAI). Under this
project, the National Government shall acquire land for the housing of
1,504 ISFs living along Dahlia Creek, Darlo River, San Juan River,
Tullahan River, Diliman Creek, and the Payatas Dumpsite.
| Particulars |
Amount |
| Land acquisition |
P124,590,895 |
| Administrative cost |
P3,008,000 |
| Total |
P127,598,895 |
On the other hand, two
projects—Bistekville II HOAI Block 6 and Block 16—shall be financed by
SHFC through loan refinancing. The Quezon City local government, which
owns the land, will develop and build the houses that will benefit 132
ISFs living along Tullahan River and San Juan River.
| Particulars |
Amount (PHP) |
| Bistekville II HOAI Block 6 |
Bistekville II HOAI Block 16 |
Total |
| Loan Refinancing |
P31,450,200 |
P28,715,400 |
P60,165,600 |
| Administrative Cost |
P138,000 |
P126,000 |
P264,000 |
| Total |
P31,588,200 |
P28,841,400 |
P60,429,600 |
The three abovementioned projects have a total cost of P188,028,495 with the following breakdown:
| Housing Projects |
Component |
Amount (PHP) |
| RSP Village Phase I HOAI |
Phase 1 |
P127,595,895 |
| Bistekville Block 6 HOAI |
Refinancing |
P31,588,200 |
| Bistekville II Block 16 HOAI |
Refinancing |
P28,841,400 |
| Total |
|
P188,028,495 |
The projects shall adopt the Community
Mortgage Program (CMP) approach, wherein an organized community starts
and manages the housing project even as they secure funding support from
the SHFC.
Abad said, “These projects are part of the National Government’s pledge on the Daang Matuwid and
our commitment to leave no one behind in our journey towards economic
growth. By spending on the right priorities, we not only sustain equal
opportunities for all Filipinos but also improve their quality of life.
This is what inclusive development ultimately means.”
For 2014, the SHFC received a total
subsidy of P3.67 billion—which includes the recent release—for the
implementation of the housing program. Of the said amount, DBM has
already allotted P3.62 billion to the SHFC. For 2015, the SHFC housing
program will receive P3.74 billion.
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