The CMP beneficiaries in Barangays 126 and 127 in Bario San Jose, are now recognized as legitimate owners of the lots they are occupying. The property is owned by businessman Gregorio Araneta III.
The city government, under incumbent Mayor Reynaldo Malonzo, aside from providing technical assistance to the beneficiaries, also stands as the originator of the program.
It would intercede in behalf of the beneficiaries in assuring Araneta that his property would be properly compensated.
Under the CMP project, the urban poor beneficiaries will have to pay their acquired lot within 20 to 25 years with an interest rate of only six percent annually, Malonzo said.
During the awarding rites, Araneta advised other informal settlers, particularly in Pangarap Village in Caloocan City North, not to fall victim to false promises by some politicians.
He told the temporary settlers to avail themselves of the CMP which is the most advantageous in terms of land price, being based on zonal valuation and not on the current market value.
Malonzo told the other beneficiaries who failed to make it to the CMP to coordinate with the city’s Urban Poor Affairs Office (UPAO) and that of Araneta’s office for proper assistance.
Malonzo said that Araneta would soon file an eviction case against them since there is already an ongoing settlement between the land owner and majority of the occupants of the Araneta property.