CEBU, Philippines - The Cebu Provincial Government is expected to earn an income of P1.5 billion should Gov. Hilario Davide III pursue the scheme for the disposal of the 93-1 lots in Cebu City.
During the time of then governor and now third district Rep. Gwendolyn Garcia, 19 homeowners associations from different barangays in Cebu City signed a memorandum of agreement for the sale of a lot with a total area of 155,979.41 square meters.
The scheme was for Pag-ibig to help the beneficiaries pay the obligation to the Province so that the Capitol would no longer be the collecting agency.
Upon completion of all the documents with the Pag-ibig as well as the Community Home Mortgage Program, the province stands to collect P524.7 million.
“This has been completed and documentation is just awaiting completion for the Pag-ibig to pay the Province of Cebu,†Garcia said.
Garcia turned over to Davide the negotiation with the 13 more homeowners associations occupying province-owned lots with a total area of 189,319.75 square meters.
Garcia said that the remaining homeowners associations have already earlier agreed on the per square meter price for the lot that they occupied.
“Should these 13 memoranda of agreements be signed, the province will stand to collect from Pag-ibig, as well as the community home mortgage, a total of P976, 447, 573.18 for a total of 1.5 billion on the 93-1 issue,†Garcia said.
Garcia stressed that this would not burden the actual occupants because Pag-ibig “has extended on a very liberal terms†for this mortgage program in order for them to buy off the property and even pay for the putting up or improvement of their own houses.
She said that for some of them will be paying only on a monthly basis anywhere from P500 to P1,000.
Garcia added that it is drastically lower than what an ordinary bed spacer would be paying in the City of, Cebu which now ranges from P2,500 to P3,000 or even P4,000.
Cebu City Mayor Michael Rama earlier assured that he will try his best to help the urban poor families who are complaining because while Capitol officials finally allowed the occupants of the province-owned lots to purchase their respective lots, the cost is too high amounting up to P15,000 for every square meter.
The province-owned lots that are occupied by the urban poor families are situated in Barangays Kalunasan, Kamputhaw, Busay, Lahug, Capitol Site, Barrio Luz, Mabolo, Apas, Kasambagan, Tejero and Lorega. —(FREEMAN)