CEBU, Philippines - The Talisay City council has authorized Mayor Johnny De los Reyes to enter into a contract for the sale and transfer of city-owned parcels of land to two homeowners associations.
City Councilor Dennis B. Basillote, who is the chairman of the committee on urban poor and development, said the city owned the parcels of land at sitio Mahayag, barangay San Isidro and in sitio Candaya, barangay Mohon are being developed as urban poor housing relocation sites.
“The beneficiaries of the urban poor housing relocation sites have organized themselves into a non-stock, non-profit association under the name Sitio Mahayag Home Owner’s Association (SMHOA),†Basillote said.
The SMHOA has applied for a loan under the Community Mortgage Program (CMP) with the Social Housing Finance Corporation (SHFC) with the Pagtambayayong Foundation Inc. as originator.
One of the requirements for the release of the Letter of Guarantee (LOG) from the SHFC in connection with the loan is to transfer the title of the parcels of land used as urban poor housing relocation sites from the City of Talisay to SMHOA. (FREEMAN)