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HOUSING PROJECT FOR 1,000 FAMILIES
TO RISE IN ISABELA TOWN
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More than 1,000 families from a town in Isabela province are poised to benefit from a housing project jointly implemented by the  
Social Housing Finance Corporation (SHFC) and the municipal government of Jones. The project, which will be funded through the  
former’s flagship initiative, the Community Mortgage Program (CMP), is a product of the memorandum of understanding (MOU)  
signed by SHFC Executive Vice President Atty. Junefe Payot and Mayor Leticia Sebastian in a video conference held on July 9.   

Under the deal, SHFC will finance the lot acquisition, site development, and house construction of the Jones Isabela CMP  
Homeowners Association Inc., which is composed of 1,166 families from Barangays Payac and San Isidro. Most of the  
beneficiaries are market vendors, health personnel, teachers, government employees, and overseas Filipino workers.   

The virtual MOU signing, the third of its kind for SHFC, attested to its dedication to its mandate despite the COVID-19 pandemic.  
Department of Human Settlements and Urban Development Asec. Leira Buan and SHFC North Luzon Regional Operation Vice  
President Jones Tomas  
 
witnessed the activity. The agency recently entered into similar agreements with Daet, Camarines Norte and with Taysan,  
Batangas.  

In his speech, Atty. Payot underscored the vital role of local government units in the provision of adequate housing, particularly  
during this time of virus crisis. “Ito ay isang pangmatagalang solusyon sa mga problemang dulot ng pandemic,” he stressed.  
“Kung sapat ang espasyo ng mga bahay, masisiguro ang social distancing at kung malinis ang lugar, maiiwasan ang pagkalat ng  
mga sakit.”   

For her part, Mayor Sebastian said the project is a realization of her long-time dream of providing decent and affordable housing  
for her constituents. She expressed optimism on the potential of the program. “This will create jobs such as carpenters,  
plumbers, and electricians, and will open business opportunities for small enterprises,” Sebastian said. “Magiging masisipag ang  
lahat ng taga Jones. Sasagana at mabubuhay tayong maligaya.”    

SHFC has so far forged similar agreements with 89 local government units, including 14 new partners added this year. In the light  
of the pandemic, the agency continues with the provision of adequate housing, which has become even more crucial now given  
that viruses spread fast in congested informal settlements. To date, it has provided security of tenure to more than 350,000  
families through over P16 billion in loan assistance under the CMP.