LAND DEVELOPERS TO HELP BUILD RESILIENT COMMUNITIES THROUGH CMP
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Land developers can now participate in building disaster-resilient communities through Social Housing Finance Corporationís (SHFC) Community Mortgage Program (CMP) based on the recently approved Board resolution of Housing and Land Use Regulatory Board (HLURB).
HLURB Board Resolution No. 932 expanded land developersí participation to socialized housing from providing parcels of land to undertaking site development and house construction and/or repair projects for informal settler communities, which are under CMP.
Other modes of participation such as provision or development of access roads, amenities and facilities, or other forms of development in an existing CMP, and subscription or purchase of asset-backed securities as conveyed by SHFC, were retained in the board resolution. Existing provisions under RA 7279 or Urban Development and Housing Act of 1992 compels land developers to contribute in socialized housing projects.
The implementing rules and regulations of the said board resolution are yet to be released by HLURB.
SHFC, through Phases 2 and 3 of its CMP, advocates community resilience through affordable housing finance for community upgrading, site improvement, and house repair as climate change adaptation measures. Site development loan that costs P30,000 per qualified member-beneficiary can be used for improvement or establishment of roads, construction of drainage and sewerage system, installation of water system and electrical connections, and road reblocking. Maximum loanable amount for house construction and repair is at P120,000.
Aside from physical upgrading, SHFC also promotes community empowerment and resilience through various disaster and risk reduction management programs and activities.
SHFC has also worked with various land developers through its High Density Housing Program, which promotes in-city or near-city relocation to ISFs living along the major waterways and danger zones in Metro Manila.
DEVELOPERíS ROLE. Land developerís participation to socialized housing helps uplift the living conditions of informal settler families and promotes community resilience. (File photo of SHFC partner-developer)