Cities And Towns
Davao City gov't earns P13-M from housing program
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Jan 9, 2009 - 6:18:06 AM

DAVAO CITY, Jan. 11 (PNA) -- The Davao City government has earned P13 million worth of housing fund from the 20 percent Balance Housing component of the Urban Development Housing Act (UDHA) for use in its socialized housing program.

City Councilor Arnolfo Ricardo Cabling disclosed during Tuesday's first regular session of the City Council for 2009 that the fund represents compliance with the UDHA of 12 ongoing high-end housing projects covering a total of 170 hectares.

He said the fund could translate to 34 hectares if the high-end subdivisions decide to comply with the 20 percent Balance Housing with raw lands.

Cabling, who is the chair of the council's committee on housing, said the Local Housing Board had pegged the P13 million socialized housing fund based on the P5,000 per hectare valuation under the UDHA Balanced Housing component.

He said the P13 million fund would come on top of the P100 million Urban Land Reform Program fund for low-cost housing to be taken from the P3 billion loan the city government would get from the Land Bank of the Philippines (LBP).

Meanwhile, the Local Housing Board is now considering the purchase of 27 hectares costing P69 million offered for sale by nine landowners as relocation site for the city’s homeless population.

Cabling said that with the high-end housing boom in the city, more socialized housing fund from the 20 percent Balance Housing component of UDHA would be raised, allowing the local government to address acute housing needs of the poor.