The Social Housing Finance Corp., (SHFC) has released P35.77 million for the acquisition of a 25,275-square meter property in Naic, Cavite as relocation site for some 800 families living along the waterways of Parañaque City and Las Piñas City.
The SHFC is an attached agency of the Department of Human Settlements and Urban Development.
Junefe Payot, SHFC executive vice president, and Bob Flores, Settlements Management Group vice president, turned over the check to the landowner, Edgardo Sumilong, in a ceremony held in Barangay Molino last March 22.
Payot identified the beneficiaries of the project as members of the Parlas Homeowners’ Association, Inc., organized in 2017 and led by its president, Paterno Casas.
The SHFC approved the loan application of the association in December 2019 under the community mortgage program, the agency’s flagship initiative that assists legally organized associations of informal settler families (ISFs) to purchase and develop a tract of land under the concept of community ownership.
Casas thanked the concerned local government for accepting them and approving their relocation to the municipality.
Through the CMP, the SHFC was able to provide secured homes to over 8,000 ISFs through about P1.6 billion in loan assistance in 2021. More than 350,000 ISFs have benefited from the program since 1988, he said.