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Bacolod City, Philippines Monday, June 10, 2013
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Councilor proposing
lot loan mechanism


A resolution adopting the guidelines, mechanism and procedures in the release of financial loan assistance to qualified community associations for purposes of lot acquisition, is being proposed by Councilor Dindo Ramos.

Ramos, is the chairman of the Sangguniang Panlungsod Committee on Urban Poor, Housing and resettlement.

The resolution said the Bacolod City government has appropriated, through City Ordinance No. 2 series of 2010, P150 million for acquisition of relocation sites and loan assistance for informal settlers, that was then part of the loan proceeds from the Philippine Veterans Bank.

Part of the amount has already been disbursed in payment for parcels of land collectively and commonly known as the Arao property, and later as part of Sitio Progreso, leaving a balance of P17,758,982.91 for loan assistance to informal settlers, it said.

The resolution said the Bacolod Housing Authority already has the list of beneficiaries who may be qualified to receive financial loan assistance from the city government so it has prepared the Implementing Rules and Regulations and endorsed this to the City Mayor for the adoption of the City Council.

Since there is no enabling ordinance empowering the BHA or city government to issue IRR in the identification and release of financial loan assistance to qualified community associations, the City Council adopted the necessary guidelines, mechanism and procedures for the purpose.*CGS

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