^

Cebu News

In Basak-Pardo: City buying lot for fire victims

The Freeman

CEBU, Philippines - There is good news for Basak-Pardo, Cebu City residents affected by the fire that hit three sitios there in March 17, 2015; the City Council agreed to purchase a privately-owned lot to be used as socialized housing for the affected families.

However, the lot will only be for an estimated 100 families.

They are the identified beneficiaries out of 304 families who were left homeless in the fire.

The one-page resolution authorizing the purchase was drafted by City Councilor Nendell Hanz Abella, also the chairman of the executive department’s Local Housing Board. The proposal on purchasing the lot was recommended by the board.

The resolution authorized acting mayor Edgardo Labella to sign the Contract to Sell (and Deed of Absolute Sale) of Lot. No. 5668-D, owned by Japer Development Corp., with an area of 12,500 square meters. Correspondingly, the lump sum payment of over P15 million was also approved for lot acquisition.

Records from the Cebu City Treasurer’s Office certified that there is an available fund of P15,625,000 to cover the down payment of the total cost in buying the property.

Once purchased, the property will then be converted into a housing site through the Socialized Housing Program of the city’s Division for the Welfare of the Urban Poor.

The program’s qualified beneficiaries will have to recover or repay the total amount disbursed from the city through monthly installment or amortization.

At present, the subject property, which is adjacent to the south campus of the University of San Jose-Recoletos, is being occupied by over 202 families registered under the Bamboo Upper Laguna Homeowners Association.

Back in 2012, negotiations between the city government and the private corporation already ensued.

Japer Development Corp., through its Community Mortgage Program, reportedly offered to sell eleven lots including the fire-stricken property at P2,500 per square meter, although the prevailing value of the lot is P5,000 per square meter, based on the market value as of 2003; or P7,000 per square meter, as to BIR zonal valuation.

However, as agreed, the selling price was summed up to P31,250,000. The remaining balance of P15,625,000 will be paid within six months after the signing of contract.

The identified beneficiaries have already been allowed to return and build their own houses in the fire-hit area. — May B. Miasco/BRP (FREEMAN)

In Basak-Pardo: City buying lot for fire victims

 

 

 

CEBU, Philippines - There is good news for Basak-Pardo, Cebu City residents affected by the fire that hit three sitios there in March 17, 2015; the City Council agreed to purchase a privately-owned lot to be used as socialized housing for the affected families.

However, the lot will only be for an estimated 100 families.

They are the identified beneficiaries out of 304 families who were left homeless in the fire.

The one-page resolution authorizing the purchase was drafted by City Councilor Nendell Hanz Abella, also the chairman of the executive department’s Local Housing Board. The proposal on purchasing the lot was recommended by the board.

The resolution authorized acting mayor Edgardo Labella to sign the Contract to Sell (and Deed of Absolute Sale) of Lot. No. 5668-D, owned by Japer Development Corp., with an area of 12,500 square meters. Correspondingly, the lump sum payment of over P15 million was also approved for lot acquisition.

Records from the Cebu City Treasurer’s Office certified that there is an available fund of P15,625,000 to cover the down payment of the total cost in buying the property.

Once purchased, the property will then be converted into a housing site through the Socialized Housing Program of the city’s Division for the Welfare of the Urban Poor.

The program’s qualified beneficiaries will have to recover or repay the total amount disbursed from the city through monthly installment or amortization.

At present, the subject property, which is adjacent to the south campus of the University of San Jose-Recoletos, is being occupied by over 202 families registered under the Bamboo Upper Laguna Homeowners Association.

Back in 2012, negotiations between the city government and the private corporation already ensued.

Japer Development Corp., through its Community Mortgage Program, reportedly offered to sell eleven lots including the fire-stricken property at P2,500 per square meter, although the prevailing value of the lot is P5,000 per square meter, based on the market value as of 2003; or P7,000 per square meter, as to BIR zonal valuation.

However, as agreed, the selling price was summed up to P31,250,000. The remaining balance of P15,625,000 will be paid within six months after the signing of contract.

The identified beneficiaries have already been allowed to return and build their own houses in the fire-hit area. — May B. Miasco/BRP (FREEMAN)

ACIRC

BAMBOO UPPER LAGUNA HOMEOWNERS ASSOCIATION

CEBU CITY

CEBU CITY TREASURER

CITY

CITY COUNCIL

CITY COUNCILOR NENDELL HANZ ABELLA

COMMUNITY MORTGAGE PROGRAM

FIRE

JAPER DEVELOPMENT CORP

LOT

Philstar
  • Latest
Latest
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with