SHFC visits Catbalogan City and assists LGU with LCM Program

Officers and trainers from the Social Housing Finance Corporation visited Catbalogan City and The City Government of Catbalogan from June 17 – 19, 2013 to assist the implementation of their Local Community Mortgage Program (LCMP).

The newly-created Technical Working Group (TWG) of the said program underwent a training from June 18-19 in Catbalogan City. Members of the

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said group are from the City Treasurer, City Legal, City Assessor, City Accountant, City Budget, City General Services, City Planning and Development Coordinator, and from the Sangguniang Panlungsod Committee on Housing.

With an Omnibus Commitment Line of PhP 48 Million to be released by the SHFC for the said project, the said undertaking is set to benefit more than 800 informal settlers dwelling in 8 urban poor sites in Catbalogan City that are currently privately owned.

Combined with a counterpart fund from the City Government, said amount will be used to buy off the properties from the landowners. With the said properties now government-owned, residents are given a more affordable payment scheme and a more comfortable payment period in order to obtain land titles.

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