TAGUM CITY— 93 lucky city employees of the City Government of Tagum won low-cost housing financed by Social Housing Finance Corporation (SHFC) during a raffle draw, Friday, August 16, 2019.
The said project is under the Community Mortgage Program of SHFC wherein the office caters to various registered associations that are lent the capital to buy the lots to build low-cost houses, and help the beneficiaries in processing their documents.
To realize these goals, the office created the Grassroots Special Action Team to assist the beneficiaries.
285 city employees applied to get their chance of winning a house and lot financed by SHFC. Eventually, 93 of them won house lots located at barangay San Miguel.
The recently raffled lots are 80 square meters in size with the corner lots being 124 square meters. SHFC will enforce a 6% per annum interest for the next 25 years on the city government employees.
Meanwhile, the local government unit ensured that it will help in the land development phase of the housing site. It will also facilitate the future coordinative meetings of the beneficiaries who already formed an association for this matter.
After the meetings, the association and SHFC will be able to identify their monthly payable amount which is expected to help city employees to have affordable homes registered under their own name. Ziyarah Manalo/CIO Tagum
Excited city employees take their chances on a house and lot raffle draw last August 16, 2019 facilitated by the City Housing and Land Management Office in partnership with Social Housing Finance Corporation which would lend the city employees capital to buy and build their dream homes. Leo Timogan/CIO Tagum