July 16th, 2008
For housing, roads, computer centers, public cemeteries
By JACK C. GADAINGAN
NAVAL, Biliran — People living in rented dwellings here will have the opportunity to own their residential houses and lots as the Prolend credit facility of the Department of Finance-Municipal Development Fund Office (DoF-MDFO) has approved an P80-million loan for the province.
The amount will be used to fund major investment projects in the province. This is seen as an ingenious move to provide housing facilities and better services and, at the same time, generate more income for the provincial government.
The P80-million Prolend loan will be used to provide a P30-million funding for a low-cost housing project for government and non-governmental workers, P29.5 million funding for farm-to-market roads, P2.5 million funding for the construction of computer learning centers, and P3 million for improvement of public cemeteries of all creeds in the provinces eight municipalities.
Biliran Gov. Rogelio “Roger” J. Espina said the loan agreement was recently approved by the Department of Finance (DoF) because the DoF saw the capability of the province to pay the loan. It was reported that it would not even take 50 of the 20 percent Economic Development Fund to service the loan that is payable in 10 years.
At least 1,190 houses and lots can be accommodated in the low-cast housing project for government and non-governmental employees in Barangay Larrazabal near the government center.
The lots will be sold at P650 per sqiare meter so that ordinary income earners like teachers, police, firemen and employees in the private sector can afford it.
Without assistance in such project, it would be very difficult for them to own a house, most especially now that land Naval is already very dear at P10,000 per square meter, almost like the prices in urban cities.
The R30-million funding from Prolend will be used to finance Phase I of the housing project, which will be a community of at least 390 families complete with sidewalk, water supply and electric power.
The income derived from the sales of Phase I will be utilized to finance Phase II of the housing project, and that of Phase II will consequently finance Phase III — and so on until Phase IV.
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