Attached herewith is the resolution, Accrediting Projects of Non-Governmental Organizations and Foundations Engaged in Community Development for the Underprivileged and Homeless Sector as Compliance to the 20% Socialized Housing Requirement Under Section 18 of R.A. 7279, which was approved by the Board on 16 June 2004.

The above was published in The Philippine Daily Inquirer on 31 July 2004, and, in accordance with the provisions of law, shall take effect fifteen (15) days from its date of publication.

Please be guided accordingly.

Adopted: 18 Aug. 2004

(SGD.) ROMULO Q.M. FABUL

Resolution No. 767, S. 2004

Accrediting Projects of Non-Governmental Organizations and Foundations Engaged in Community Development for the Under-Privileged and Homeless Sector as Compliance to the 20% Socialized Housing Requirement under Section 18 of RA 7279

WHEREAS, the Board is committed to fast track the production of housing most especially to the poorest of the poor of our citizens;

WHEREAS, this commitment has been eloquently demonstrated by the Board by its approval of joint venture schemes as mode of compliance to Section 18 of RA 7279, namely; the purchase of socialized housing bonds of the Home Development Mutual Fund, HLGC Zero Coupon Bonds and HGC Special Series Bonds by the owner-developer of main project under Board Resolution No. R-660, Resolution No. R-721, all series of 2000 and Resolution No. 739 series of 2003;

WHEREAS, non-governmental and non-profit organizations and foundations engaged in community development for the under-privileged and the homeless sector has identified shelter as one of its major components by the production of inexpensive houses, tapping the bayanihan spirit, while giving the poor beneficiaries the opportunity to work together, for this purpose in partnership with corporations, universities, civic groups and government agencies in uplifting their status in life;

WHEREAS, these non-governmental and non-profit organizations and foundations had attained over the years a track record of building "7,000 homes in 280 communities" through the generosity of its partners in the country and abroad and had launched in October 2003 GK 777-the vision of building 700,000 homes in 7,000 communities in the seven (7) years;

WHEREAS, accrediting the projects of these non-governmental and non-profit organizations and foundations to be eligible as compliance to the requirement of Section 18 of RA 7279 will afford opportunities for them to increase their capacity in the actual production of housing units to complement the goal of government for mass housing;

WHEREAS, these non-governmental and non-profit organizations and foundations intend to enter into a joint venture agreement or memorandum agreement with commercial developers willing to provide land or funds for housing and/or site development and in return non-governmental and non-profit organizations and foundations will assign the credits to the developer as compliance to Section 18 of RA 7279;

WHEREFORE, be it resolved as it is hereby resolved that the pertinent portions of Section 3, Mode of Compliance, of the Rules and Regulations Implementing Section 18 of Republic Act No. 7279, be amended, as the same are HEREBY AMENDED, to read as follows (amendments all in capital letters):

 

"Section 3. Mode of Compliance.

 

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(d) The socialized housing project equivalent to twenty percent (20%) of total subdivision project cost may also be complied with in any of the following manner feasible in the municipality or city:

 

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(4) Joint Venture Projects

 

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The joint venture may consist in or include the purchase of socialized housing bonds or HGC Zero Coupon Bonds of HGC Series Bonds by the owner-developer of a main project from the local government unit where the main project is located or from any of the housing agencies, equivalent to 20% of the cost of the main subdivision project.

Proof of such purchase shall be submitted to the board together with a certification by the bond issuer confirming the nature and character of the bond for socialized housing of HGC Zero Coupon Bonds or HGC Special Series Bonds or Pag-ibig Housing Bonds as the case may be.

FURTHERMORE, PROJECTS OF NON-GOVERNMENTAL AND NON-PROFIT ORGANIZATIONS AND FOUNDATIONS ENGAGED IN COMMUNITY DEVELOPMENT FOR THE UNDER-PRIVILEGED AND THE HOMELESS SECTOR DULY REGISTERED WITH THIS BOARD ARE HEREBY ACCREDITED AS ELIGIBLE FOR SOCIALIZED HOUSING COMPLIANCE.

Adopted: 16 June 2004

                                                                                               

(SGD.) MICHAEL T. DEFENSOR   Chairman
(SGD.) RAMON LIWAG   Undersecretary, DOJ   Ex-Officio Commissioner	(SGD.) ROMULO Q.M. FABUL   Chief Executive Officer and   Commissioner
(SGD.) EDUARDO R. SOLIMAN, JR.   Undersecretary, DILG   Ex-Officio Commissioner	(SGD.) TERESITA A. DESIERTO   Commissioner
(SGD.) AUGUSTO B. SANTOS   Deputy Director- General, NEDA   Ex-Officio Commissioner	(SGD.) FRANCISCO L. DAG ALAN   Commissioner
(SGD.) JESUS YAP PANG   Commissioner
Attested by:
(SGD.) ATTY. CHARITO M. BUNAGAN-LANSANG   Board Secretary