Cagayan de Oro councilor Edgar S. Cabanlas, chair of the City Council committee on urban and rural poor, recommended the approval of his proposal to grant higher equity to urban poor associations.
It may be recalled that Councilor Cabanlas, in his special report during the regular session a few weeks ago, proposed an increase in financial equity from 10-percent to 20-percent.
He said those urban poor organizations living inside private properties will be given 20-percent equity as a partial down payment of the total value of the property they are occupying.
During the committee meeting yesterday, Cabanlas said he realized that the 10-percent is not enough to cover the partial payment for urban poor to acquire private property.
“Ten-percent kulang kaayo dili makatabang despite the fact nga daghan sa atong natagaan, successful. Nakabayad na karon pero wala mahulog sa piso kay sila man nagbayad sa 90-percent walay labot ang city,” he said.
Cabanlas, however, stressed that the equity will only be granted to accredited associations.
He said the City Legal Office interposes no objection to the proposal as this is part of the discretion of the city government to allow accredited housing urban poor organizations to borrow from the city social programs.
The councilor said he will request the City Housing and Urban Development Department (CHUDD) to verify if an association is qualified to avail of the program.
“Pag-abot nga kining usa ka organization will qualify then you request us again, therefore, an ordinance will be passed to allow this association to borrow from the city,” he clarified. (SP)