BCDA supports housing for the poor; turned over P2.68-B
Posted: April 20, 2012 | Category: Corporate Social Responsibility
The state-owned Bases Conversion and Development Authority (BCDA) has raised a total of P2.68 billion for the country’s National Shelter Program (NSP) over the past 20 years that has paved the way for affordable housing for the poor.
“The money generated from the disposition of former Metro Manila camps has not only funded the Military Modernization Program, but also provided decent housing leading to improved and dignified lives of our poor and homeless countrymen,” BCDA President and CEO Arnel Paciano D. Casanova said.
He said that of the P2.68 billion, P1.88 billion was generated through the disposition of former Metro Manila camps, the biggest of which are Fort Bonifacio and Villamor Air Base now known as Bonifacio Global City and Newport City respectively.
Pursuant to RA 7917, as implemented by Administrative Order No. 236, the National Housing Authority (NHA), National Home Mortgage Finance Corporation (NHMFC) and Home Insurance Guaranty Corporation (HIGC) are entitled to receive 12 percent share of the net proceeds from the disposition of former Metro Manila Camps to finance the NSP.
“The P1.88 billion has been remitted to the National Treasury,” Casanova said adding that once BCDA has remitted the fund to the National Treasury, the utilization and distribution of the remittances become the responsibility of the Department of Budget and Management pursuant to the approved fiscal program of the government. DBM releases the share to the NHA, NHMFC and HIGC to finance the NSP.
He said the remaining balance comprises P805.66 million worth of properties turned over by the BCDA to the NSP. These properties are the Philippine Centennial Village, Lupang Katuparan, and the BHIT Park—all located in Taguig City.
The properties, covering a total of 93.37 hectares were declared socialized housing sites with mixed use development by virtue of Executive Order (EO) No. 70, as amended by EO 465.
Casanova said the BCDA’s sizable contributions to the NSP were made possible “through our strong performance in the disposition of state assets entrusted to the BCDA for mixed commercial-residential use.”
“The BCDA has been successful in forging viable partnerships with private businesses for the development of former military facilities and baselands within Metro Manila into high-end residential and commercial centers, with the Bonifacio Global City and Newport City as the centerpieces,” Casanova said.
He added that the revenues generated by the BCDA for the NSP through the disposition of the former Metro Manila military camps ensure equitable access to housing for all, and inclusive development where the poor benefits from the revenues generated, consistent with President Aquino’s policy to bring development to the poor.