Pag-IBIG turns over P3.5 M for Lingayen housing project
LINGAYEN – A P3.5 million check was turned over to the provincial government by the Pag-IBIG Fund as part of the initial proceeds for the land development work on a socialized 257-housing project in barangay Maniboc here.
Gov. Victor Agbayani received the check from Ma. Imelda Mabutas, officer-in-charge of the Housing Loans Division of Pag-IBIG Fund regional office in a simple ceremony at Urduja House.
The amount will fund the land development on the 5.5-hectare, 257-housing units Maniboc project, a joint undertaking of the province and the National Housing Authority (NHA).
Provincial Housing and Urban Development Officer Alvin Bigay said 30% of the proceeds will go the province to be deposited to the Provincial Housing Trust Fund while the remaining 70% will remain with NHA to recover the investments made in financing the development of the property.
Agbayani cited the support given by the Pag-IBIG in facilitating the processing of the individual housing loans of the beneficiaries, particularly the lowering of interest rates to make the dwelling units affordable.
The governor expressed optimism that with the funds, housing production in Pangasinan could now be sustained to provide more low-cost housing units for the poor.
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