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Creating safer communities for our less fortunate and underprivileged Filipino brothers and sisters is a great thrust of our national government. This is the goal of the Department of Budget and Management as it released P286.7 million to the National Housing Authority (NHA) for the implementation of the North Triangle Relocation Project, chargeable against the FY 2014 Supplemental Appropriations which is to affect about 1,308 slum dwellers in the area.
The North Triangle Relocation Project involves the relocation of informal settler families (ISFs) living in North Triangle, Quezon City to pave the way for the development of the area into a new central business district.
The said release will fund the relocation of 1,308 ISFs tentatively for Bagumbong, Caloocan City. Prior to this, 745 ISFs had already been relocated to San Jose del Monte City, Bulacan under the same program.
Budget Secretary Florencio "Butch" Abad said, "Providing ISFs the opportunity to live a dignified life with a home they can call their own is part of the administration's strategy to create inclusive growth for all Filipinos. But the development of the North Triangle will also help generate more jobs for people with the creation of a new business hub in the area."
The total cost of the project is P809.3 million, which will cover the budgetary requirements of the house and lot packages for the ISFs. Of this amount, P450 million will be funded by the national government with the remaining balance to be provided by Ayala Land, Inc.
The disbursements for the said project will be pegged at P65.8 million by April, P109.6 million by May, and P111.3 million by June, this year.
Abad added, "Projects like these are in line with the administration's goals of spending on the right priorities by focusing on the needs of the poor and vulnerable localities. But we're also enhancing the country's economic progress through partnerships with private companies to create a better life for all, and not just for the fortunate few."