By Jhon Aldrin Casinas
Marikina City Mayor Marcelino “Marcy” Teodoro ordered the City Land Management and Community Relations Division (LMCRD) to fast-track the processing of documents for the distribution of the newly acquired three-hectare lot in Barangay Tumana to around 1,000 beneficiaries.
Marikina City Mayor Marcelino “Marcy” Teodoro ordered the City Land Management and Community Relations Division (LMCRD) to fast-track the processing of documents for the distribution of the newly acquired three-hectare lot in Barangay Tumana to around 1,000 beneficiaries.
Nena Tiglao, LMCRD chief, said that they will submit the subdivision plan and other necessary documents for the land distribution to the City Council on Tuesday.
“After the City Council approved the subdivision plan of the three-hectare land, we will be subdividing the land for the 1,000 beneficiaries. We will also create a Contract of Sale for the beneficiaries,” Tiglao said.
The land distribution is under the “Katiyakan sa Paninirahan Program” of the city government.
The Marikina City government finally acquired the 33,000-square-meter lot in Barangay Tumana on September 15 after 27 years of legal battle.
Teodoro said the lot was purchased from the Philippine Deposit Insurance Corporation (PDIC) which is the liquidator of the Admiral United Savings Bank (AUSB). In 1984, the AUSB was closed down by the Bangko Sentral ng Pilipinas (BSP).
PDIC said that a private corporation which formerly owned the lot insisted ownership over the property, causing an almost three-decade litigation.
Teodoro and PDIC President Roberto Tan led the turnover of the lot’s deed of sale. It was witnessed by the beneficiaries.
According to Teodoro, the subdivided lots will be sold to beneficiaries for the same price as it was acquired from PDIC which is only for P799 per square meter.
“This is not a community mortgage program. This is a local initiative by the city. What we have done was a direct acquisition of property,” Teodoro said.
“We will be subdividing and awarding it to individual families who are already occupying the said area,” he added.