(NAR) VOL. 19 NO. 1 / JANUARY - MARCH 2008
"Section 3. Mode of Compliance.Adopted: 17Aug. 2007
(a) For main subdivision projects which are limited to the sale of lots only; xxx
(b) For main subdivision projects which consist of the sale of house and lot packages: xxx
(c)The socialized housing project equivalent to twenty percent (20%) of total subdivision project cost may also be complied with any of the following manner feasible in the municipality or city: xxx
(3) Community Mortgage Program (CMP). The developers participation in a CMP project may either be any of the following: xxx
(4) Joint-Venture Projects. The developer may enter into a joint project or agreement with the concerned local government unit, with another private developer or any of the housing agencies, to develop a socialized housing project. His participation shalf be equivalent to 20% of project area or 20% of the cost of the main subdivision project. The developer shall be required to submit to the HLRB a copy of the Joint-Venture Project. THE JOINT VENTURE AGREEMENT SHOULD CONTAIN THE FOLLOWING: THE CONTRIBUTION OF A SPECIFIED SUM TO A COMMON FUND AND THE SHARING OF PROFITS, x x x"
(SGD.) THE HONORABLE NOLI L. DE CASTRO | |
Vice President of the Philippines | |
and Chairman, HUDCC | |
(SGD.) ERNESTO L. PINEDA | (SGD.) ROMULO Q. FABUL |
Undersecretary, DOJ | Chief Executive Officer and Commissioner |
(SGD.) AUGUSTO B. SANTOS | (SGD.) TERESITA A. DESIERTO |
Deputy Director-General, NEDA | Commissioner |
(SGD.) AUSTERE A. PANADERO | (SGD.) JESUS YAP PANG |
Assistant Secretary, DILG | Commissioner |
(SGD.) JOEL I. JACOB | (SGD.) ARTURO M. DUBLADO |
DPWH | Commissioner |
ATTESTED BY: | |
(SGD.) CHARITO B. LANSANG | |
Board Secretary |