In early June, we made some negotiations with Cantilan bank to provide financial assistance for the project after experiencing shortage in our funds. Thus, leading to the halt of the project. We had 2 options: One is for Cantilan Bank to increase the selling price to P900/ sq. meter, then they will build the roads for us, The second option is to ask contribution from the community to finish the roads. In behalf of the community, We chose the latter, because P900.00/ sq meter means an equity of around 10k-20k pesos in an area of 60-80 sq meters.
After several minutes of talk and re-negotiations, the bank finally agreed to donate a total of 125 truck loads. I then asked a favor from the truck owners if we can increase it to 138 truck loads, which they did. As of now, around 80% of the roads have been completed, however back filling could not operate on a regular basis because of the unstable weather conditions. The soil quality is muddy and is highly suggested that we use "sandy" toppings from Taguibo Quarry. However, giving consideration to our limited budget, it's more expensive and with less truck load. It is highly advised that the area should have constant development upon project take out. There are already 2 houses built in the area, still no electricity and water supply. The association will request for it once several houses have already been built.
All the documents have already been processed, MGB, NIA, DPWH certificate, HLURB registration, BIR Registration etc. The documents are now scheduled for hearing by Hon. Atty. Cembrano so we could reclassify the land to residential, once done, we will then have another hearing for the approval of our Subdivision plan before forwarding it to the DENR. We are still awaiting for the ECC Report as well.
* The Community is running low on funds, please pay the balance of 2,520 as soon as possible so the roads would be completed. Thank you.*