Binay Tells LGUs to Adopt ‘HGC-Virac Model’
Date Posted: June 13, 2013
Vice President Jejomar C. Binay and Virac, Catanduanes Mayor Jose U. Alberto II unveil the commemorative
marker for the turnover of Our Lady’s Village IV-B to the local government of Virac. HGC President Atty. Manuel
R. Sanchez (rightmost) applauds the successful turnover.
Vice President and Housing and Urban Development Coordinating Council (HUDCC) Chairman Jejomar C. Binay urged LGU executives to adopt the ‘HGC-Virac model’ to address the housing needs of Filipinos in the countryside.

Binay gave the message during a Memorandum of Agreement signing and turnover ceremony between the housing agency Home Guaranty Corporation (HGC), represented by its president Atty. Manuel R. Sanchez and the municipality of Virac, Catanduanes, represented by Mayor Jose Alberto.

HGC sold a long-held non-performing asset through a negotiated sale to Virac LGU which it will use for its housing program. The 9-hectare Our Lady’s Village IV-B located in Barangay Cavinitan, Virac has been earmarked as a relocation site for Virac’s informal settlers, evacuation site for residents living along coastal and low-lying areas, low-cost housing site for municipal employees and for other public purposes.

VP Binay, who also sits as Vice-Chairman of the HGC Board, hailed the turnover as a good example of “national-local partnership” for addressing the country’s housing needs.