9th Sangguniang Panlungsod 6/30/2007 – (6/30/2010)

Summary/Additional Info:

Summary: This ordinance forgives all accrued penalties on unpaid monthly amortizations of beneficiaries under the Naga City Socialized Housing Program, provided they meet conditions like being in the original UPAO list, having a combined income below Php20,000, and owning no other real property worth over Php300,000. Condonation is granted upon paying the principal and interest, with rates of 100% if paid within 12 months, decreasing to 25% if paid within 24 months. The benefit is one-time only and excludes cancelled lot awards. The UPAO will handle implementation and ensure beneficiaries are informed.