Definitions
- Defines key terms including: Asset-Backed Securities, Balanced Housing Development, BALAI, Community Mortgage Program, Compliance, Main Project, Developer, Housing Agencies, Joint Venture, Land Development, Socialized Housing Programs and Projects, Solidary Liability.
- Clarifies measurements such as condominium area and project cost.
Preferred Manner of Compliance
- Developers must allocate minimum socialized housing: 15% for subdivisions, 5% for condominiums.
- Compliance projects must meet HLURB and legal standards.
Alternative Manners of Compliance
- Options include development in new settlements; joint ventures with LGUs, housing agencies or accredited developers/NGOs; participation in CMP projects; participation through investment in new socialized housing projects.
- Conditions apply such as solidarity liability with compliance project developers.
- Compliance projects must follow design standards and require HLURB Chief Executive Officer's approval within 10 working days.
Location Requirements
- Compliance projects should be in the same city or municipality as the main project if feasible.
- Geotagging mandatory for project verification.
Compliance Computation
- Developers cannot mix project area and cost metrics in a single compliance calculation.
Registration Protocol
- New socialized housing programs need HLURB CEO approval.
- Issuance of provisional and final Certificates of Compliance contingent on project completion and geotagging verification.
Accreditation
- Developers and NGOs in joint ventures must be accredited per HLURB guidelines.
Incentives for Private Sector Participation
- HLURB to coordinate for creating one-stop offices, financing simplification, and various tax exemptions including income, capital gains, VAT, transfer, and donor's taxes.
Socialized Housing Certification
- HLURB issues registration and licensing certification.
- Developers may utilize advanced compliance options for future projects.
Incentivized Compliance
- Extra incentives for participation in approved socialized housing initiatives, including non-recoverable constructions like utilities and special housing.
- Minimum value contributions for credited participation are stipulated.
- Agreements needed with HLURB, HUDCC, and SAG/Local gov’t units.
Compliance Monitoring and Enforcement
- HLURB ensures compliance through documentation, public notices, project registration annotations with geographic coordinates, physical inspections, and sanctions for violations.
Rulemaking Authority
- HLURB CEO can issue implementing guidelines and circulars within rule boundaries.
Penalties for Violations
- Progressive sanctions from fines, suspension to business license cancellation.
- Corporate offenders’ responsible officers held liable.
- Suspension or cancellation applicable if compliance project incomplete.
- New project applications withheld if prior compliance projects remain incomplete.
Criminal Prosecution
- HLURB authorized to institute criminal complaints following due process.
Repealing Clause
- Repeals inconsistent prior board resolutions and rules.
- Specifically repeals Board Resolution No. 946, Series 2017.
Separability
- Invalid parts do not affect the rest of the Rules.
Effectivity
- Rules effective 15 days after publication in Official Gazette or national newspaper.