MANILA, (PNA) — The Quezon City government has ordered a study on a land banking system that the city government may have to establish during the incumbency of Mayor Herbert Bautista.
In a statement issued this weekend, Bautista said the QC government has some properties such as idle land and abandoned or undeveloped land that could be better utilized for land banking purpose to earn additional income for the city.
Bautista said that money collected from land banking could address the city’s worthy projects such as socialized housing for informal settlers and development of infrastructures such as parks and recreational venues in 142 barangays.
“The land banking system will also spare the city of resorting to buying private properties when building low-income housing projects, new schools, evacuation centers, and multi-purpose halls,” said Bautista.