The Quezon City Council has repealed an ordinance creating the Quezon City Housing and Urban Renewal Authority (QC HURA) to give way to a similar entity created by Congress to address the resettlement and housing concerns of the city.
The QC HURA, a corporate entity, had acquired 300,000 subscribed shares of stock with a value of P300 million and constructed numerous low-cost, socialized and medium-rise residential buildings sold to city residents, especially the underprivileged, at affordable prices under minimal payment schemes.
Perhaps inspired by the advocacy initiated by the Quezon City Council, the 16th Congress enacted Republic Act 10646 creating the Quezon City Development Authority (QCDA) duplicating and expanding further the purpose of QC HURA.
The creation of the QCDA will enable the city government to identify more areas within the city for priority development, upgrade blighted areas to make them more livable and convert idle lots into productive venues for economic growth.
As a government-owned or controlled corporation, the QCDA is governed by the provisions of Republic Act 10149 or the “GOCC Governance Act of 2011” and subject to the regulatory jurisdiction of the Governance Commission for GOCCs.