SP OKs usufruct agreement with coop for livelihood project

THE Kahugpungan sa Kumunidad Alang sa Panginabuhian-Former Rebels Cooperative will soon have a new livelihood project area in Cagayan de Oro City.

This, after the 18th City Council during its regular session presided over by Vice Mayor Raineir Joaquin V. Uy authorized City Mayor Oscar Moreno to enter into and sign the Deed of Usufruct with the cooperative covering the use of an 85-square meter lot for cooperative’s livelihood project area.

The project lot is a portion of the city government’s property located at the Macanhan Relocation Site in Barangay Carmen.

In his letter to the City Council, Atty. Jose Sabanal of the City Legal Office said the use of a portion of the city’s property as a livelihood center for the said homeowners association is a manifestation of the commitment of the local government unit to empower the marginalized sector in the community and reduce the poverty level in the city.

Under the contract, the term of the usufruct shall be for ten years, renewable at the discretion of the owner on condition that the cooperative shall exclusively use the area to construct its building and establish its office, among others.

The facility is intended as an appropriate working area to enhance the efficiency and productivity of its members, The Power learned.

The legislation was favorably endorsed by the committees on cooperatives and on laws and rules chaired by Councilors Enrico Salcedo and Ian Mark Nacaya, respectively. (JBD)