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After the Supreme Court’s nullification of the Quezon City Zoning Ordinance, the Manila Seedling Bank Foundation Inc. plans to take over its foreclosed headquarters inside the seven-hectare property of the National Housing Authority located along the corner of Epifanio delos Santos Avenue and Quezon Avenue on Sept. 1.
“A Million Trees Dream is helping me now. We will re-enter the property on Sept. 1. This group will discuss the issue with Mayor Joy Belmonte, the former Speaker and National Housing Authority general manager Joeben Tai,” he told the Manila Standard. In 2012, the Quezon City government seized the NHA property where the MSBFI was located under a usufruct, auctioned it, and eventually foreclosed it for unpaid real-estate taxes of P57 million.
The city government then planned to convert and develop the seven-hectare prime lot of NHA into a Central Business District.
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