Capítulo I Presentación

TranslationInto Englishof 9 UITs and maximum value of 45 UITs. This product hasa fixed rate in Nuevos Soles for a payment term of 10 to20 years, and maintains the primary benefit, known as thePunctual Payer Bonus (Premio al Buen Pagador - PBP). Thisproduct has a better funding cost.As from April 22, 2010, the amount of the PBP wasincreased from S/. 10,000 to S/. 12,500, and the fundingrate was reduced by 1%. This improvement to the producthas helped to make it more attractive, maintaining the levelof placements above 5500 per month, with an averageinterest rate to the final client in the market for 2010 ofbetween 9.22% and 12.90%.Since its launch, the placement level of Nuevo CréditoMIVIVIENDA has remained on the rise, as a result of the positivereception of the buying public. Financial entities have alsoexpressed interest in using the funding line for this product.As a general balance, the placements of the Nuevo CréditoMIVIVIENDA between January and December totaled 6,437credits, with the average number of placements per monthclosing out the year at 536 credits.TECHO PROPIO PROGRAMFondo MIVIVIENDA S.A. manages the Techo Propio Program,created by Law 27829, amended by Executive Order(Decreto Legislativo) 1037, and regulated by SupremeExecutive Order (Decreto Supremo) 013–2007–VIVIENDA,which, together with the Family Housing Bond (BFH),forms a comprehensive financing system for the purchase,construction on the buyer’s own property or betterment ofsocial interest housing. This program brings together threecomponents:• The prior savings that must be performed by the family• A direct aid package from the State, through thegranting of the BFH delivered to the beneficiary familieswithout any repayment obligations• A mortgage credit, only if necessary, granted by afinancial institution to cover the difference betweenthe value of the housing to be purchased, constructedor improved, and the two foregoing componentsThe following modalities have been established for use inthis program:Pu r c h a s e Of New Ho u s i n g (Av n): MinisterialRe s o lu t io n 733-2008-ViviendaThis modality allows persons who qualify for the BFH topurchase housing with a value of between 5.5 UITs and14 UITs. The housing is paid off using the sum from thepayment of the initial installment (minimum of 3% of thevalue of the housing), the BFH or a subsidy granted by theState (between 3 and 5 UITs, depending on the value ofthe housing). In the case that savings of the Family Groupplus the BFH are less than the price of the housing chosen,it is necessary to request supplementary financing or amortgage loan for up to 30 years at a fixed rate in soles.This year, the Techo Propio Program under the AVN modality wasexecuted normally, paying out a total of 5,344 BFHs nationwide.Co n s t r u c t i o n On Th e Beneficiary’s Ow n Pr o p e rt y(Csp): Ministerial Re s o lu t i o n 161-2009-ViviendaThis allows persons with their own land or separate air rights tobuild social interest housing with the consultancy of a technicalentity. The land or separate air space must necessarily have adeed issued to the name of the head of family.The value of the housing to be built is that resulting fromthe work quote, plus the value of the land or separateair rights. This value of the housing shall be between 4.9UITs and 12 UITs, with a BFH value of 4.7 UITs, as well asupplementary credit, if applicable.Ho u s i n g Betterment (Mv): Ministerial Re s o lu t i o n161-2009-ViviendaModality by which families who own housing may makebetterments. The laws in force establish a works value of 2.1UITs, with a BFH of 1.9 UITs.With regard to the modalities of CSP and MV, the budgetallocated for 2010 was prioritized for attention to zonesdeclared under emergency due to the earthquake thatoccurred on August 15, 2007 (department of Ica; provincesof Cañete and Yauyos in the department of Lima; districts ofAcombambilla and Manta in the province of Huancavelica; andprovinces of Castrovirreyna and Huaytará in the departmentof Huancavelica), paying out a total of 13,388 BFHs.Construction on the Beneficiary’s Own Property and HousingBetterment in Rural Areas (Ministerial Resolution 320-2009-VIVIENDA)Under this modality, the BFH is granted to families so thatthey may perform the construction or betterment of theirhousing in rural areas.In the case of CSP, the works value may be no less than 4.9UITs up to 12 UITs, with a BFH of 4.7 UITs.In the case of MV, the works value shall be equivalent to 2.1UITs and the BFH is for 1.9 UITs.With regard to the modalities of CSP and MV in rural areas,all parties (whether individuals or legal entities) interested inparticipating as Rural Technical Entities (ETRs) were informedthat registration for ETRs would be open on March 1, 2010.By the end of the call, a total of six (6) ETRs were registered.Ministerial Resolution 129-2010-VIVIENDA, published onJuly 24, 2010, called on the population of the rural areasin the provinces of Chincha, Pisco and Ica to participate inthe Techo Propio Program with the Rural Family HousingBond. A total of 247 Family Groups (FGs) signed up. Takinginto account the allocated budge, 200 FGs were selectedaccording to the score obtained.PUBLIC BIDDING PROCESSESPu b l i c Bi d d i n g Processes Fo r Th e Aw a r d i n gOf La n d s – 2010 Pe r i o dIn order to contribute to the development of the real estatesector, Fondo MIVIVIENDA S.A., through the Real EstateBusiness Management, organizes public bidding processesfor the awarding of lands in order to select the companyinterested in acquiring the land for the development ofprojects, megaprojects and special projects that involve theconstruction of social housing, commercial and technological/educational infrastructure, etc.For this purpose, each participant purchases the publicbidding process terms and conditions and, with them, atechnical file on the project containing the basic technicaland legal documentation for the formulation of theirproposals.The proposals submitted are evaluated based ontechnical criteria (urban quality and/or residentialquality and/or technical capacity) and/or economiccriteria (average price of housing, etc.), awarding thecontract to that proposal which is deemed feasible in theshortlisting process and which obtains the highest scorein the technical and/or economic evaluation, accordingto the evaluation criteria set forth in the terms andconditions.132 Fondo MIVIVIENDA S.A. Memoria Institucional 2010 133