ILOILO CITY: The 2.4 hectares owned by Bangko Sentral ng Pilipinas (BSP) but currently occupied by more than 350 informal family settlers along the Fort San Pedro area will soon be re-developed to include the building of a new BSP Western Visayas Regional Office. The transformation of the Fort San Pedro into a new government hub complex is set to commence with the signing of a Memorandum of Agreement on the re-acquisition of the dilapidated century-old complex by BSP last July 22. Senate President Franklin Drilon witnessed the signing of a MOA entered into by BSP Gov. Amado Tetangco Jr., National Housing Authority General Manager Chito Cruz, BSP Deputy Governor Diwa Guinigundo and Iloilo City Mayor Jed Mabilog that was held at the BSP central office in Manila. Under the MOA, the BSP will provide some P70 million to provide decent houses for the 277 informal settler families in the property, while the NHA will add P18 million for the additional 73 informal settler families which were not part of the original families surveyed.