‘Green’ ordinance mulled to generate tax incentives

A LEGISLATOR in Cagayan de Oro is mulling an ordinance involving “green projects” that would generate tax incentives, at the same time save the deteriorating environment.

Councilor President Elipe said the City Government would consider the proposal of the Matrix Consortium Community Support Services Group for a solar energy project, a renewable energy source for power with no study of negative effects to nature.

Elipe, chairperson of the committees on energy and environment, said the Solar Wind Depot Ltd. (SWD), with Matrix Corporate Services Group Canada (Matrix Consortium), is proposing to develop a state-of-the-art solar power plant complex to be built in the country this year.

The City Government is invited into a joint venture for a stakeholders’ cooperative, utilizing a Public-Private Partnership or P3 model for financing, Elipe said.

The city official said, through these initiative stakeholders’ cooperatives, it can also include revenue producing partners that contribute through lease agreement, or other arrangements to the financial success of the overall project.

In most Government Law or Cooperatives Acts, stakeholders’ cooperatives receive unique treatment, said the company.

It was learned that Matrix Consortium is a P3 facilitator with access to funding (if secured by a level of local government through a number of different instrument) at Philippines bond rate, at fixed interest, for 30 years, and partners to assist in the development of the case for stronger Cooperatives Law, and Energy Taxes.

“Let us start in the community, and hopefully the equipment in the city will be run by renewable energy in the proper time,” Elipe said.

He even urged stakeholders to support this initiative as their way of supporting to save Mother Earth.