Buzz: Fall from grace-A A +A
Sunday, January 5, 2014
Lawyer Jose Marie Poblete was Cebu City Mayor Mike Rama’s “go-to guy” but recently, he lost the post of city administrator to Eugene Elizalde, an engineer and close friend of the mayor.
A City Hall observer said the cause of Poblete’s fall from grace was related to the City’s share in the sale of Filinvest Land’s condo units at the South Road Properties (SRP).
The City wanted to collect P500 million from Filinvest and was planning to go to court when the property developer hesitated to pay the amount.
Poblete was the one tasked with negotiating the payment but shortly after the City announced it was going to take legal action, Filinvest and the City Government and the City Government issued a joint statement that the developer would pay the local government more than P1billion. The amount represents payment for the SRP lots and the
share of the sale of the condo units.
The City Hall observer said maybe the mayor was not satisfied with the outcome of Poblete’s talks with Filinvest.
Published in the Sun.Star Cebu newspaper on January 06, 2014.