Make things happen-A A +A
Tuesday, August 12, 2014
Ten Cebu City Councilors, including five Bando Osmeña-Pundok Kauswagan (BOPK) allies, have filed a resolution authorizing Mayor Mike Rama “to negotiate and dispose by sale” 45.2 hectares of land at the South Road Properties (SRP).
City Ordinance 2332, passed by BOPK allies, prohibits Rama “to openly entertain” investors and developers to purchase parcels of land at the SRP without prior council approval.
These BOPK allies may have finally realized that “together they can make things happen.”
The BOPK allies who signed the resolution are Councilors Gerardo Carillo, Noel Eleuterio Wenceslao, Roberto Cabarrubias, Eugenio Gabuya Jr. and Richard Osmeña.
On the other side of the political fence, Team Rama’s Councilors Nendell Hanz Abella, James Cuenco, David Tumulak, Mary Ann Delos Santos and ex-officio member Philip Zafra signed the resolution.
Perhaps BOPK allies knew the grass is greener on the other side of the fence.
City Hall officials said the sale of the lot is expected to earn for the city at least P12 billion at P20,000 pesos per square meter.
Part of the proceeds of the sale will be used to pay the P3.2 billion outstanding obligation of the P5-billion loan with the Japan International Cooperation Agency to fund the SRP.
That should relieve the city of its backbreaking P500 million amortization for the SRP loan each year.
If the sale pushes through, Cebu City would become debt-free. It would still have a lot to spare for building of a new and modern Cebu City Medical Center and preparations for the 2015 Asia-Pacific Economic Cooperation and International Eucharistic Congress in 2016.
But its rather inconceivable that BOPK allies, whose ordinance effectively binds the mayor’s hands from touching the SRP, are the ones who now want SRP lots sold.
BOPK allies could also make things happen.
Published in the Sun.Star Cebu newspaper on August 13, 2014.