Iloilo City eyes pact for market redevelopment-A A +A
Thursday, July 17, 2014
THE Iloilo City Government is eyeing a joint venture agreement with an unnamed bidder for the city’s central market construction.
City Mayor Jed Patrick Mabilog made the announcement during a dialogue with market vendors on Tuesday, July 15. The sentiments of the vendors will be included in the final draft of the Term of Reference (TOR).
He said the joint agreement on central market revitalization will bring cooperation and attract more investors to Iloilo City.
The mayor will see another batch of central market vendors on July 21 at the new City Hall to discuss with them the TOR and solicit their ideas before submitting the final draft to the City Council for approval.
The central market project is part of the central business district’s redevelopment.
Under the provisions of the revised TOR, the winning bidder will operate the second up to the fifth floors of the market, while the City Government will manage the ground floor to guarantee legal occupancy of the space to more than 1,000 qualified stallholders and vendors.