Friday, October 03, 2008 (Philippines)

Cebu City Mayor Tomas Osmeña (left) and Frederick D. Go (third from left), president of Robinsons Land Corp., lead the ceremony in the turnover of the P463.5 million manager’s check representing the balance of the payment for the city-owned, 46,345 sq.-m. lot at the north reclamation project. With them are Vice Mayor Michael Rama (second from left) and City Administrator Bimbo Fernandez. (Contributed photo/Jun Mojares) MORE than two years after Cebu City Hall sold the property, Mayor Tomas Osmeña finally received from Robinsons Land Corp. the P463.5-million final payment for a north reclamation area (NRA) lot. Osmeña lambasted the Commission on Audit (COA) for the delay, and expressed fears that the agency might do the same to the proposal of Filinvest Land Inc. (FLI) to develop a 50-hectare portion of the South Road Properties (SRP). The mayor warned that any delay by COA will cost the people of Cebu City a lot. [full story]