Wednesday, January 14, 2009 Nalzaro: 'I told you so' By Bobby Nalzaro Saksi
I TOLD you so.” This was what veteran journalist Johnny Mercado said years after he warned Cebu City officials against developing the South Road Properties (SRP), as it will just turn into a “white elephant.”
Mercado’s warning became true because, as of this time, the 300-hectare multi-billion peso project remains idle. Only a titled portion is being developed but only through lease agreement.
I will borrow Sir Johnny’s words in relation to the theory that I wrote in this column last Dec. 3. In that column, I described as suspicious and questionable the Provincial Government's act of challenging the unsolicited proposal of Filinvest Inc. to develop 50 hectares of SRP lots (40 hectares through joint venture with the City Government and 10 hectares through outright sale).
I said the motive for the move was revenge and that it had something to do with City Hall's decision to prohibit Capitol from developing its Ciudad project in Banilad.
By challenging Filinvest's proposal, Capitol can already legally intervene if it loses in the bidding because it would have acquired a legal personality to go to court against the deal.
Once there is a pending case, the implementation of the project will be delayed. Worse, Filinvest might withdraw from the deal because of the legal hassle.
I now think my theory is correct, this after City Hall's Joint Venture Selection Committee denied Capitol's appeal for the committee to reconsider its decision that declared the Provincial Government ineligible to bid.
The committee rejected Capitol's bid because it is neither a private entity nor a corporation and it has no track record, financial capability and technical expertise to undertake the P25-billion joint venture.
As a result, Cebu 3rd district Rep. Pablo John Garcia, younger brother of Gov. Gwen Garcia, said that he is already toying with the idea of going to court on the issue.
Rep. Garcia said he and Capitol's legal team will review the guidelines of the joint venture ordinance. After the review, they could bring the matter to court. They might ask for a temporary restraining order or an injunction.
If there is an injunction City Hall and Filinvest cannot commence with the project. Maabtan na silag siyam-siyam.
