NEGROS Occidental Vice Governor Eugenio Jose Lacson said he will raise some information during the committee hearing Wednesday, September 12, on the P900 million construction of the new Provincial Administration Center (PAC) building.
The Provincial Government had earlier allocated P486 million for the rehabilitation of PAC.
He said the Provincial Council will ask the provincial treasurer about the project during the committee hearing and that he will also ask to show them the plans for the PAC.
"I will also ask the treasurer what it will be now if we include this new loan of P1.2 billion, what will be the outstanding loan of the province and how much amortization will be paid every year," Lacson said.
He said the Provincial Government needs PAC and that the province is planning to construct a new PAC building that would cost P900 million including its furniture.
Lacson pointed out that once the bank approves the loan of a local government unit, the capacity to pay is not a question anymore.
Meanwhile, Governor Alfredo Marañon Jr. and Ricardo Yanson, Jr., president of Dynamic Builders and Construction Co. (DBCC) had signed a Public-Private Partnership for the People (P4) Agreement for the lease of 6,485 square meter-lot in Aguinaldo Street in Bacolod City on Monday, September 10.
Lacson and lawyer Mitchelle Abella of the DBCC signed as witnesses of the said agreement.
The purpose of the lease is for commercial and mixed-use; a 10-storey building to be used as a mall, BPO, offices, and hotel, with basement parking and any other related use.
DBCC also turned over a symbolic check worth P26.5 million representing the two-year advance rent and security deposit.
As stated in the agreement, the term of the lease for the property is 50 years with an option to renew upon expiration subject to acceptable terms and conditions mutually agreed upon.
Marañon said the event marks the beginning of a remarkable and long-term partnership with the private sector in terms of business development. (with reports from PR)