Cebu City soon to get revenue share from 3rd Mactan bridge

Cebu City soon to get revenue share from 3rd Mactan bridge

CEBU City Hall is still waiting to receive its share of revenue from the Cebu-Cordova Link Expressway Corp. (CCLEC) almost a year since the third bridge linking mainland Cebu to Mactan Island was opened to the public.

Cebu City Treasurer Mare Vae Reyes said Wednesday, March 29, 2023, that the City expects to receive its share of revenue from CCLEC after the latter settles its reportorial requirements before the Bureau of Internal Revenue (BIR).

“We will receive net of VAT (value-added tax), so we would know that after their reportorial in BIR. As of now, we haven’t received anything from them yet,” said Reyes.

CCLEC, in a statement sent to SunStar Cebu on Wednesday, said it will release to the local government units (LGUs) their revenue share not later than April 30.

Based on the joint venture agreement between the CCLEC and the two involved local government units -- Cebu City and Municipality of Cordova -- each LGU will have a one percent revenue share of the annual toll revenues, or a combined two percent.

The agreement also stipulates that the share of the two LGUs will be remitted to them annually, not later than April 30 of each year, during the concession period.

Under the agreement, the two LGUs should open their respective designated accounts where all payments to be made by CCLEC will be deposited.

Reyes said the share the City will receive from CCLEC will be under the general fund, which can be used for various expenditures included in the annual budget.

The 8.9-kilometer Cebu-Cordova Link Expressway (CCLEX) is projected to cater to around 50,000 vehicles daily.

The current toll rates in CCLEX are P90 for Class I vehicles such as cars, jeepneys, pickups, vans and motorcycles; P180 for Class II vehicles like light trucks, tourist/school and public utility buses; and P270 for Class III vehicles such as heavy and multi-axle trucks and trailers.

In a Facebook post in December 2022, Cordova Mayor Cesar Suan said he had received the Municipality’s partial share of revenue from CCLEC in the amount of P1.1 million, which he used for Christmas cash incentives for senior citizens.

Reyes, meanwhile, said she has no estimate on the amount the City will receive since there is no historical data that she can base it on.

CCLEX, which connects mainland Cebu from Cebu City to Cordova town in Mactan, opened to the public on April 30, 2022.

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