THE City Council has confirmed the Memorandum of Agreement by and between the City Government represented by Mayor Jed Patrick Mabilog and Panay Railways Inc. (PRI).
It is relative to the offer to lease and eventual purchase by the City Government of Iloilo a parcel of land owned by PRI located along Muelle Loney corner Ortiz St. in the city proper consisting of 2,385 square meters more or less at P10,000 per month.
PRI president/CEO Juan F. Catalan acknowledged receipt of SP Resolution 2014-381 authorizing Mabilog to sign the MOA involving the offer of the city government to lease and eventual purchase of the PRI property aIong Muelle Loney.
Mabilog is planning to include the PRI property in the proposed Iloilo City Government Complex that will include the new cityhall building, the Ker and Company property beside the cityhall.
The mayor mulls to build a new and modern covered grandstand at the property as well as rehabilitate and renovate the existing carinderias and eateries along the Muelle Loney strip.