THE development of the 15-hectare portion of the Bantayan Park at Barangay Poblacion in Bago City is open to investors, Mayor Nicholas Yulo said Monday, February 19.
Yulo, at the sidelines of the city’s 52nd Charter Anniversary culmination, said the City Government is now drafting proposals to be present to any private developer.
He said the idea is for the investor to develop the whole 15 hectares, and then a portion of it will be granted to them for commercial operation.
“We hope to tap an interested developer this year,” the mayor said, adding that the city is now working on completing the parameters as well as “negotiable terms” to be presented to potential investors.
In 2017, the City Government acquired ownership over portions of the 22-hectare property from the Department of Environment and Natural Resources. The remaining seven hectares are still pending for application.
As part of the urbanization plan, the City Government tapped students and teachers of La Consolacion College-Bacolod for the creation of a development plan.
Yulo said that out of the proposals submitted last year, they were able to identify the “winning” development masterplan.
He said the development with an indicative cost of at least P1 billion includes commercial and open spaces, playground, permanent structures for 24 barangay booths, and small fish landing port and market, among others.
The park hosts various major events of the city, including the agro-industrial, cultural, educational, and tourism fairs during its charter anniversary and Al Cinco de Noviembre celebration every February and November, respectively.
“Once developed, Bantayan Park will further attract tourists and become a new commercial growth area of the city,” Yulo said, adding that they now have limited area for commercial development since the public market is already fully occupied.