DBP offers to finance new city hall parking lot

ILOILO CITY, July 30 (PNA) – The Development Bank of the Philippines (DBP) has offered to finance the purchase of an adjacent lot of the new city hall currently under construction in front of Plaza Libertad here

City Mayor Jed Patrick Mabilog said that DBP officials came to his office today to submit the offer of P35 million loan facility for the purchase of some 3,000-square meter lot owned by British firm Kerr and Co. at seven percent interest rate per annum.

The British firm has since abandoned the property and offered to sell to the city government at P11,000 per square meter.

Mabilog said the city council has already approved his request for a new design of the city hall project, particularly the third floor earlier earmarked as parking space for city government vehicles.

He said the third floor will be used as offices of the city and reserved as office space of new city officials should the city be redistricted into two congressional districts.

Mabilog said that he just wants an open space beside the new city hall that doubles as a parking space for city government vehicles and those of visitors.

Construction of the new city hall costs P450 million with loans from the Landbank of the Philippines. (PNA)
FFC/AJP/LCP