'A few more days to go' for SP say on P350 M convention center deal
Just a few more days and it would be judgment day for the P350 million deal of the Iloilo Provincial Government's planned convention center. Or so at least in as far as the 9th Iloilo Sanggunian Panlalawigan (SP) is concerned.
With questions raised on the project's viability, the SP body convening as Committee of the Whole sought to answer yet more questions -
Is the Province of Iloilo ready for the construction of a P350 million Convention Center? Is the Provincial Government capable of balancing its delivery of basic services should it incur an added loan of P350 million? Is the deal with Philippine Veterans Bank (PVB) regular and advantageous to the people? Will the arguments, eloquence and seeming charm of Capitol Financial Advisor David Buenavacz work on the 9th Sanggunian Panlalawigan (SP) the same way that it did with the 8th SP?
The News Today (TNT) learned yesterday that at least 20 sets of the report have been readied though actual committee findings and recommendations were in the care of Board Member Arthur Defensor Jr., Committee Chairman.
A pre-session will be held next week to discuss and firm up the presentation of the report however SP insiders told TNT that it is about "99%" sure that it will be included in Tuesday's regular session.
Public hearings conducted gathered key personalities involved in the project with Board Member Defensor Jr. then saying no more hearings are needed.
Iloilo's hotel and tourism industry representatives alongside government planners from the National Economic Development Authority (NEDA). Regional Director Edwin Trompeta of the Department of Tourism (DOT) also came with significant inputs as well as Trade and Industry Provincial Director Diosdado Cadena and accountants both in government and private practice.
Identifying himself as "Capitol's Financial Advisor," Buenavacz was grilled by the Board Members present who took turns in questioning the merits of his company's Feasibility Study on the P350 million project.
The findings, TNT further learned, primarily addressed this issue with sources from the banking industry saying viability of the project is the main concern.
Reached then for comment, Buenavacz shrugged off the unsatisfactory remarks of the Board Members while saying that if the body wants a "four-inch thick" report, he can very well produce the same. He also expressed "surprise" on the barrage of complaints and questions on the project.
"It should have been brought up before," Buenavacz then told TNT. "What is clear though is that Iloilo needs a Convention Center. And I do several kinds of Feasibility Studies. I guess what they (referring to the 9th SP) are used to are school feasibility studies."
Buenavacz with an associate, Bong Tandoc was at the receiving end of endless queries and adverse comments from both the Committee and other resource persons invited.
"I can't understand why Iloilo has no Convention Center," he told the Committee while clarifying that the questioned Convention Center site was "dictated to us."
"If you are going to be a pessimist, then you are barking at the wrong tree," Buenavacz said in the course of the hearing. "For me, I am an optimist."
He also pointed out how the private sector present – hoteliers in particular – have "vested interests" thus not as enthusiastic about the entire deal.
"Everything is finished – the design, the blueprint- down to the last nail," he stressed.
Defensor Jr. expressed optimism that matters will be resolved without resorting to judicial review.
"We will only go to the Court once we have exhausted the administrative level," he explained.
Should the Committee agree to disagree on the project, the multi-million deal as per contract with the PVB will be rescinded and/or recalled. Buenavacz as the Capitol Financial Advisor will also not get his over P10 million consultancy fee.
"Our basic issue here is whether it is viable and advantageous to the Provincial Government," Defensor Jr. explained. "While there is a condition in the PVB contract, such cannot also curtail the powers of the SP."