LBP proposal to use city property needs SP approval
Mayor Jerry Treñas will refer to the Sangguniang Panglungsod the proposal of the Land Bank of the Philippines (LBP) to forge a usufruct agreement for the use of the city government property in front of the Jaro police station.
Treñas said the agreement needs confirmation from the city council.
Treñas said LBP wishes to construct its main branch in the said property through a usufruct agreement for 25 years. In return, the bank will institute repair of the nearby Jaro fire station and health center. The bank will also do the landscaping.
The property being targeted by the bank is considered as commercial area. It is accessible to bank clients especially those coming from the northern and central towns of Iloilo.
It depends on the city council to approve or deny the proposal of the bank for a usufruct agreement. The city council has to give the chief executive a go signal to sign the usufruct agreement in behalf of the city government by approving a resolution, said Treñas.
The city council has to assess whether the usufruct agreement is beneficial to the people or not. The proposal needs to be deliberated by the legislative council, said Treñas.