Mabilog eyeing BOT scheme in property, markets projects
The build-operate-transfer (BOT) scheme will play a very significant role in the implementation of various projects in Iloilo City.
Mayor Jed Patrick Mabilog has expressed willingness to adopt the BOT scheme for the development of the city-owned lot in Brgy. San Pedro in Molo and rehabilitation of markets.
A portion of the city-owned lot is being utilized for the city college and the proposed building for the alternative learning system of the Department of Education.
Mabilog said the BOT scheme can also be used for the establishment of a sports and convention center in the area.
Meantime, Mabilog said there will be more income for the city if the markets will be more enterprising.
The markets belong under the local economic enterprise department, which is expected to “be the ones making money for the city.”
However, when computed it was found out that the city “is spending about P50 million for market infrastructure, drainage, repair of roof and power.
The mayor said hat considering that all city markets are situated in the prime area, then they can be converted into buildings and “lease them to call centers and other interested businessmen who wanted to hold business in the local area.”
The move will not only earn the city income but jobs for more city residents, he said, adding that it will also help decongest the city thus, contributing to the reduction of carbon emission.
Under the BOT scheme, the investor can use the building for 30 years and return it to the government after.*PNA
