CEBU CITY, Sept. 8 (PNA) — The Cebu Provincial Government will have to review the market rate of its lots in Cebu City occupied by some 5,000 families to see if these are worth more than PHP500 million, said Cebu Governor Hilario Davide III.
The Cebu City government earlier offered to buy these lots for PHP500 million to give the land to the occupants.
Davide said he and Capitol officials will conduct a workshop on how to resolve the long-running issue on lot ownership of city residents covered by the 93-1 ordinance.
Members of the Cebu Provincial Board (PB), the technical working group on provincial properties and Cebu Vice Governor Agnes Magpale will also attend the activity, which will also discuss the new homeowners’ association that came out and the land-swap deal, among others.
Davide said the land swap deal is one of the options because he supported it when he was still a member of the Cebu City Council.
Rama sent Davide a letter with a copy of the memorandum of agreement (MOA) about the offer more than a week ago.
Based on the MOA, about 51 hectares are covered by the 93-1 lots.
Based on the estimates of Cebu PB Member Alex Binghay, former chairman of the committee on provincial properties, the worth of these lots is closer to PHP2 billion. (PNA)