The City Treasury Office opposed the proposal in the city council to suspend the bidding of vacated stalls at the market until the area is modernized.
City Treasurer Alex R. Cabarrubias said the suspension will result in loss of income.
Cabarrubias said there are around 70 stalls that are up for bidding.
Some councilors concurred with the position of the City Treasurer, citing the fact that full rehabilitation of the market will take years to finish. The councilors said the market rehabilitation remains on the planning stage and has not even taken off.
The City Buildings and Architecture Office programmed the completion of the modernized public market in three years with work divided into four phases.
However, the city government is still on the building design’s consultation stage and is discussing how the project will be funded.
The market rehabilitation is estimated to cost around P6 billion – funds that the city government does not have.
Cabarrubias said bidding should be pursued because if the stalls remain vacant, the projected income of the city this year will certainly be affected.
Section 158 of the Tax Ordinance states that if a stall occupant discontinues or is required to discontinue his business before the lease of the stall expires, the stall shall be considered vacant and its occupancy thereafter shall be disposed of in the manner prescribed.
In case of death or incapacity of the stallholder, his or her spouse, children, parents may apply for the same stall and shall be preferred over all other applicants.
Last year, the city council approved the master development plan of the public market subject to conditions.
Among the modes of financing suggested was through loan from government banks and accredited lending institutions, turn-key concept, joint venture and partnership with market cooperatives. – PIO release
April 26, 2024
