Baguio gives certificates for 2 multibillion projects
BAGUIO CITY — The city government of Baguio is moving closer in its bid to implement the multibillion peso redevelopment of the public market and smart urban mobility projects through the public-private partnership (PPP) scheme.
The city recently handed over the issuance of certificates to SM Prime Holdings and Metro Pacific Tollways Corp. for the market development and smart urban mobility projects, respectively.
«But the issuance of certificates does not mean the proponents can proceed with the project since it is a just start of a long process,» said Baguio City Mayor Benjamin Magalong.
In a recent public consultation, Magalong said the proposed projects, once negotiated with an issuance of certificates, will have to pass through the City Development Council (CDC) for confirmation.
The CDC has 30 days to either confirm or reject the project.
If confirmed, these projects will be forwarded to the city council for approval.
The city council has 300 days to act on the submitted projects.
AdvertisementIf the projects have been approved by the city council, the Swiss challenge will take place, where any interested third party can challenge the offer of the original proponent status holder.
SM Prime Holdings has offered to redevelop the city public market with a projected cost of over P4 billion while MPTC aims to implement the smart urban mobility project at P2.5 billion.
Earlier, thousands of vendors were assured they would not be displaced by the proposed redevelopment of the public market.
Magalong also denied public speculations that the rental fees and zoning of the proposed project will be dictated by the private company and not by the city government.
AdvertisementMagalong said the city has no financial capability to develop the new public market, saying the city government's annual executive budget is only around P2 billion.
The smart urban mobility project, meanwhile, includes a public transport fleet management system, advanced traffic management system, and smart parking. HARLEY PALANGCHAO
