Ordinance 'needed' to sell SRP lots

Cebu City Mayor Tomas Osmeña told the City Council that an ordinance is needed before the City Government can sell three hectares of the South Road Properties (SRP).

Osmeña appeared before the council yesterday during the public hearing of the proposed ordinance of Councilor Nendell Hanz Abella that will amend City Ordinance 2332, which authorizes the sale of SRP lots.

But the mayor said that the Department of Interior and Local Government does not allow this.

Earlier, Councilor Raymond Garcia argued that there was no need to pass an ordinance since a resolution would suffice.

"There is no question as to the legality as far as this is con- cerned, but we have to take into consideration that we're asking a buyer to pay P3 billion. Who is in his right mind will come out with P3 billion but the sale might be invalid? If we sell the property, it should be unquestionably legal," Osmeña said.

The public hearing had no other speaker.

If the sale will push through, it is expected to generate around P3.3 billion for the City.

The parcels subject for sale are two lot areas in Pond F: Lot 1-F-8-A with an area of 25,769 square meters and Lot 1-H-1 with an area or 3,349 square meters.

The City will sell the lots at P110,000 per square meter.

Abella said buyers may pay in full or in two installments, which should be at least 50 percent, upon the signing of sale documents pursuant to the public auction, and the remaining half upon the approval of the Commission on Audit. /