Young supports P10-B budget, opposes SRP lot sales

CEBU City Vice Mayor Joy Augustus Young said he will support the P10-billion budget that Mayor Michael Rama is proposing for next year.

However, Young said he wanted to be certain that Rama would not sell lots in the South Road Properties (SRP) to raise the amount.

“I suspect that we will get P10 billion if we sell SRP lots,” Young said.

Young said selling SRP lots at this time to raise money would not be sound.

The city would not be certain how the buyer would use the lot, he said.

The city would only wait for developments to rise in the area, they could double or triple the cost of SRP lots.

“There are other ways of raising money quicker,” he said.

Young said he was certain that the mayor has not yet appropriated all of the P4.5-billion budget that the city has for this year.

Mayor Rama earlier asked department heads to consider the possibility of raising P10 billion for 2012.

He said the city needed the appropriation to implement programs like a drainage master plan, urban poor housing projects and revitalizing downtown Cebu City.

City Treasurer Ofelia Oliva said her office was prepared to look for additional fund sources for the 2012 budget.

She assured that a tax increase is not among the options. Instead they intend to conduct tax mapping and revalidation of real properties to collect the correct amount.