Inquirer Southern Luzon
Naga needs P155 million for its coliseum
By Jonas Cabiles Soltes
Philippine Daily Inquirer
First Posted 00:36:00 11/13/2008
Filed Under: Regional authorities
NAGA CITY – Naga City needs P155 million for its coliseum, which has remained unfinished for 11 years, city planning and development officer Wilfredo Prilles Jr. said.
The 10,000-seat coliseum is within the central business district, near the soon-to-open SM City Naga, the first in the Bicol region.
Started in 1997, the construction of the coliseum has been halted by Typhoons “Milenyo” and “Reming,” which twisted and rendered unusable its roof trusses, and by lack of funds.
The coliseum should be on its last phase of construction, which requires roofing and finishing touches. Other facilities such as sound and electricity generation system and a circumferential road would also be put up, Prilles said.
He said it was time for the city to have its own coliseum to sustain its booming economy.
The Metro Naga Chamber of Commerce and Industry, the Naga City People’s Council, and other business and civic organizations are willing to borrow money to complete the construction.
During the May 12 meeting of the Naga City Development Council, hotel and department store owner Roberto Obiedo said completing the coliseum was for the higher interest of the city and its residents.
“I go for it even if it competes with my hotel business,” he said, referring to the ongoing expansion and rehabilitation of his Villa Caceres Hotel that includes a large convention hall that could fit bigger seminars and conferences that the coliseum, once completed, can also handle.
A bank manager said Lucena City in Quezon province has its own coliseum that has made it an ideal venue for conventions and other large events.
Prilles said although it would not automatically produce substantial income within the first years of its completion, the coliseum could earn enough to pay for the cost of its construction, including payment for possible bank loan and interest.
The city government is open to a build-operate-transfer scheme for the project in case private groups are interested in handling its full development.
Naga City Mayor Jesse Robredo sought the approval of the city council for him to enter into a loan agreement with a government bank that offered the most agreeable loan conditions to cover the P155 million needed.
|
