Filinvest, Capitol set to ink lot deal on Friday

THE Capitol will enter into a contract agreement with Filinvest Land Inc. on Friday.

Cebu Gov. Gwendolyn Garcia said yesterday that she would be signing the contract with Filinvest to start on the development of the 1.2-hectare lot where the Bagong Buhay Rehabilitation Center (BBRC) facility was formerly located in barangay Lahug, Cebu City.

Capitol has given the notice of award to Filinvest.

Garcia said Filinvest would start paying the province P50 per square meter on the lot, 60 days after the contract signing.

Garcia said they were looking at P600,000 as a monthly rental.

The development of the province-owned property will be under a build-operate-transfer scheme between the Cebu provincial government and Filinvest, where the ownership of the lot will stay with the provincial government.

Last Monday, the Cebu Provincial Board also approved the resolution authorizing Garcia to sign the Build, Transfer and Operate Agreement.

Last month, Filinvest Development Corp. won the bid for the development of a 10-story building that would soon rise at the site of the former BBRC and the Cebu City Treatment and Rehabilitation Center (CCTRC).

BBRC has long been abandoned after the province built a new, modern jail in barangay Kalunasan. The CCTRC remains unoccupied up to this time./Correspondent Carmel Loise Matus