Friday, September 4, 2009 [ sunstar.com.ph ]
By Lydia C. Pendon
ILOILO City Council has confirmed the loan of P105 million with the Land Bank of the Philippines as additional amount for the construction of new City Hall building.
In an open session last Wednesday, Councilor Jose Espinosa III, chairman of the council committee on appropriations, said the amount, which was contracted by the City Government and Mayor Jerry P. Treñas, would be added to the previous P350-million loan from the same bank, which was contracted late last year.
It will also be used to cover up the estimated amount of P450 million as construction cost of the new seven-storey building at the old City Hall site of the city-owned lot fronting Plaza Libertad.
The loan agreement under local government unit (LGU) loans was entered into by and between the bank as "lender" and the City Government of Iloilo as "borrower" with an interest rate of some seven percent per annum.
City legal officer Edgar Gil said the City Council confirmation will pave the way for the publication of bidding in national newspapers and electronic bidding slated before the end of this month.
The publication and eventual award and notice to winning contractor is estimated to be more than two months and after that, the construction will start immediately.
Gil said the new City Hall design was made by the W. Coscolluela and Associates based in Metro Manila that shows off and incorporates some heritage structures in the city, such the Customs House, Masonic Temple, University of the Philippines and the old City Hall.
The new building will house all the City Hall offices under one roof, which will also include one floor as parking area, a canteen and other amenities.
The groundbreaking is expected before the end this year, possibly in late November or early December. The construction is slated for 18 months.
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