Mayor Jed Patrick Mabilog has asked the Commission on Audit (COA) to adjust and lower its recommended lot price of the city-owned 6.7 hectares land located at Brgy. Ungka 2 in Pavia, Iloilo.
Mabilog admitted there are no bidders since last year to purchase the land pegged at P3,700 per square meter after the city government decided to sell the lot property. The city had also rescinded the contract of Ace Builders and Enterprises after the contractor abandoned the housing project several years ago.
The lot was intended for a housing project of cityhall employees worth P130 million through a bond flotation in 1998. However, the project stopped and the city government has to recoup its initial investment by selling the land.
The city mayor said the recommended lot price is P2,600 per square meter as cost of the property and additional percentage of 20 percent. Two potential bidders have already shown interest and waiting for the COA approval of the lot price. By Lydia C. Pendon
