Garganera To Resign ( South Road Properties)

Former Tinago barangay captain Joel Garganera, who is now a councilman, said that he will really resign from his post if the city can sell a portion of the SRP before the year ends.

Gargagera, a staunch critic of the mayor, dared Osmeña to resign from his post if he could not sell a single lot at the SRP by the end of 2008. Likewise, he said that he would quit if there would be a sale.

With the offer of FLI, Garganera’s days as barangay councilman might be numbered as he said that he will be true to his word.

“I will stand with my words even if the mayor did not bite my challenge,” Garganera said, adding that he was happy when he heard the news that FLI will be investing in the SRP.

“Don’t get me wrong. I am happy. But before I will resign, I will personally congratulate Mayor Osmeña ug basin tingali maka-abot pa ko og Pasko sa dili pa ko mo-resign,” Garganera said.

Garganera expressed concern about the huge payments the city is making for the SRP loan.

Although he was happy with the latest development, Garganera advised the company to carefully study and be aware of the legality of the SRP.

“Ganahan pud ta motan-aw sa terms and conditions. Kung mobayad ba dayon ang Filinvest or unsa nga pamaagi, di ba? Katungod pud sab tingali nato isip lungsoranon,” Garganera added.

Last March 2007, Garganera asked the court to stop Osmeña, the city council and the CIPC from marketing or leasing the 290-hectare SRP.

He also had said that Proclamation 843, which transferred ownership of the SRP to the City, was invalid because it lacked congressional approval.

But two months later, a Cebu judge said he found no basis in Garganera’s lawsuit to issue a temporary restraining order against Cebu City’s transactions to develop the SRP.

FLI Vice President for Visayas and Mindanao Projects Tristan Las Marias said that they plan to put up hotels, condominiums, a corporate headquarters and hospitals in the 50 hectares they are proposing to develop.

Las Marias said they have already expressed intention of investing at SRP four years ago, but it the process was quite long as the city was still studying what to do about it.

Las Marias said that if their proposal will be approved, the project will be done in phases. They are planning to put up five to eight buildings once they get the nod of the city.

He said that they are targeting the international market for the project that is estimated to cost at least P80 billion.