Nalzaro: Capitol’s revenge (South Road Properties)

Bobby Nalzaro's column in Sunstar
Bobby Nalzaro

I AGREE with Mayor-on-leave Tomas Osmeña that nobody, not even the Provincial Government, can dictate Cebu City Hall on what to do with the South Road Properties (SRP). The mayor issued this statement in reaction to Rep. Pablo John Garcia’s view that Filinvest’s offer to the City is illegal and disadvantageous to the government.

Gov. Gwen Garcia’s younger brother said the purchase of 10 hectares of SRP lots should be done through competitive bidding and not a Swiss challenge. And to be fair, the City should separate the purchase from the joint venture to develop 40 hectares of SRP lots.

Garcia, being a bar topnotcher, may have some basis to his claim. But as far as Tomas is concerned, he doesn't care whether the Filinvest offer is disadvantageous to the City or not so long as he can raise revenues from the sale. I am sure that when the offer was reviewed, City Hall lawyers studied its possible legal complications

Filinvest is not also foolish to enter into a transaction with the City Government if it is illegal. The firm, a leader in land developing, is protecting the image and prestige of the company. It will not engage in illegal and questionable transactions.

I already wrote in a previous column that Capitol’s announcement that it would challenge the unsolicited proposal of Filinvest is questionable. I now think Capitol is not really serious in its offer. What will it do with the lot? And of all the SRP lots, why is it interested in those coveted by Filinvest?

Capitol’s motive is revenge. It has something to do with the city's decision to prohibit Capitol from developing its Ciudad project in Banilad.

By challenging Filinvest’s proposal, Capitol can already legally intervene even if it loses in the bidding. It acquires legal personality to go to the court and raise legal questions. If it won’t participate in the bidding, it has no basis to go to court questioning the deal.

I am sure the legal issues now raised by Rep. Garcia will be the same issues that will be raised by Capitol in court. And if there is a pending case, the implementation of the project will be delayed. Worse, Filinvest might withdraw because of some legal hassle.

And if the project is delayed or Filinvest withdraws, the City Government cannot raise revenues. Mapurnada ang income ug commission ni Tomas, kun duna man. Panglawgaw ra gyod nang ila. Ila lang palaguton si Tomas.