The Bacolod Sangguniang Panlungsod adopted the committee report on the proposed SM Prime Holdings Inc. lease of 16,875 square meters of property owned by the Bacolod City government where the Manokan Country, Vendors Plaza and Bacolod Arts Youth and Sports Center are located during its regular session on Wednesday, October 11.
Councilor Al Victor Espino, SP Committee on Laws, Ordinances and Good Government chairman, said a resolution seeking the granting of authority for the mayor to sign the lease agreement will be submitted in the next SP session on October 18.
SM Prime Holdings presented its about P4 billion development plan for the Manokan Country and adjacent properties at a joint hearing of the SP committees on Laws, Ordinances and Good Government, Transportation and Traffic, and Markets on Tuesday.
The SP on Wednesday also ratified the deed of sale of the 74-hectare Ledesma property at Barangay Granada to the Bacolod City government, Espino said.
The property, which cost P940 million, will be used for housing and other purposes, Espino said.*