TACLOBAN CITY – The Leyte provincial board recently approved an ordinance granting an authority to the city of Baybay to loan P 250 million to finance the construction of its new city hall.
Vice Governor Carlo Loreto said they unanimously approved the ordinance granting authority to City Mayor Carmen Cari to enter into a term loan with the Development Bank of the Philippines (DBP).
The terms and conditions of the ordinance were further ratified to include the P 250 million loan amount and the accrued interests will be paid within a 15-year period or in 144 months in equal monthly installments.
The construction of the new city hall is certified to be a local infrastructure and socio-economic development in accordance with the approved local development plan and public investment program for this fiscal year.
The proposed loan will partially fund the four-story structure project which is estimated to cost a total of P400 million.
Cari, in an earlier interview, said the new building is set to accommodate Baybay’s growing offices and departments in dispensing for the needed services for the people.
The new city hall building will rise along the city’s new diversion road where some new government facilities are now located. It will have a floor area of 42,000 square meters, with elevator and wider parking space. It will also house the local legislative building.
The existing city hall being occupied presently is an old one and has been seat of the local government prior to its cityhood in 2009. It saw some renovations and upgrading in 2013.
This old city hall located along Ramon Magsaysay Avenue will not be demolished as it will be leased by the city trial court, it was learned.