Distrito: The city will receive compensation

By Paulo Loreto Lim

The Bacolod City Sangguniang Panlungsod (SP) approved during their regular session earlier this week a proposed memorandum of agreement extending a contract allowing the Bacolod Real Estate Development Corporation (Bredco) to continue operating a port in the city for another 25 years.

The two parties agreed to a P6 million compensation amount for the city.

City Councilor Caesar Distrito pointed out the final amount was “an 800 percent increase” on Bredco’s initial proposal of P800,000.

“The City spent nothing on [the port],” the city councilor said. “In this case, there [was] no loan or government funds used, instead, the city will even earn and get compensation.”

In addition, the agreement entitles the city to an upward adjustment of around P48,000.

Meanwhile, Bredco vowed to make the port a “world class facility.”/PLL, WDJ