City pursues land banking program

THE development of more resettlement site in the city is in the offing.

Legislators of the 18th City Council during its regular session Monday presided over by Vice Mayor Raineir Joaquin V. Uy enacted an ordinance appropriating the amount of P30.9 million to be made available for the full payment of the claim for just compensation of a lot located in Barangay Lumbia.

The amount will be taken from the city’s 2017 Annual Budget intended for the implementation of the City Shelter Plan-Acquisition of 60 hectares land at P350 per square meter.

The lot covers an area of 106,020 square meters to be used for land banking purposes.

Legislators, likewise, authorized City Mayor Oscar Moreno to sign the corresponding Deed of Absolute Sale for the purpose.

The payment of just compensation was reviewed and favorably endorsed by the committees on subdivision and landed estate, on finance, budget and appropriation and on laws and rules respectively chaired by Councilors Dometilo Acenas Jr., Edna Dahino and Ian Mark Nacaya. (JBD)