Just payment to lot owners up for review

THE City Council committee on finance, budget and appropriations chaired by Councilor Edna M. Dahino is set to discuss the request for the appropriation of P2,614,104 representing the full payment of just compensation including registration expenses of a property located in Barangay Lapasan.

The said lot, with an area of 6,407 square meters, was affected by the JR Borja Extension Road opening and concreting project. As reflected in the appraisal report submitted by the City Appraisal Committee, the derivation or source of the appraised value was adopted from the appraisal of same government project adjacent to the subject lot.

Likewise, to be tackled is the resolution recommending favorable approval for the appropriation of P889,297.74 for the full payment of just compensation including registration expenses of a property located in Barangay Bulua.

The 746 square meter lot was affected by the concrete paving of road at Zone 2, Lower Bulua to Sunflower Street of the same barangay. Based on the Appraisal Report, the derivation or source of the appraised value was from the average value between the Schedule of Market Values, BIR Zonal Value and the average value of the Sales Data. (JAO)