The final payment was in accordance to the Deed of Sale on Installment agreed upon by the companies and the city government in 2015 that the payment should be completed by 2019. CDNTopStories Read more:
CEBU CITY, Philippines — Cebu City can collect a total of P16.3 billion from the sale of a 45-hectare lot at the South Road Properties if the city will open its treasury to accept the payment.
However, the payments were left untouched and consigned to the court after then Mayor Tomas Osmeña, who won in 2016, refused to accept the payments. The City Council, in their regular session on Tuesday, August 13, 2019, decided to refer the letter to the City Legal Office for its opinion on the matter, especially on how the city can regain the consigned payments for the sale.
Upon the assumption of Mayor Edgardo Labella on July 2019, however, the 15th City Council, dominated by allies of the new mayor, decided to withdraw the case so that the city can access the consigned payment of the SRP lot.
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