Osmeña made the statement to justify why he, with the City Council's approval, only offered close to P30 per square meter for lot rentals to Bigfoot Global Solutions. Bigfoot is renting two hectares of lots beside SRP's Pond A.
The officials of Bigfoot Global Solutions had already signed a memorandum of agreement with the Cebu City government in relation to its plan of building a giant international movie studio at the SRP.
When asked how many local workers may be hired by Bigfoot, the mayor did not give a categorical answer. But Bigfoot has planned to lease 12 more hectares of SRP lots.
According to Osmeña, Bigfoot has already made an advance payment of their rentals for five years in the amount of P28 million.
Osmeña said if other companies would also signify its intention to lease properties at the SRP, he will also give them a similar privilege if their projects would generate employment.
At a monthly lease rate of 40 centavos per square meter, the city would earn about P400,000 a month or nearly P5 million a year for the two-hectare lots.
The lot would be used by Bigfoot for a state-of-the-art movie studio with four sound stages.
Osmeña said, aside from Bigfoot, other companies such as SM Prime Holdings Inc. had also expressed interest in the SRP. - Rene U. Borromeo/MEEV