City Hall expects FLI payment soon

CEBU, Philippines - The Cebu City government is expecting to be able to collect payment from Filinvest Land Inc. anytime soon without any hitches.

City administrator Jose Mari Poblete said he is hoping a smooth collection of payment this year from FLI on the latter’s purchase of the 10.3-hectare property at the South Road Properties.

Poblete said he is already in constant communication with the FLI officials on the matter. FLI area manager Lydwena Eco confirmed having talks with Poblete to arrange the payment which will be directly deposited to Land Bank of the Philippines.

“Yes, we’re coordinating with them right now through the office of Atty. Poblete. We just need documentation. We’re working on this,” Eco told The FREEMAN.

FLI is just asking a copy of the land title, deed of sale, and other documents from the city government to process the payment.

“We’re hoping to resolve this by next week. Of course, dependent na siya sa pag-comply nato sa documents. Ato ng gi-instruct ang atong mga tawo diri nga mu-facilitate pud sa pag-prepare sa i-turnover nato nga documents,” Poblete said.

Eco promised that once all the documents are submitted, FLI will immediately pay its obligation. Although the City Treasurer’s Office has yet to come up with the computation of the amount due, FLI is already preparing P230M for its March 2013 installment.

The FLI is paying on installment basis the P1.5 billion total cost of the property since 2009. The property bought by FLI is part of the total 50.6-hectare development under a joint venture agreement with the city government.

“We are completing a long list of checklist. Once this is done, we will pay Land Bank,” Eco assured. (FREEMAN)