The municipal government has entered into a tripartite compromise agreement with Baseco and the Presidential Commission on Good Government (PCGG) to get its fair share from the proceeds of real property tax worth P200 million which has been placed in an escrow account.
Mayor Angel Peliglorio Jr. said the municipal council earlier passed a resolution asking the provincial government to support Mariveles bid for cityhood.
Peliglorio, however, was a bit apprehensive about the stringent prerequisites for a municipality to attain cityhood, including an annual income of P100 million, excluding the internal revenue allotment, of which Mariveles receives about P60 million.
Peliglorio, executive vice president of the provincial mayors league, admitted that the income requirement would make it hard for Mariveles to become a city unless it gets its P140-million share from the Baseco deal.