THE City Council committee on finance, budget and appropriations headed by Councilor Edna Dahino recently conducted an ocular inspection of two properties located in Barangay San Simon.
Together with Dahino were the lot owners and representatives from the City Housing and Urban Development Department (CHUDD), City Legal Office, City Assessor’s Office and City Planning and Development Office (CPDO).
It may be recalled that two weeks ago, the committee tackled the request for the full payment of just compensation of the subject lots amounting to P17.5 million.
The owners agreed to sell their properties to the city government at P230 per square meter.
Based on the Appraisal Report of the City Appraisal Committee, the derivation or source of the appraised value was from the average value between the two sales data, the present value of the government project and the offer to sell.
The properties, with a total area of 70,191 square meters, are intended for the city’s resettlement site/land banking project.
Immediately after the inspection, the committee referred the matter to the City Engineer’s Office (CEO) for the identification of buildable and non-buildable areas. (sp)