Wednesday, March 1, 2017

P10M good will, rentals, help Mangaldan market bldg loans

By Mortz C. Ortigoza
MANGALDAN – This burgeoning town has recouped more than one-fourth of the amortization of the P40 million loans she applies at the Land Bank of the Philippines through the good will monies and rents from stall owners.
COOPERATION. Mangaldan Mayor Bona Fe D. Parayno has a good
collaboration with Vice Mayor  Pedro “Jojo” Surdilla and most
members of the legislative body on what is good
for the burgeoning town of Mangaldan, Pangasinan.
 Fernando Saguisag "Adje" Cabrera, administrative officer 4 of the local government here, said that with 200 applicants who shoved and jostled to avail the 76 stalls in the proposed Phase II public market here, the administration of Mayor Bona Fe D. Parayno chalked-up 76 interested leasees who paid up to one hundred fifty thousand pesos good will for a lifetime lease of each of the stall they avail.
“It is P150 thousand, 76 stalls. Good will (money) estimated to be P10 million,” he cited.
Cabrera said that the business savvy of Mayor Parayno shows that an LGU could not burden the public coffer to pay for the amortization because the proposed Public Market Building Phase-II project is income generating.

In January 5 this year, the Sangguniang Bayan (legislature) under Vice Mayor Pedro Surdilla, Jr. unanimously approved the authority for Mayor Parayno to engage in the pre-selling of stalls at the Phase-II.
An excerpt of Resolution No. 2017-02 said the Phase-II is a replacement to the old market gutted by fire in 2009 to “ease the smooth transition of business transaction of the project to the businessmen who are interested to avail of stalls at the public market.”
Cabrera said that the ten million pesos good will for the trust fund would be exclusively allocated, as the ordinance mandates, for the implementation and rehabilitation of the Phase II market.
“Out source na siya. We don’t depend on the IRA (internal revenue allotment). We are income generating,” he stressed.
In the being crafted ordinance, Cabrera added, the leasee pays one thousand five hundred pesos a month for each of the stalls.
He cautions some scheming and enterprising leasees that they could not just sublease as a practice before the stall by selling the P150,000 goodwill for, say, P500, 000.
To avoid this malpractice, the leasee would surrender, as mandated by the ordinance, the Certificate of Goodwill to the local government unit.

 “The leasee should return the Certificate of Goodwill to the town hall so they could not sell them. If they want to sell their rights, they should inform the LGU who would be their buyers (of the Good Will),” Cabrera explained.

The P40 million has been part of the P100 million package approved by the LBP under the administration of then mayors Herminio Romero and Berex Abalos for this town to use in the construction of the Phases 1 and 2 of its public market.
According to Juan Garcia, the then market administrator, this first class town paid LBP an averaged of P10 million as amortization a year since 2014.
He added that Phase 1 earns more than P1 million a month from the rent of the stalls alone.
“It means kumikita ng more than P12 million a year ang Phase 1 para sa loan where the town did not subsidize it from its other sources of revenues. Ganoon din ang mangyayari sa mga meat section and others sa Phase 2 pag na aprobahan ang loan, self liquidating uli iyon. Mangaldan is doing good for its projects unlike other towns that borrowed money to build big municipal halls just to massage the ego of their elected officials and leave their taxpayers carry the burden of amortization,” another source said.

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