CEBU, Philippines — Cebu Governor Gwendolyn “Gwen” Garcia wants to develop the property where the famous “larsian,” the long smoky strip of barbecue stalls, sits.
Garcia said the Capitol is open for a Build–Operate–Transfer (BOT) arrangement.
She said it would be up to the developer whether or not to continue the larsian, which is just a stone's throw away from Fuente Osmeña Rotunda. Larsian is open 24 hours daily and business peaks at night.
“That will be up to the developer. We will not put that as a condition,” she said.
If developed, Garcia said, the value of property will increase.
“We are looking at again increasing the value of the property without disposing or selling it,” the governor said.
Republic Act No. 7718, which amended BOT Law, defines BOT scheme as a “contractual agreement whereby the project proponent undertakes the construction, including the financing, of a given facility, and the operation and maintenance thereof.
It states further that the project proponent operates the facility over a fixed term during which it is allowed to charge facility users appropriate tolls, fees, rentals, and charges not exceeding these proposed in its bid or as negotiated and incorporated in the contract to enable the proponent to recover its investment, and operating and maintenance expenses in the projects .
It adds that the project proponent transfers the facility to the government agency concerned at the end fo the fixed term which shall not exceed 50 years. KQD (FREEMAN)