Pagtambayayong Foundation Inc. (PFI), a housing foundation for mutual aid designed for low-income groups, has decided to return 8.4 hectares of undeveloped lots to the Province of Cebu.
PFI executive director Paula Fernandez told Gov. Gwen Garcia of this important decision during a meeting held at the Capitol on Tuesday, December 5.
These lots, located in Barangay Kalunasan in Cebu City, are covered by a joint venture agreement signed during the administration of former Governor Lito Osmeña, which is honored by the administration of Governor Gwen.
Under the agreement, PFI will develop the properties owned by the Province of Cebu in Barangay Kalunasan that have an accumulated size of a little over 24 hectares. Proceeds from this development will be shared equally between the Province and the Foundation.
Of the total 24 hectares, 16.4 hectares have already been developed and utilized, while there is a remaining 8.4 hectares that are still awaiting development.
PFI, during the meeting, has expressed its inability to proceed with the development of these lots. In the coming days, the Capitol will be awaiting the formal letter by PFI stating their intention to waive their right to develop the subject properties and to return them instead to the province which has the resources to better utilize them.
Other officials present included provincial attorney Donato Villa and Jose Yuson, the Capitol’s real estate division chief. | Mary Ann Malaya