Home 
A REAL estate firm agreed to pay in advance taxes to be used to build infrastructure around the area where its project is located.
Filinvest land Inc (FLI) turned over yesterday P11.5 million yesterday to the Cebu City government as advance tax payment.
The tax would be used to build a drainage system, road concreting and street lighting around Filinvest's condominium project in barangay Kasambagan.
The city government will appropriate the amount to address the concerns of barangay Kasambagan residents and set up the drainage system before the firm will continue with its One Oasis project.
This is the second time that the city government has engaged in this kind of agreement with the private sector where the taxes to be paid by the firm will be used to rehabilitate the surrounding infrastructure of the firm's development projects.
In 2006, the city also entered into a memorandum of agreement with SM which paid P53.9 million. As requested by SM, the tax was paid to repair the drainage, roads, relocate some informal settlers and odor problems in their surrounding area.
The officials from barangay Kasambagan did not issue and endorse FLI's Environmental Compliance Certificate (ECC) because they feared that with the completion of the condominium project, the drainage might not be enough and flooding might be experienced in the area.
Filinvest plans to build 10 five-floor condominiums in the barangay.
The barangay officials feared that the One Oasis project might block the rainwater exit from the Cebu Country Club and might cause flooding in some areas of the barangay.
To assuage barangay officials and residents fears and to continue the project, Filinvest decided to pay in advance business, real estate, and other local taxes to the city government.
In turn, the city will construct the necessary infrastructure to avoid property damage to Kasambagan residents.
The city's Memorandum of Agreement (MOA) with Filinvest states that the city will have to issue a notice of award to the bidder who will construct the drainage and other projects in the area specified and the project shall be finished within eight months.
