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P1.2-B intermodal terminal project pushed in Baguio City

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Baguio City News

The Baguio City government began soliciting inputs from the public to be possibly incorporated in the terms for negotiations with the proponent for the construction of the P1.2 billion intermodal terminal within portions of the property ceded to the city by Department of Agriculture in 2018.

BAGUIO CITY—

The proponent will operate the terminal for a 40-year period where it will be paying the agreed lease rentals to the local government while the agriculture department will be getting a rental share of 20 percent from the lease rentals that will be paid to the city. After both parties have agreed on the terms, the proposed project shall be submitted to the City Development Council for approval and subsequently to the local legislative body which will have some 120 days to either approve or reject the said proposal.

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Source: Real Estate Daily Report (realestatedailyreport.net)

Department Of Agriculture Megawide

 

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