• CHERYL G. CRUZ
The Victorias local government is planning to borrow P1.086 billion to fund various infrastructure projects, including the construction of a new city center worth P550 million.
A public hearing was held Jan. 27 on the proposed ordinance “on the borrowing of the City of Victorias in the aggregate principal amount of P1,086,000,000, to be available via six term loan releases”.
Aside from a city center, other projects up for funding as per the proposed ordinance include roads and drainage for the Sidlak Victorias Global City, worth P200 million; improvement of the Victorias City Coliseum, P162 million; construction of motorpool, P84 million; purchase of land for socialized housing project, construction of sanitary landfill, and Philippine National Police regional training center, P45 million; and purchase of vehicles for government use, P45 million.
The public hearing at the SP Session Hall was held to provide an opportunity for residents to learn about the proposed loan, its intended purpose, and its implications for the city, the Victorias Public Information Office said in a post.
Victorias Mayor Javier Miguel Benitez said at the regular flag-raising ceremony Jan. 27 that the loan will be for projects benefiting the city.
He assured constituents that city funds are being utilized solely for their welfare and that projects extending beyond local funds will be pursued through lobbying efforts.
The mayor also announced plans to acquire a dome for the public plaza to ensure uninterrupted programs and activities, rain or shine.
Benitez likewise expressed confidence in attracting more small, medium, and large businesses to Victorias in the coming years, even as he highlighted the city’s progress with its online Business One-Stop-Shop (BOSS), which streamlines the process of securing business permits.
This as the city said that, as per SP Resolution No. 2025-1553, the deadline for the payment of business taxes and regulatory fees without surcharges and penalties has been extended until Jan. 31.
“This is intended to provide taxpayers ample time to process their requirements for business applications and tax payments, and settle their obligations without surcharge and penalty,” the city said in a statement as it urged all business owners to take advantage of the extension. | CGC
