SP authorizes Mayor Uy to sign MOA, DOS for new City Hall site

THE 20th City Council, in its regular session Monday presided over by Presiding Officer Pre Tempore Romeo V. Calizo, enacted separate ordinances authorizing City Mayor Rolando A. Uy to enter into and sign the Memorandum of Agreement (MOA) and Deed of Absolute Sale (DOS) covering the sale and transfer to the city government of the lot in Barangays Canitoan and Carmen as the proposed site of the new City Hall Complex and Cagayan de Oro Government Center and Eco-Tourism Site.

Under the MOA, the owners of the property agree to sell and transfer to the city government the subject property at a negotiated price, 50% or P744,389,750 of which shall be paid upon signing of the Deed of Sale and completion of requirements such as turnover of the owner’s duplicate copy of the title including the cancellation, if any, of prior mortgages therein, tax declaration, and tax receipt/clearance. The 50% balance shall be paid to the owner upon the transfer and issuance of the title of the subject property in the name of the City Government of Cagayan de Oro.

Moreover, the owners will undertake the processing of the necessary documentation for the acquisition of the subject property and the consequent transfer of its title in the name of the city government, among others.

For its part, the City Government agrees to prepare and shoulder the payments of documentary stamp tax, transfer fees, registration fees, LRF fees, entry fees, annotation fees, and other related fees.

The subject property has a fair market value of ₱6,500 per square meter, as determined by the City Appraisal Committee. With an area of 229,043 square meters, the negotiated price of said property amounts to P1,488,779,500.00, The Gavel learned.

Certified urgent by City Mayor Rolando A. Uy, the legislations was approved by majority vote of the City Council.