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CFI to Cebu City government: Give us chance to develop Carbon Market

By: Delta Dyrecka Letigio - CDN Digital | October 21,2020 - 03:13 PM

CFI develop market

The proposed modernization for the Carbon Market by the CFI Community Cooperative.

CEBU CITY, Philippines—The CFI Community Cooperative is asking the Cebu City government to give them a chance to develop the Carbon Market.

Lawyer Winston Garcia, the CFI chairperson, said they want to present a counterproposal to the unsolicited proposal of Megawide Construction Corporation for the Carbon Market, which will preserve the integrity historical value of the place, especially for the Freedom Park. 

Read: Construction giant wants to renovate, restore Compania Maritima, Freedom Park

The CFI is proposing a P3.5 billion development that would keep the properties under the ownership of the Cebu City government with profit sharing mechanism. 

It will involve a five phases construction, including the construction of a social housing for the 700 families in the area, the construction of a transportation hub, hotel, park, and the actual modern market place. 

Designer, Rebecca Plaza, who presented the plans to the media, said they will source the materials for the construction and design locally, and they will ensure that while the construction will take two years to complete, the vendors will have an alternative area to still sell. 

“The Carbon Market is highly underutilized and there ia so much potential for livelihood in that space,” said Plaza. 

‘Heart of Cebu’

For the Freedom Park, the CFI plans to rehabilitate the area and put up a terminal park aside from a market for people to go to. 

Plaza said the seaside park will become the new feature for the “heart of Cebu.”

Garcia said they have already acquired the support of the Landbank of the Philippines (LBP) to fund the multibillion project. 

However, they found it difficult to present the counterproposal because the city government has not provided them the Joint Venture Agreement proposed by Megawide to the city government. 

Read: Labella: SM to fund construction of a modern Carbon Public Market

The CFI complained that they were only given 10 days to challenge the JVA, and that the time period was simply not enough. 

They are hoping that upon presenting their proposal to the City Council on October 21, 2020, they will be given a fair chance to challenge the proposal of Megawide and in turn “provide a fair chance” for Cebuanos who will benefit from the development. 


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TAGS: Cebu City, develop, market

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