COA upholds Waterfront land swap deal
THE Commission on Audit (COA) en banc upheld Cebu City Hall’s land swap deal with Felix Gochan and Sons Realty Corp. for Lot 917 or the Waterfront lot along Salinas Drive.
Cebu City officials welcomed the COA’s reversal of its previous decision voiding the deal.
They said this would enable the city to sell the Waterfront lot to Hotel Asia Inc. which paid P46 million of the P83 million-priced property through bidding.
“We are happy with that. There are no more questions as to whether we can sell the property or not. There is no more legal impediment,” said City Legal Officer Jerone Castillo.
The decision signed by COA commissioner officer-in-charge Heidi Mendoza granted the motion for reconsideration filed by the city government last year.
In its June decision last year, the COA voided the land swap deal between City Hall and the Gochan realty firm for properties in Banawa and Lorega.
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