FORMER Cebu Investment Promotions Center (CIPC) head, Joel Mari Yu, will be back to manage the South Road Properties.
Cebu City Mayor Tomas Osmeña said yesterday that he would hire Yu back as a consultant and as one who would manage the office of the SRP.
Osmeña said Yu would be in charge of bringing in the investors there.
The mayor said that the SRP office might not be necessarily like the CIPC, which became inactive during the administration of former Cebu City mayor Michael Rama, but it would definitely have close to the same functions.
“It will be like the CIPC, but we will not go through the motions of forming a new foundation or whatever, but the functions will be the same,” he said.
Osmeña also said that they had not yet discussed Yu’s wage or whether it would be a “peso per year” arrangement.
He, however, said that Yu was willing to work.
Aside from Yu, the mayor also assigned Nagiel Bañacia to manage the SRP.
He said Bañacia, who is also the city’s public information officer, would manage the physical aspect of the SRP.
“Actually, the one that’s basically handling the SRP is Yu, but the physical administration of SRP is Nagiel,” he said.
In a separate interview, Banacia said that he will focus on solving the drainage problem at the SRP.