Eight prospects for the completion of the Sibulan Public Market are considered as the Department of Finance embarks on an on-site inspection of the project and a close evaluation of the borrowing capacity of the municipal government, starting this month.

Sibulan has, so far, spent almost P6.66-million on the project. The council has authorized Mayor Antonio Renacia to borrow 70 percent of the total cost of the project and to provide the 20 percent equity.

The evaluation was undertaken following the submission of the LGU's letter of intent signed by the Sibulan officials affirming the interest of the LGU to apply, negotiate and participate in the project to borrow funds from the Municipal Development Fund Office, and undertake other necessary acts for the construction of the public market building.

The new market will have a second storey structure and stalls for dry goods, carenderias, meat, fish and vegetables sections. It is also expected to help increase the economic growth and uplift the living condition of the community.*RG

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