The Bacolod Working Committee has requested the Bacolod Real Estate Development Corporation panel to submit the financial statement of the Top Harbor International Inc.

Bacolod Mayor Evelio Leonardia said this will serve as basis for setting the new rent due and payable to Bacolod City.

During the Comprehensive Revised Reclamation Agreement Renegotiation held yesterday at the Executive Inn, the negotiators said that, because THII, an affiliate of BREDCO, is the one operating the port, its income from port operations should be taken into consideration, a press release from City Hall said.

Presently, BREDCO pays the city P800,000 annually as rent for operating the port. The working committee believes that the amount is no longer applicable and should therefore be subject to upward adjustment.

City Legal Officer Allan Zamora said the rental should increase in time to make it viable. The P800,000 rent was agreed upon under the previous administration, he said.

Secretary to the Mayor Roger Balo, who is also vice chairman of the CRRA Renegotiating team, said that the P800,000 rent was agreed on in 1995 and should be increased to give it the time-value of money.

The CRRA renegotiation meeting yesterday was attended by representatives from the executive branch led by Leonardia, four from the Sangguniang Panlungsod, and four BREDCO executives.* CGS

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