The Bacolod Real Estate Development Corp. and the Bacolod City panel in the Comprehensive Revised Reclamation Agreement re-negotiation have agreed to meet on Friday to finally agree on the upward adjustment in compensation for the management and operation of the port.

Bacolod Mayor Evelio Leonardia, head of the executive-legislative panel, yesterday said he believes the city has to fast-track its negotiation with BREDCO and finish within its self-imposed deadline on March 4.

Secretary to the Mayor Roger Balo said that, during their meeting Monday, the panel submitted its proposal on the "upward adjustment" and BREDCO also submitted its counter-proposal.

Roseller Maalat, head of the BREDCO panel, proposed a P1 million a year upward adjustment, to be adjusted every five years. He said that, based on the Build-Operate-Transfer Law, BREDCO should first be allowed to recover, as it is the one that reclaimed the land and built the port. But City Legal Officer Allan Zamora said they do not agree to the use of the BOT Law, as it precludes income earning, and BREDCO is earning from the operation of the port.

Balo said the BOT Law cannot be applied since BREDCO has already sold real estate at the Reclamation Area.

The City panel proposed that the computation of compensation should be based on the gross income of BREDCO in the operations of the port.

Balo said that after they have agreed on the upward adjustment, they will discuss toll fees.

GOOD INTENTIONS

Meanwhile, Leonardia said the panel had good intentions in inviting the minority councilors to the meeting held Saturday. He said the panel is looking for a formula in coming up with the appropriate amount for the increase, or upward adjustment in rentals, which should be reasonable and fair.

"We wanted to listen to the minority so their inputs could be added to our decision-making process," Leonardia added.

The Bacolod councilors, Lyndon Caña, Dindo Ramos, Homer Bais, Greg Gasataya and Jude Thaddeus Sayson, who are against negotiation between the city and BREDCO, however, declined the invitation of the executive-legislative panel for them to join the discussion on Saturday.

DIFFERENT STAND

They said they could not participate in the discussion with the same party because their stand is to terminate the city's contractual relationship with BREDCO.

Leonardia said "We want all the officials to resolve this matter together, that is why we requested the minority to attend, as they might see an angle we do not see."

If they do not want to participate, however, there is nothing they can do, he said. But, at least, the public knows we have asked them because we wanted to listen to their views officially and in a forum where everything is discussed among peers, rather discussing things in the media.*CGS

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