The proposed arcade is designed to house some 70 stalls in a 2,908 square meter area allotted for the building.
Town Mayor Maria Luisa De La Romualdo said this project is among her priorities as this is seen to create job opportunities and at the same time generate additional revenues for the town.
Gilbert Grado, Mambajao Municipal accountant meanwhile said the mayor has now formed a technical working group to oversee the implementation in all phases of the project.
The technical working, he noted, is well represented by other key agencies and stakeholders as this will also help in ensuring transparency.
“We are really careful on this, even if it is on its early phase, because PPP projects normally requires different processes, in fact, we are set to undergo a training on how to go about it soon,” he added.
Engineer Leonides G. Oclarit, Chief of the Mambajao municipal planning office likewise confirmed that a number of investors have shown interest on funding the arcade project and are proposing to fund other PPP projects.
Currently, the LGU will also inaugurate this month one of the building they constructed within the area, which is in the heart of the poblacion fronting the public market along Placido Reyes Street.
The new building will be rented by the Land of the Philippine (LBP) Mambajao Branch, together with other government agencies who will also occupy the second floor. (PIA 10)