An official of the Development Bank of the Philippines in Malaybalay City confirmed the city government's application for a P300 million loan.
Potestas said City Hall plans to construct a three-storey replacement building.
He said the future central public market will house the wet market on the ground
floor, the dry market on the second floor, and a food court and sports and
recreation amenities on the third floor. He said the structure will also include
an indoor park for the public's relaxation.He said they also want to develop the
old terminal and the rehabilitation of the Farmers' Market, which serves as the
city's public market for now.
Potestas also cited initiatives of the city government to avail of special projects from the national government and the Priority Development Assistance Projects of senators and other officials.He said they sent out letters to the offices of senators Manuel Villar and Miriam Santiago and also from the Department of Interior and Local Government.He said the Office of the President could possibly hand in at least P50 million to augment the loan for the public market.
He said they are also working on the documentary requirements to claim the P20 million building insurance of the ill-fated public market.
As an add-on to rebuild the public market, they also plan to build skywalks to connect the public market with department store Gaisano Valencia and other key points in market site.
The add-ons are not included in the loan budget.