FATHER AND SON. Tourism Infrastructure and Enterprise Zone Authority (TIEZA) chief operating officer Mark Lapid and his father, Sen. Lito Lapid, pose with the tokens from the city government given on Monday (Oct. 9, 2023) during the awarding of cash aid funded by the office of Sen. Lapid for 533 individuals. The younger Lapid said TIEZA remains committed to helping in the rehabilitation of Burnham Park. Before the pandemic hit, TIEZA’s Board approved a PHP400-million funding for the rehabilitation of one of Baguio City’s tourism spot. (PNA photo by Liza T. Agoot)
BAGUIO CITY – The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) can give at least PHP100 million as initial fund for the rehabilitation of Burnham Park, 25 percent of the P400 million fund that was approved by the TIEZA Board pre-pandemic.
TIEZA chief operating officer Mark Lapid, in an interview on Monday, said the agency was not able to immediately provide the funds because of the pandemic and the funding needs that it entailed to the government.
“We will start implementing as soon as we get our funds,” he said.
Lapid said they have agreed with the city government to prioritize parts of the rehabilitation plan so that whatever part of the project that will be completed can “already be used.”
“We do not want a phase-by-phase development so they have to make priorities,” he said in an interview during his visit with his father, Sen. Lito Lapid, for the distribution of assistance to 533 heads of families and students in Baguio.
He noted that “the economy is regaining” and “money is coming in.”
“So, we hope to implement projects for development soon,” he said.
Lapid also disclosed that negotiation with the Asian Development Bank for the rehabilitation of the sewerage and water treatment facility of the city is in the pipeline.
“We still need the NEDA (National Economic and Development Authority) and the Department of Finance because the loans are secured by TIEZA, and if the city fails to pay, TIEZA will pay and it is still government coffers,” he added.
Aside from the projects in Baguio, TIEZA is also eyeing development program for the Mt. Data Hotel in Mountain Province and the Banaue Hotel in Ifugao. (PNA)
TIEZA chief operating officer Mark Lapid, in an interview on Monday, said the agency was not able to immediately provide the funds because of the pandemic and the funding needs that it entailed to the government.
“We will start implementing as soon as we get our funds,” he said.
Lapid said they have agreed with the city government to prioritize parts of the rehabilitation plan so that whatever part of the project that will be completed can “already be used.”
“We do not want a phase-by-phase development so they have to make priorities,” he said in an interview during his visit with his father, Sen. Lito Lapid, for the distribution of assistance to 533 heads of families and students in Baguio.
He noted that “the economy is regaining” and “money is coming in.”
“So, we hope to implement projects for development soon,” he said.
Lapid also disclosed that negotiation with the Asian Development Bank for the rehabilitation of the sewerage and water treatment facility of the city is in the pipeline.
“We still need the NEDA (National Economic and Development Authority) and the Department of Finance because the loans are secured by TIEZA, and if the city fails to pay, TIEZA will pay and it is still government coffers,” he added.
Aside from the projects in Baguio, TIEZA is also eyeing development program for the Mt. Data Hotel in Mountain Province and the Banaue Hotel in Ifugao. (PNA)
