Baguio: The city government will explore other options for the redevelopment of the city's public market following SM Prime Holdings' (SMPH) withdrawal of its public-private partnership (PPP) proposal for the measure.

According to Philippines News Agency, Councilor Paolo Reynor Salvosa, chair of the city council's committee on laws, stated that the council agreed during its Monday session to defer accepting any unsolicited proposals while a master development plan for the facility is being drafted. This plan will be led by the city government rather than the private sector.

Salvosa added that the city council's committee on the market was tasked with creating a report on the best possible modes of development. Options include obtaining a loan for the project, bond flotation, cooperative management, or a gradual increment if a subsidy from the national government can be secured.

Despite SMPH's decision to withdraw its proposal, Salvosa emphasized that the research, public consultations, and dialogues on the matter were valuable. He mentioned that they gathered input from various stakeholders, which will continue to aid in discussions about the market's redevelopment.

On January 3, Mayor Benjamin Magalong announced that SMPH had withdrawn its proposal for a PHP4.5-billion multilevel facility intended to replace the city's public market. This withdrawal occurred just two days before the committee was to submit its recommendations and findings based on prior research and consultations.

SMPH's unsolicited proposal was submitted in 2020 and subjected to the PPP process. However, the PPP method is now excluded from the options due to opposition from many residents.

Vice Mayor Faustino Olowan expressed that they aim to devise the most feasible and acceptable redevelopment plan that will benefit the city as a whole. Salvosa highlighted the significance of meaningful public consultations where all sectors are heard, urging cooperation and discussion based on what is best for the majority.

Salvosa noted that inputs from public hearings will be submitted to the council as part of the ongoing discussions and the development of the master redevelopment plan. He concluded that while opinions varied, there is a consensus on the need for market redevelopment, though the specifics will be determined later.