Two options can be considered: Developer-Operator and Developer. The option presented here is the case of a developer who will transfer the public market to the LGU upon completion of construction.
Rental revenues are estimated for commercial space and other facilities based on prevailing rates. The projected revenues and operating and maintenance expenses are presented in the income statement shown in Table 3-8.
Payment of real property taxes on improvements is the responsibility of the proponent. As an incentive to the proponents, the LGU may issue an exemption on the tax for a period of time. Responsibility ends when the property ownership is transferred to the LGU. Regardless of the investment mode, the tenants in the market and shopping center are obligated to pay all required business license fees to the LGU.