The Tanauan Public Market is patronized not only by Tanauananons but by those from neighboring towns like Tolosa, Tabon, Dagami, Palo, Burauen and even Tacloban. Buildings at the public market are dilapidated and need immediate repair or replacement. The amount needed is estimated at P40M to replace the old buildings with new structures and elevation of the area.  The income of the LGU is not enough to finance the whole cost at one time.

If ever, it will take not less than 5 years to finish it using the funds of the LGU.  This would mean 5 years or more of dislocation and disturbance to our market vendors and market goers.  The cost may also increase as the materials is increasing every year.  Actually, this is what had happened to our Municipal Hall construction.

On the other hand, per the feasibility study made, the present financial condition  of the LGU would allow us to  borrow from banks up to P70M but only the amount of P40M will be sourced as it will be enough already and the LGU can well afford to pay it in 7 years time.  Basic services will not be affected even if the LGU will resort to borrowings. Local income is sufficient to pay the amortization.  Construction period will last for 6 months only.

The LGU does not have any loan obtained ever since and does not have any liability to anybody.  Should the LGU decide to resort to borrowings, it will make sure that a public hearing will first be conducted and the Sangguniang Bayan give its Legislative authority.