ILOILO CITY — The Local Economic Enterprise Office (LEEO) of this city has exceeded its collection targets for 2024, marking a significant milestone in the local government’s financial performance.
Mayor Jerry Treñas said the LEEO reported a total collection of P100 million in 2024, surpassing the P81.4 million target.
In December alone, the office collected P9.4 million, surpassing its P6.7 million target for the month.
Treñas noted that it was the first time the LEEO had collected P100 million during his tenure as city mayor, noting that the office consistently faced deficits, struggling to pay salaries and utility bills.
The city mayor added that the city’s pay parking program also contributed to the financial success, generating P8.9 million in 2024 against a target of P7.8 million.
Iloilo City implemented a paid parking system in May 2023, in designated areas primarily located in the downtown district.
The LEEO is responsible for collecting the fees, and authorized personnel from the Public Safety and Transportation Management Office oversees the enforcement.
Treñas also said that the district public markets, currently under renovation, is expected to further increase the city’s revenue in 2025.
Renovation work is currently underway in three district markets — Arevalo, La Paz, and Jaro — funded through a Development Bank of the Philippines loan.
“While our Central and Terminal Markets have no loans due to the public-private partnership (PPP) arrangement, the income from other markets will help us achieve better financial stability and provide even more services for our Ilonggo constituents,” he added.
The renovation of the Central and Terminal Market was made through a PPP with SM Prime Holdings, Inc., which gave an initial investment of 1.5 billion for each market.
