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Corozal Mayor Renegotiates Street Upgrading Contracts

Mayor of Corozal Town, Mayor Rigo Vellos has renegotiated the Imer Hernandez contract in order to save the municipality some money.

Mayor of Corozal Town, Mayor Rigo Vellos has renegotiated the Imer Hernandez contract in order to save the municipality some money.  Upon entering office in March 2018, Mayor Vellos encountered the one point three million dollar contract signed with Imer Hernandez Development Company in February 2017 for the paving of six streets. This agreement set out a schedule of monthly payments over a period of 10 years and included the stipulation that in the months January to March, the entire Government subvention be paid towards the contract. According to a release from the Council, that financial obligation has been the main cause of financial strife for Corozal Town Council, putting pressure on monthly payments over the past three years. Past attempts by the Council to request the re-negotiation of the contract to lower payments did not succeed. However, one last attempt late last year proved successful, and on January 13, Mayor Rigo Vellos and Imer Hernandez Development Company agreed to new payment terms. The re-negotiation of the terms will lower payments while extending the completion year. This will give much-needed financial breathing room to the Corozal Town Council, which amidst COVID19 times has had to implement numerous austerity measures including a reduction of salaries to 75, a shift-system work schedule, and focused prioritization for spending. These measures have ensured that no employee has been fired during COVID19, in support of families.