Kalinga lawmaker leads probe into developer’s debt

By JM Agreda
Sunday, October 16, 2011
KALINGA Representative Manuel Agyao, head of the House of Representatives committee on bases conversion, will lead investigations on unpaid lease rental of a private developer in Camp John Hay.
Fil Estate-owned Camp John Hay Development Corporation’s (CJHDevCo) unpaid rent for the former American rest and recreation facility has ballooned to P2.6 billion in the past years despite an already restructured lease contract.
The probe emerged after a resolution authored by Ilocos Norte first district Representative Rodolfo Fariñas last month was adopted by 30 other legislators, including Baguio Representative Bernardo Vergara.
“Non-compliance of the Fil Estate-owned CJHDevCo of its obligation to pay its debts places the National Government and the City of Baguio in a very disadvantageous position,” the resolution stated.
Bases Conversion Development Authority (BCDA) claimed that CJHDevCo has outstanding arrears in lease rentals, which the developer itself acknowledged during efforts in years 2000, 2003 and 2008 to negotiate the payment.
Both parties also had restructuring agreements on the mentioned years.
“Despite BCDA having virtually exhausted all options for a mutually acceptable solution, CJHDevCo still continues to fail to comply with its obligations,” Farinas said.
The City has also waited for years for its 25 percent share in rentals from the corporation to be released after its privatization.
CJHDevCo has the authority to develop, manage and operate more than 200 hectares of areas in Camp John Hay with existing structures. It also acts as leaseholder of other enterprises of the former American reservation, which set up operations, including the Fil Estate-operated Manor and the Baguio Techno Hub, which Ayala Land Inc. has started to develop with call centers and other facilities.
The City Government also expects shares from five percent gross income of new Camp John Hay locators, including firms registered under BCDA and the Philippine Economic Zone Authority.
These shares from CJHDevCo have been declared an important resource by Mayor Mauricio Domogan, especially since the city is facing decreased internal revenue allotment by 2012.
Earnings from the rental were also earmarked prior to the acquisition of then Government Service Insurance Corporation (GSIS)-owned Baguio Convention Center, which the mayor said was not followed.
This resulted in delays in payment to GSIS, which the mayor said resulted in hiked payments in buying the property due to premium interests.
The original lease agreement fixed CJHDevCo’s rental at P425 million yearly for the first five years, starting in 1996, and P150 million annually, after which, the share of Baguio City being 25 percent or P150 million for the first five years and P35.5 million for the succeeding years.
Baguio City, through the City Council committee on laws chairman Richard Cariño, supported the inquiry, stressing the development in Baguio has long been delayed due to the failure of the company to pay the rentals to the city.
Mayor Mauricio Domogan said years of not issuing business permits in the area and the set-up of a one-stop shop also led to the delay in claiming rentals from the company.
In next week’s inquiry, Fariñas hopes to uncover a reported deal of the private developer and the Baguio City government in 1996, the lawmaker said.
Published in the Sun.Star Baguio newspaper on October 17, 2011.

http://www.sunstar.com.ph/baguio/local-news/2011/10/16/kalinga-lawmaker-leads-probe-developer-s-debt-185431

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Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
(045) 841 4006 / 0922-870-5173 / 0917-826-8790 (ask for Ana Fe)

Wine@Yats-International.com

YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay

Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.

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YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.yatsleisure.com

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www.YatsRestaurant.com
Looking for interesting hotels near Manila Subic Clark Angeles City Pampanga?
Trouble free hotels and well recognized hotels in Subic Clark Angeles City Pampanga
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www.HotelClarkPhilippines.com