Vol. XXI, No. 240 [ BusinessWorld Online ]
Tuesday, July 8, 2008 | MANILA, PHILIPPINES
BACOLOD CITY — The city council has asked the Philippine Reclamation Authority (PRA) to recall the extension of the reclamation contract with the Bacolod Real Estate Development Corp. (BREDCO).
But PRA General Manager Andrea D. Domingo asserted the authority’s power to extend the contract.
BREDCO, which reclaimed 180 hectares of foreshore land, had asked the PRA to extend its permit to reclaim an additional 60 hectares. The PRA approved BREDCO’s request and extended its right to reclaim until Feb. 22, 2011.
In her letter to the council, Ms. Domingo said it is to the best advantage of the government to have the project completed soonest so that the government can immediately get and enjoy the proceeds of its land share.
"The economic benefit that will be derived from the completed BREDCO reclamation and its multiplier effect in terms of immediate conveyance to both local government and national [PRA] of their respective land shares from the project, vertical developments, new jobs, taxes and fees that the local government will generate from it cannot be underscored," Ms. Domingo wrote.
Under Executive Order 543, the power to approve reclamation projects was delegated to the PRA, she said.
"Considering that PRA approved the reclamation and development schedule of the project, it follows that it has the power or authority to extend what it has approved," Ms. Domingo added. — Chrysee G. Samillano
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