Local News: SP Ratifies Capitol-Ayala Contracts
The Negros Occidental Sangguniang Panlalawigan (SP) approved in a special
session last Monday the contracts for sale and lease of 7.7- hectare prime
property of the provincial government, which Governor Alfredo Marañon Jr. and
Ayala Land officials signed last Thursday.
Both the Contract for Conditional Sale and the Contract for Lease were
submitted by the provincial government to the Commission on Audit (COA) Head
Office in July last year for approval, however, COA noted only last week that
the contracts were deficient because they were unsigned.
So Marañon went to Manila last week to sign the contracts with Ayala Land
president Antonino Aquino and senior vice president Jose Emmanuel Jalandoni.
Marañon said they had submitted the signed contracts to COA last Monday.
Board Member Mae Javellana presided the special session in the absence of
Vice Governor Genaro Alvarez Jr. who was in Manila for a medical check-up.
The SP had also authorized the governor to sign the contracts on behalf of
the provincial government, and approved the Capitol Civic Center development
plan on the 7.7-hectare property, which Ayala Land is proposing to build with
P6-billion in investments.
The SP had previously ratified the unsigned contracts, about 10 months ago.
Marañon said he is hopeful that COA will soon approve the contracts, which
have been pending with the Commission for nine months already, since the
Provincial Capitol had already complied with the requirements.
The governor earlier said that from all indications, it’s already “a go” for
the project. He said it’s already a “signed deal” and “everything will go on as
planned although a bit late.” Based on the sale and lease contracts, Ayala Land
will buy from the Negros Occidental provincial government 3.6587 hectares of
land worth P750,033,500 subject to an initial payment of 50 percent, with the
balance to be paid on a quarterly basis over a one-year period, the deed of sale
To be leased is 4.0481 hectares at P2,955,133 a month, with rent increasing
at 10 percent every five years.
Ayala will deposit P35,461,356 covering one year rent, the contracts stated.
The P6-billion Capitol Civic Center would have been an integrated mixed-use
civic and commercial district, with retail, office, residential and hotel
components, and is envisioned to be the growth center of Negros Occidental,
Jalandoni earlier said.*(DBDangcalan)