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PRESS RELEASE
Public Information Office-City Mayor's Office
REF. NO. 1204-0002
December 1, 2004

Review of Reclamation Agreement Proposed

     The Sangguniang Panlungsod will look into the possibility of reviewing the Comprehensive Revised Reclamation Agreement (CRRA) between Bacolod City and the Bacolod Real Estate Development Corporation (BREDCO)
     Stating an urgent need for the review, the SP has passed Resolution No. 04-987 citing major and related reasons, foremost of which is the upward adjustment of the P800,000.00 annual fees being paid by BREDCO to the City. The original agreement between the City was signed in 1961, modified in 1966, and revised/updated in 1995. The 1995 revision subjected the annual fee to an 'upward adjustment" every 5 years beginning March 1995. The agreement has never reviewed for said upward adjustment since March 2000.
     While the city express appreciation to Bredco for undertaking this huge task, it cannot be denied that there is now an urgent need for the review because of the fiscal crisis and other economic changes in recent years. Furthermore, there is also the need to shed light on the status of the titling process of the reclaimed land and the port that was completed in 2000.
     Other related reasons involve issues regarding illegal activities such as commission of crimes, dumping of garbage and human wastes, encouraged by the large tracts of cogonal grass in the reclaimed land which pose definite hazards to health and security.
     The creation of a joint executive-legislative review committee to facilitate the said review is part of the resolution that was proposed by Councilor Caña (CMO/PIO)

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