Question & AnswerQ&A (PROCLAMATION NO. 771)
The creation and designation of the V-Corporate Centre as an Information Technology Center is based on Republic Act No. 7916, also known as the Special Economic Zone Act of 1995, as amended by Republic Act No. 8748.
The President of the Philippines has the authority to create and designate buildings as Information Technology Centers under RA No. 7916, upon the recommendation of the Board of Directors of the Philippine Economic Zone Authority (PEZA).
Proclamation No. 771 dated May 20, 2014, officially creates and designates a building located along L.P. Leviste Street, Salcedo Village, Makati City, as an Information Technology Center to be known as the V-Corporate Centre.
The resolution numbers mentioned are Resolution No. 00-411 (s. 2000), as amended by Resolution No. 11-066 (s. 2011), and Resolution No. 13-068 (s. 2013) of the PEZA Board of Directors.
The V-Corporate Centre has an aggregate area of approximately Two Thousand Six Hundred Seventy-Six (2,776) square meters, more or less.
The property includes Lot 5, Block 12; Lot 6, Block 12; and Lot 7, Block 12, as per consolidation-subdivision plan Pcs-6820.
PEZA's Board of Directors recommended the creation and designation of the V-Corporate Centre as an IT Center, and it has resolution authority in such matters under RA No. 7916 and its implementing rules.
The boundaries of the lots are detailed with specific points and neighboring lots such as Street Lot 4 (Alfaro Street) and Street Lot 11, with exact bearings and distances provided in the proclamation.
The proclamation was signed by President Benigno S. Aquino III and countersigned by Executive Secretary Paquito N. Ochoa, Jr.
The technical descriptions and boundaries are defined by the consolidation-subdivision plan [LRC] Pcs-6820, plan [LRC] Psd-6086, and corresponding Transfer Certificate of Title numbers S-94538, S-95658, and S-94537 for the respective lots.