Question & AnswerQ&A (EXECUTIVE ORDER NO. 654)
The purpose of Executive Order No. 654 is to further define certain functions and powers of the Public Estates Authority, particularly to provide a coordinated, economical, and efficient administration of lands and real estate belonging to, managed, and/or operated by the Government, especially reclaimed lands.
The Public Estates Authority was created under Presidential Decree No. 1084.
The Public Estates Authority is the agency primarily responsible for integrating, directing, and coordinating all reclamation projects for and on behalf of the National Government, pursuant to Executive Order No. 525.
The Public Estates Authority is classified among the infrastructure/utilities group of corporations under Letter of Implementation No. 97 and shall operate on a self-liquidating basis.
The Authority is granted autonomy to: a) Modify its organization as its Board may deem necessary to achieve its objectives and aims; and b) Invest its funds and assets in ventures or undertakings to ensure full utilization consistent with its objectives.
The Authority has the power to determine the kind and manner of payment for the transfer of its assets and properties to any third party.
The Board of Directors' membership was increased from five to seven members.
The General Manager is an ex officio member of the Board of Directors, ensuring that the chief executive officer is partly accountable for the policies of the Authority.
No, all lands, buildings, and other real properties of the Authority are exempt from the payment of real estate taxes under Section 4 of EO No. 654.
They are modified accordingly to be consistent with the provisions of Executive Order No. 654.