Question & AnswerQ&A (EXECUTIVE ORDER NO. 40)
The policy is to accelerate the conversion of former US military reservations and extensions into productive civilian uses, raise funds through the sale of portions of Metro Manila military camps, and apply those funds to develop and convert lands covered under the 1947 Military Bases Agreement.
The BCDA is authorized to source its capital from the proceeds of the sale or disposition of certain Metro Manila military camps and to adopt, prepare, and implement a comprehensive plan for projects related to the conversion and development of these areas.
Military reservations that shall remain as such and are delineated and proclaimed as such by the President, including specific areas mentioned in paragraphs a, b, c, and d of Section 8 of the Act, are exempted from transfer to the BCDA.
The President must authorize the disposition of lands by the BCDA, and no disposition of such lands may be undertaken without a development plan approved by the President.
Certain properties must be disposed of within 15 months from the order's effectivity, including portions of Fort Bonifacio, Villamor, Camp Claudio, Camp Bago Bantay, and Jusmag Compound. Other properties such as Camp Ver, Camp Melchor, and Camp Atienza must be disposed of within 3 years.
They are directed to assist and facilitate the necessary processing and documentation to effect the transfer of military properties to the BCDA.
The properties shall be appraised to determine the appropriate valuation to be entered into the books of accounts of the BCDA as part of its capitalization.
The BCDA is authorized to enter into contracts with appropriate agencies or offices to implement the funds generation projects as part of the initial funds generation program.
Entities include but are not limited to the Department of National Defense/Armed Forces of the Philippines (DND/AFP), Department of Environment and Natural Resources (DENR), Philippine National Bank (PNB), Securities and Exchange Commission, Housing and Land Use Regulatory Board (HLURB), and National Housing Authority.
All executive orders, administrative orders, and other issuances inconsistent with Executive Order No. 40 are deemed repealed, modified, or amended accordingly.