Location and Designation
- Two parcels of land located on F. Cabahug Street, Barangay Kasambagan, Cebu City, are designated as an Information Technology Park.
- The area is named "Bonifacio Business Park."
- The aggregate area of the two parcels is approximately 11,623 square meters.
Applicable Legal Instruments and Regulations
- The designation is subject to Republic Act No. 7916, its Implementing Rules and Regulations, and specific PEZA Board Resolutions:
- Resolution No. 00-411 (2000)
- Resolution No. 04-295 (2004)
- Resolution No. 18-607 (2018)
Description and Boundaries of Parcel 1 (Lot 1, Pcn-07-000335, TCT No. 107-2011004364)
- Lot 1 is part of a consolidation plan involving several lots in Barangay Kasambagan, Cebu City.
- The total area is about 5,820 square meters.
- Detailed technical description includes bearings, adjacent lots, and measurements.
- Boundaries include lots identified by PS numbers and Banilad Estate.
- Survey dates and monuments for reference are provided, indicating the validity and precision of the survey.
Description and Boundaries of Parcel 2 (Lot 817-B, Psd-07-042857, TCT No. T-178828)
- Lot 817-B is a portion of Lot 817 within Banilad Estate in Barangay Kasambagan.
- The area covers approximately 5,803 square meters.
- The technical description specifies boundary lines, adjacent parcels, bearings, and points marked by monuments.
- Survey dates and monuments confirm the authenticity and detail of the land description.
Formality of the Proclamation
- The proclamation is signed by the President of the Philippines and the Executive Secretary.
- It is sealed with the official seal of the Republic of the Philippines.
- The effective date is November 8, 2021, executed in Manila.
Key Legal Concept: Special Economic Zone
- The designated area will enjoy the benefits and privileges accorded under RA 7916.
- This includes incentives for IT businesses operating within such zones under PEZA administration.
- The park aims to foster investment and development in the IT sector within the specified location.
Conclusion
- The issuance formalizes the creation of an IT Park to stimulate economic growth.
- It provides a legal framework for operations, development guidelines, and investment incentives.
- It ensures precise land identification and compliance with existing laws and regulations governing special economic zones in the Philippines.