Legal Authority and Basis
- Authority exercised under Republic Act No. 7916 and its amendments, including Republic Act No. 8748.
- Based on recommendations from the Board of Directors of the Philippine Economic Zone Authority (PEZA).
- Complies with PEZA Board Resolutions No. 00-411 (December 29, 2000), No. 05-341 (September 29, 2005), and No. 06-257 (June 13, 2006).
Location and Description of Property
- The IT Center consists of three (3) parcels of private land with an aggregate area of approximately 3,238 square meters.
- Located in Araneta Street, Singcang, Bacolod City.
- Detailed technical descriptions including boundaries and orientations provided for legal clarity.
Specifics of Parcels of Land Involved
- Lot 4, Block 3: Approximately 1,058 square meters, bounded by Lots 1,3,5 and Road Lot 1.
- Lot 1, Block 3: Approximately 1,507 square meters, bounded by Lots 2,4 and Road Lot 1.
- Lot 5, Block 3: Approximately 1,123 square meters, bounded by Lots 4,6,8 and Road Lot 1.
- Bearings and survey details noted to validate boundaries and measurements.
Compliance and Formality
- The proclamation and designation are signed by the President of the Philippines and the Executive Secretary.
- Seal of the Republic affixed to formalize the creation of the IT Center.
- Establishes the center under the legal framework for Special Economic Zones, allowing for the applicable incentives and regulations.
Key Legal Concepts and Implementation
- Integration of Republic Act No. 7916 and its Amendments provides the regulatory framework.
- Utilization of PEZA’s authority to create and manage economic zones tailored for IT industry development.
- Enables focused economic development in Bacolod City through the establishment of this IT center.
- Supports the growth of information technology infrastructure under the Philippine economic zone policies.