Scope and Subject Property
- Applies to the 574-hectare property of Sagana Plantation, Inc. located at South Bienvenida, Kapalong, Davao del Norte.
- Aimed at setting up an agrarian reform project on this property.
Role of the Minister of Agrarian Reform
- Tasked to implement a land transfer operation scheme for the Sagana Plantation property.
- Responsible for the allocation of farmlots and homelots based on an integrated development plan prepared for the project.
- Conduct a parcellary mapping or identification of lots occupied by farmer-beneficiaries.
Appraisal Committee Formation and Property Valuation
- The Minister of Agrarian Reform and the Land Bank of the Philippines to organize an appraisal committee.
- Committee composition: representatives from two government financial institutions and a private appraisal firm.
- Purpose: Determine the reasonable valuation of the Sagana Plantation property in accordance with the law.
Financing Arrangement by the Land Bank of the Philippines
- Financing to be provided for the acquisition by the Davao del Norte Free Farmers Cooperative, Inc. and farmer-beneficiaries.
- Acquisition value based on the appraisal committee's determination.
- Financing conditioned upon completion of parcellary mapping and acknowledgment of amortization obligations by farmer-beneficiaries and the cooperative.
- Amortization terms: 15 years with 6% annual interest rate.
- Mode of financing follows Presidential Decree No. 251, preferably 10% cash and 90% Land Bank bonds.
Legal and Administrative Directives
- Directs government agencies and financial institutions to coordinate and ensure the orderly acquisition and transfer of lands.
- Emphasizes the importance of government support and encouragement in agrarian reform efforts.
- Establishes the procedural framework for land acquisition, valuation, allocation, and amortization under the agrarian reform project.