THE city government, through the City Planning and Development Office (CPDO), and the Department of Environment and Natural Resources (DENR), have agreed upon and are finalizing a memorandum of agreement (MOA) for the development of an area covering portions of Burnham Park and Gov. Pack Road.
CPDO head Donna Rillera-Tabangin said that the MOA for the development project is expected to be signed this month.
The MOA holds the city to the creation of development plans for the lot, marketing the project to drum up interest from private sector entities to participate in the development through public-private partnership (PPP).
It also holds the city responsible for handling the preparation, bidding, and awarding of contracts and other responsibilities in the implementation of the project, which is intended to be a multipurpose project.
“These would include a high-density, multi-use area for commercial, parking, and transit-oriented development as well as pedestrian and green parks,” Tabangin said.
Under the MOA, the DENR would then be liable to review the development plan and will continue to exercise the right of ownership over the properties. The city, as the second party in the MOA, is allowed to use the property for 25 years, renewable for another 25 years should a mutual agreement be reached by both parties.
The agreement also provides for the equitable sharing of profits between the DENR, the government, and any third party that would be part of a PPP implementation of the project.