After much controversy and court battles, the contract for the sale and lease of the 7.7-hectare prime property of the Negros Occidental provincial government in Bacolod City was signed by AyalaLand and the Provincial Government of Negros Occidental last April 27, 2012. The signed contract will be ratified by the Sangguniang Panlalawigan in a special session tomorrow, April 30, 2012.
The Capitol-Ayala deal has been sitting with COA for eight months and the delay in handing down a decision means a delay in a development project which will benefit Bacolod City and Negros Occidental. The signed contract is said to be one of the requirements of the Commission on Audit for approval of the deal. Let’s keep our fingers crossed.