WHEREAS, Republic Act No. 7227 ("Act") declares a policy to accelerate the conversion into productive uses for the former US military reservations and extensions, to raise funds through the sale or portions of Metro Manila military camps, and to apply said funds for the development and conversion to productive civilian uses of the lands covered under the 1947 Military Bases Agreement;

WHEREAS, the same Act created the Bases Conversion and Development Authority (BCDA) which has been granted the power, among others, to source its capital from the proceeds of the sale and/or disposition of certain Metro Manila military camps except those which shall remain as military reservations delineated and proclaimed as such by the President, and to adopt, prepare and implement a comprehensive and detailed plan embodying a list of projects provided in, but not limited to those included in the Legislative-Executive Bases Council (LEBC) framework plan;

WHEREAS, the Act further provides that the President shall authorize the disposition by the BCDA of certain areas in Fort Bonifacio and the Villamor Air Base six (6) months after the approval of the Act provided that no disposition of such lands may be undertaken without a development plan approved by the President;

WHEREAS, the Act also provides that the BCDA may plan and undertake the relocation or resettlement of populations within its areas of responsibility as it may deem necessary;

WHEREAS, a master development plan and a securitization scheme on portions of the Fort Bonifacio and the Villamor Air Base have been completed by the Public Estates Authority (PEA) as authorized by the Office of the President in coordination and consultation with the Special Operations Team for the Bases Conversion Program, the Department of National Defense/Armed Forces of the Philippines (DND/AFP), the LEBC, Philippine National Bank (PNB), Department of Justice, Bureau of Internal Revenue and the Housing and Land Use Regulatory Board (HLURB) to serve as the initial funds generation program of the BCDA to be approved by the President for implementation;

WHEREAS, in view of the urgency to undertake projects for the initial funds generation program, the BCDA may exercise its power to enter into contracts with the appropriate agency or office;

WHEREAS, the implementation of projects for the initial funds generation program will require constant consultation and close coordination between and among the BCDA and concerned governmental agencies.

NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

Section 1. The portions of the Metro Manila military camps listed in Section 8 of the Act, except those mentioned in paragraphs a, b, c, and d thereof, are hereby transferred to the BCDA.

The JUSMAG compound in Quezon City with an area of 0.14 hectare is also hereby transferred to the BCDA pursuant to Section 7 (b) of the Act.

Other properties may be transferred by the President to the BCDA in accordance with the Act.

The Land Management Bureau of the Department of Environment and Natural Resources (DENR) and other concerned agencies are hereby directed to assist and facilitate the necessary processing and documentation to effect the transfer herein ordered.

Section 2. The properties subject of the foregoing transfer shall be appraised to determine the appropriate valuation to be entered into the books of accounts of the BCDA as part of its capitalization in accordance with Section 6 of the Act.

Section 3. The portions of Metro Manila military camps specified in the disposition timetable hereinbelow shall be utilized for the funds generation program consisting of fast track projects that will provide supplemental capital for the BCDA in addition to such other funds as may be made available for the conversion program pursuant to the Act.

3.1. The following properties shall be disposed of within 15 months from the effectivity of this Order:

	MILITARY CAMP	AREA (in hectares)
1.	Fort Bonifacio
	Heritage Park	96
	Military Housing	10 (pilot project
	Mixed Commercial/Industrial Center	140
2.	Villamor	2.7 (unused portion)
3.	Camp Claudio	2 (unused portion)
4.	Camp Bago Bantay	5
5.	Jusmag Compound	0.14

3.2. The following properties shall be disposed of within 3 years from the effectivity of this Order:

	MILITARY CAMP	AREA (in hectares)
1.	Camp Ver	1.95
2.	Camp Melchor	1.0
3.	Camp Atienza	4.9

Pursuant to Section 8 of the Act, additional areas of Fort Bonifacio and Villamor Air Base may be identified for disposition after the implementation of the funds generation projects enumerated under subsection 3.1 hereof.

Section 4. The BCDA is hereby authorized to enter into a Memorandum of Agreement with the PEA or other government or private corporations which shall serve as Project Manager for purposes of implementing the funds generation projects at the abovestated portions of Fort Bonifacio and Villamor Air Base. The Memorandum of Agreement shall define the responsibilities of the parties and the other terms and conditions of the contractual arrangement.

Section 5. The appropriate government entities which shall include but not be limited to the DND/AFP, DENR, PNB, Securities and Exchange Commission, HLURB and National Housing Authority are hereby directed within the limit of their respective legal mandates, to extend to the BCDA such assistance as may be necessary in the implementation of the funds generation program.

Access to development works and related matters shall be coordinated with the DND/AFP.

Section 6. All Executive Orders, Administrative Orders, and other issuances, inconsistent herewith are hereby deemed repealed, modified or amended accordingly.

Section 7. This Order shall take effect immediately.

DONE in the City of Manila, this 8th day of December in the year of Our Lord, Nineteen Hundred and Ninety Two.


By the President:
(Sgd.) EDELMIRO A. AMANTE, SR.
Executive Secretary