Pati si Uncle Sam, may claim pala sa BGC. Dyan na tayo!!!

Biz Buzz | Inquirer Business

Biz Buzz
By the staff
Philippine Daily Inquirer
8:40 pm | Sunday, September 22nd, 2013
24 69 23
Uncle Sam in BGC
The creation of a government financial cluster in Bonifacio Global City— envisioned to host the likes of the Securities and Exchange Commission, the Bureau of Internal Revenue and the Department of Finance—isn’t likely to happen anytime soon.
It turned out that the US government has a claim on the 10-hectare land as part of the post-World War II Manila American cemetery. From what we gathered, the US government appeared uninterested in exercising ownership on this lot in previous decades and the lot has since been invaded by informal settlers now reaching about a thousand families. The US started reasserting its claim in the 1990s as the former Fort Bonifacio military camp—now rebranded as BGC—started urbanizing.
There are indications that the US government is willing to sell back the lot to the government for $10 million but the Bases Conversion Development Authority (BCDA) is worried that taking over the property will be difficult to execute. Not only will it have to pay for the land but the clearing of informal settlers is seen costing a lot.
Subject to approval of Malacañang, the BCDA’s proposal is for the Philippine government to formally request the US to drop its claim on this parcel of land. Certain sweeteners may be added—such as the expansion of the International School and the establishment of a Fil-Am friendship-themed Freedom Park. The SEC, BIR and other government agencies can then acquire the land on which to build their future office towers.
So this is probably why the SEC, which is in urgent need of a new home because its current building in Ortigas is an earthquake trap, isn’t counting on settling in BGC in the next five years. Doris C. Dumlao