BCDA gets support from Baguio officials
BAGUIO CITY, Philippines – Mayor Mauricio Domogan and members of the city council have given their support to the state-owned Bases Conversion and Development Authority (BCDA) and its subsidiary, the John Hay Management Corp. (JHMC), in efforts to collect the P3-billion debt of the Camp John Hay Development Corp. (CJHDevCo) to national government.
“We are one in collecting the P3 billion,” Domogan said.
Domogan and the city council gave this assurance after a briefing by BCDA president and chief executive Arnel Paciano Casanova and JHMC president Jamie Eloise Agbayani on the status of the Camp John Hay lease agreement.
The BCDA earlier had terminated the lease agreement with CJHDevCo due to alleged material and incurable breaches.
The Baguio City government stands to receive 25 percent or P750 million from the P3-billion financial obligation of CJHDevCo to the national government.
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