COA clears Marikina City to sell lots in upscale Loyola Grand Villas – Manila newsletter



The local government of the city of Marikina was authorized to proceed with the negotiated sale of real estate in the upscale Loyola Grand Villas, four years after offering the lots at bargain prices in 2017.

Mayor Marcelino Teodoro

Mayor Marcelino R. Teodoro requested permission from the Audit Commission to authorize the sale at a negotiated price of seven lots of LGV at a cost ranging from 21,403 to 21,800 pesos per square meter – the prices offered at two buyers four years ago.

In a recent decision by the COA-Commission Proper, the audit agency granted the request after Teodoro admitted having difficulty selling the lots after a failed public offer on March 3, 2017.

Before the public tender, the COA Technical Services Unit (COA-TSU) submitted an appraisal and appraisal review report recommending the value of lots 2, 3 and 5 at 43,000 P per square meter and lots 1-A,! -B, 2 -A and 2-B at P45,000.

The City Committee on Awards (CCA) recommended a resubmission, after the offers it received fell below the minimum set by the COA-TSU. However, the new call for tenders carried out on March 16, 2017 was also declared unsuccessful.

On March 28 of the same year, the CCA issued a resolution authorizing the transfer of properties by negotiated sale. The resolution also adopted the negotiated offers of “Ms. Charito B. Baingan at P21,800 per m². for lots 2, 3 and 5; and Mr. Renato V. Santos at P21 403 for lots 1-A, 1-B, 2-A and 2-B.

Teodoro approved the resolution for approval by the COA, in accordance with Republic Law 7160 or the Anti-Registry and Corruption Practices Law.

On January 25, 2012, Teodoro filed an additional memorandum urging COA to approve the negotiated sale of three lots “subject to adjustment of the price offered by current bidders by an amount not less than the appraisal value of the COA” .

The city executive also requested a new bid for the other four lots following the death of the original bidder. Again, the COA-TSU expertise value will be used as the basis for pricing.

In granting Teodoro the authority to undertake the negotiated sale, the COA-CP noted that the city government had complied with the submission of documents indicating the conduct of the tenders and the subsequent declaration of failure in said calls for tenders.

“This Commission recognizes that the failure of the two calls for tenders and the impossibility of a new call for tenders pushed the city of Marikina to conduct negotiations,” noted the COA-CP.

“With regard to the negotiated price of the properties in question, it is not undervalued as the current bid for lots under TCT numbers 295145, 295146 and 295147 will be adjusted to an amount not less than the value of COA evaluation “, added the panel composed of President Michael Aguinaldo and Commissioner Roland Pondoc.

“Thus, this Commission approves the proposed negotiated sale of the properties”, indicates the decision.

Of the remaining four lots, the COA-CP stated that it cannot find any bans for the new offering using the COA-TSU appraisal value.


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