Imposition of the CUSA Fee

Page 1

SUBle BAY METROPOLITAN AUTHORITY Office of the

SENIOR DEPUTY ADMINISTRATOR

....-..

SUBle BAY

...............

Rm. 109, Bldg. 229, Waterfront Tel (6347) 252-4885

Rd., Subic Bay Freeport

FOR SUPPORT SERVICES

Zone, Philippines

2222

Fax (6347) 252-4040

24 August 2012

All Locators and Residents of the Subic Bay Freeport Zone

Re:

Imposition of the Common Use Service Area Fee (CUSA)

Dear Locator / Resident, Taking into consideration the comments and observations raised during the various public hearings and focused-group discussions held on the CUSA, please be notified that the SBMA Board of Directors resolved to revise the CUSA Rates, as follows: For Locators: a. A monthly Peso rate per square meter of leased land based on 2% of the Appraised Value, but not to exceed 20% of the Actual Monthly Rent. A table of Appraised Values is attached as Annex "A". 1.

In the case of locators with lease contracts based on a fixed rent plus a gross revenue share, the Actual Monthly Rent will be based on the sum of the monthly fixed rent and the average monthly revenue share.

2.

In the case of locators with lease contracts based purely on a gross revenue share, the Actual Monthly Rent will be based on the average monthly revenue share or the minimum monthly revenue share, whichever is higher.

3.

In the case of locators who paid their lease on a lump sum basis, the Actual Monthly Rent will be based on a monthly rate derived from the future value of their lump sum payment computed using a given yield. The formula to compute this monthly rate is attached as Annex "B".

b. No discounts shall be given regardless of the size of the Leased Area, except for Power and Water Utilities which shall be given a 100% discount. For Residents: a. A monthly rate of Php1 ,200.00 per housing unit, inclusive of garbage fees.


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