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.
Other than the above, all the other terms and conditions of the CUSA remain unchanged with those that were presented during the public hearings. The costs of administration of municipal services, 24-hour Emergency Medical Assistance, Road Maintenance and Facilities Management as well as the provision for the new Tipo Road Street Lights shall continue to be borne in full by the SBMA. Manner of Imposition The CUSA will be billed together with the rental and will be included in your rental bill. The CUSA will be imposed only on SBMA's direct lessees who shall have full and primary responsibility for payment. SBMA's direct lessees have the option of passing on the CUSA to their sub-lessees. The CUSA will be based on land area, not floor area. Penalties for Non-Payment 1st Offense - 10% surcharge + 12% interest per annum 2nd Offense - 20% surcharge + 12% interest + suspension of Permit to Operate for locators, non-collection of garbage for residents. 3rd Offense - 25% surcharge + 12% interest + cancellation of Certificate of Registration and Tax Exemption, Certificate of Registration or Residential Lease Agreement Publication and Effectivity The CUSA shall be published once a week for two consecutive weeks in a newspaper of national circulation and shall be imposed upon the lapse of 15 days from the last publication date. We trust in the civic mindedness and spirit of cooperation of our locators and residents to help shoulder the cost of law enforcement, fire fighting, street cleaning and street lighting in order to, at the minimum, sustain the quality of these services and in the immediate future, look into further improving them, all for the betterment of the Subic Bay Freeport Zone. Best regards.
Yours sincerely,
Cc:
Chairman & Administrator Chief Operating Officer Subic Bay Freeport Chamber of Commerce
2
PROJECTED CUSA A
B
(
Locator
LSRate /SQ
Term (Yrs)
D
Appraised FV of $loo@1.438%pa
$ 100.00
50.00
$204.19
$0.34
H
$
I
(USA Rate TOTAL AREA
Value
MO. Rate/SQM
PerSQM Locator A
I
G
F
E
2% Appraised
2.56 $
J
K
2% Appraised Value
20% of MO.
of Lot
Base Rent
120% of MO. Base
0.05
$0.06806
lO,(XX).oo
$
For locators under lumpsum Contracts, their CUSAwill be based on the lower of two (2) Options: OPTION 1: 2% OF THE CURRENT APPRAISED VALUE OF LOT (Column J) $511.67 is 2% of the Appraised Value of the Lot = (Column G) $0.05 X (Column I) 10,OOOsq.m. (Column G) $0.05 is 2% of the Appraised Value (Column F) (Column F) $2.56 is theCurrent Appraised Value given by LAMD (see below chart) Subic Gateway, Php 107.45/ Forex = US$l=Php 42 (Column I) 10,OOOsq.m.is the Total Area Leased by the Locator Current Appraisal per District APPRAISAL PER SO.M/MOI in Alp
LOCAIDN
APPRAISAL PER SO.M/MOI in US$
2% OF THE APPRAISED
BINICTICAN
48.91
1.16
0.0233
CENTRAL BUSINESS DISTRICT
162.48
3.87
0.0774
CUBI TRIBOA DISTRICT
50.66
1.21
0.0241
ILANIN
FOREST EAST
37.56
0.89
0.0179
ILANIN
FOREST WEST
37.56
0.89
0.0179
48.91
1.16
0.0233
107.45
2.56
0.0512
113.56
2.70
0.0541
KALAYAAN SUBIC GATE-WAY
DISTRICT
SUBIC PORT DISTRICT
511.67
$
680.63
PROJECTED(USA A
B
D
(
F
E
Appraised Locator
LSRate /SQ
FV of $1oo@1.438%pa
Term (Yrs)
$ 100.00
50.00
$204.19
H
I
(USA Rate TOTAL AREA
Value
MO. Rate/SQM
PerSQM Locator A
I
G
$0.34 $
J
K
2% Appraised Value
20% of MO.
of Lot
Base Rent
2% Appraised 120%of MO. Base
2.56 $
0.05
$0.06806
$
10,000.00
OPTION 2: 20010 OF THE MONTHLY BASE RENT (Column K) $680.63, is the 20% of the monthly Base Rent = (Column H) $0.06806 X (Column I) 10,OOOsq.m. (Column H) $0.06806 is 20% of the Monthly Rate (Column E) (Column E)$0.34 = Column 0204.19/ (Column C) SOyrs/12 months (Column 0) $204.19 is the Future Value of( Column B) $100.00 using a given yield. In this given, a yield of 1.06 (L1BaR Rate Sources:
British Bankers/Association,
Bankrate.com
)
+ 0.378 spread
(Land Bank Rate)
= 1.438%
(Column B) $100.00 is the sample per sqm. Lumpsum Rate of the Locator
(USA FEEPAYABLE: In this example, OPTION 2 is 33% Higher compared to OPTION 1 Locator A, will pay a monthly CUSAFee amounting to (Column J)$511.67 or Php 24,490.00 @ US$1=Php 42.00
511.67 $
680.63
13/08/2012
PAGE
0472524715
11:13
.1 ~~J
Business and Investment Group
LAND ASSET MANAGEMENT Bldg. 156. Quezon 51.. cor. Sampson Tel (6347) 252-4\ 47/4148/4409/4529
DEPARTMENT
Rd., Subic Boy Freeporl Zone, Philippines 2222 Fax (63471 252-4780 website: www.sbma.com
UPDATED APPRAISAL RATES
APPRAISED RATE (peso/sq.lmo.) LOCATION
~TEM
FIRST STRIP
FOURTH StRIP
THIRD STRIP
8inictican Heights District
48.913
44.022
39.620
Central Business District
162.481
146.233
none
Cubi-Triboa District
50.662
45.596
none
None
4
Ilanin Forest East District
37.556
33.800
30.420
30.116
5
lIanin Forest West District
37.558
33.800
30.420
30.116
6
Kalayaan Heights District
48.913
44.022
39.620
35.658
7
Redondo Peninsula District
5.2481
4.723
4.251
8
Subia Gateway Distrid
1
--.-
i
SECOND STRIP
",
2
f---
..-
3
..
1--,
--,.
1---.
9
35.658
..•.
Subic Port District
-
107.44t-96.701 113.555 I
none
none
.-
87.031
•. -.
3.826
none
none
none 1
I
~ 10 11
Tipo Are. Mt.
L_..-L.
Sta. Rita Area .~
2.424
2.182
1.96
1.764
1.45
1.305
1.175
1.0575 ..•-
.
01