CJHDevCo transformed Camp John Hay as a world-renowned destination haven
The Camp John Hay Development Corporation (CJHDeVCo) impugns recent newspaper articles on its alleged acts to defraud the government and the investing public in the Camp John Hay project.
The articles contained factual inaccuracies that may have resulted from incomplete verification or confusion regarding distinctions between the project and its developer – failing to even differentiate what the Sobrepeña Group won in the 1990’s
“Mr. Sobrepeña earned the right to develop Camp John Hay and not the management of a company known as CJHDevCo. And this state of confusion characterized the obvious fallacies of the articles,” explained Atty. Christian Sorita, legal counsel for CJHDevCo.
CJHDevCo has, in fact, made good on its deliverables after it developed key projects inside the camp including two world-class hotels (The Manor and Forest Lodge) and transformed the golf course into international standards through the Golden Bear International of golfing great Jack Nicklaus.
In addition, other beautiful units were built including log cabins, forest cabins, a grand convention center while having legitimate contracts with the different locators such as other hotel operators ,call center hubs, restaurants, cafés, convenience stores and novelty and specialty shops.
And all these were developed in spite of the numerous breaches by BCDA. Foremost of these was the cancellation by the Supreme Court of one of its most important warranty, the 5% gross tax on all incomes earned by the project, without which BCDA would never have been able to demand a high annual lease rate for the leased areas. *
50-year lease guaranteed
The said articles, likewise, miserably failed to mention that the Camp John Hay lease entered for a total of 50 years, as bidded by the Bases Conversion and Development Authority (BCDA) in 1996.
“The Lease Agreement between CJHDEVCO defines the “LEASE PERIOD” *has* a term of 25 years, renewable for another 25 years, under the same terms and conditions, at the option of lessee,” Atty. Sorita clarified. *
This 50-year lease was required by BCDA to justify their higher annual lease payments. In fact, BCDA also acquired some of these residential units and golf memberships, all with 50 year leases which they acknowledged.*
Thus, the Lease Agreement’s wording clearly defines the term, which does not align with the interpretation on the articles that the lease is only for 25 years but sold for 50 years.
“The Lease Agreement provides a clear definition of the “LEASE PERIOD” as a total of 50 years and it is only CJHDEVCO, not BCDA, per contract, who has the right to say otherwise, “Atty. Sorita stressed.
Party to all deals
BCDA cannot deny these facts as the state agency was in the CJHDEVCO board from 2003 to 2012.
Sales, of which 50 are leases, were presented, discussed and approved.
As part of the various restructuring agreements, BCDA also appointed their comptrollers to monitor sales revenues of CJHDEVCO.
In short, BCDA appointed its Board members and comptroller officers to preserve revenues and therefore was the main beneficiary to all sales revenues in order to pay for its leases. ###
