The technical team created by the Commission on Audit to evaluate and re-appraise the value of the property that is the subject of a deed of sale and contract of lease between the Negros Occidental provincial government and Ayala Land Inc. arrived in Bacolod City yesterday.

The team is tasked to look into the price of the property and appraise the reasonability of the sale, State Auditor Encarnacion Esmino, who heads the team, said.

Created just last week to evaluate and re-appraise the value of the 7.7-hectare property that belongs to the provincial government, Esmino said they will be in the city for three days to do their job.

Their task is to determine the price of the property and submit their report to the Commission Proper for its decision and recommendations.

The COA has deliberated on the issue but failed to come up with a ruling that will give the provincial government the go-signal to proceed with the transaction.

To ensure that the final contract for the sale of the property is in favor of the government, the Commission Proper has decided to create the appraisal team composed of personnel from its Technical Services Office.

COA spokesperson Gilbert Kintanar told members of the media that the commission is doing its best to hasten the process and they will set the next meeting to deliberate on the transaction as soon as the technical team submits its report.

Gov. Alfredo Marañon Jr. earlier said it is the prerogative of the COA to create the appraisal team and the provincial government will just have to wait for another month.

“Hopefully, they will have a decision in April,” Marañon said.

A DAILY STAR source said there is a claim that the provincial government only disclosed the existence of a floor price for the 7.7 hectare property after the bidding was conducted and this is one of the issues COA is looking into.

The final contract of sale and lease between the provincial government and Ayalan Land Inc. hit a snag when the SM Prime Holdings Inc. filed a complaint against the transaction.*NAB

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