Deficiencies in Joint Venture Agreement for Quezon City Property
National Housing Authority · 2023
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What Happened?
Category: Procurement and ContractingIssue: Non-complianceA major land development deal was executed without required government approvals, proper oversight reviews, or standard competitive bidding procedures, exposing public property to significant risks.
Why It Matters
Recommended Actions
- Inquire from NEDA on the appropriate remedy for the lapses in not submitting the JVA for its review and evaluation, not securing the approval of the Office of the President, not related to and in furtherance of the primary corporate purpose, mandate or charter of NHA, not responsive to the national development goals and objectives
- And not issuing the Notice of Award to the land developer
- Re-evaluate the JVA and consider amending, as necessary, to ensure that the best interest of the government is protected
- Submit copy of the JVA to the concerned regulatory/oversight government entities
- And Submit annual report on the status of implementation of the JVA to DOF.
Original Audit Finding Excerpt
"Noted deficiencies in the Joint Venture Agreement (JVA) for the development of the NHA property in Quezon City: a. The JVA lacks the required approval from the OP and review and evaluation by the National Economic and Development Authority (NEDA)..."