Property Profile Land Underlying Defunct Laoag Diesel Power Plant Located in Brgy 21, P

Property Profile Land Underlying Defunct Laoag Diesel Power Plant Located in Brgy 21, P. Gomez St., Laoag City, Ilocos Norte

Privatization of the Real Estate Assets of PSALM

16 May 2017

IMPORTANT NOTICE

This Property Profile (the “Profile”) has been prepared by Power Sector Assets and Liabilities Management Corporation (“PSALM) solely for information purposes. PSALM is distributing this Profile solely for use by Interested Parties to determine whether they would like to participate in the sale of the land with an area of Three Thousand Five Hundred Thirty (3,530) square meters located in Barangay 21, P. Gomez St., Laoag City, Ilocos Norte (the “Property”). The Profile may not be distributed, reproduced or used without the express written consent of PSALM for any purpose other than the evaluation of the Property by the person to whom this Profile has been delivered. The information contained herein has been prepared to assist Interested Parties in making their own evaluation of the Property and does not purport to contain all of the information that Interested Parties may desire. In all cases, Interested Parties should conduct their own investigation and analysis of the Property, their condition and prospects, and of the data set forth in this Profile. PSALM has not assumed any responsibility for independently verifying any of the information set forth herein, including any projections or statements about the prospects of the Property contained herein. PSALM does not make any representation or warranty as to the accuracy or completeness of this Profile or the information contained herein or any other written or oral communications transmitted to the recipient in the course of its evaluation of the Property. Only those particular representations and warranties, if any, which may be made to a party in a definitive written agreement regarding a transaction involving the Property, when, as and if executed, and subject to such limitations and restrictions as may be specified therein, will have any legal effect, and PSALM hereby disclaim all other representation and warranties. Neither the receipt of this Profile by any person nor any information contained herein or supplied herewith or subsequently communicated to any person in connection with a proposed transaction involving the Property is, or is to be, taken as constituting the giving of investment advice by PSALM to any such person. Each such person should make an independent assessment of the merits of pursuing a transaction involving the Property and should consult such person’s own professional advisors. PSALM may amend, supplement or replace any of the information contained in this Profile at any time, without giving prior notice or providing any reason. This Profile does not constitute a solicitation of bids for any transaction involving the Property. Bidding procedures are being distributed simultaneous with this Profile, and recipients may submit bids only in accordance with such procedures.

I. BACKGROUND

The subject property was the previous site of the defunct Laoag Diesel Power Plant (LDPP) which started its operation in 1959 by the National Power Corporation. The plant was composed of five (5) diesel units. The diesel units were old units from Ambuklao Hydro Electric Plant. The LDPP became defunct in 1976 due to the operation of the new Laoag Substation and was connected to the Luzon Grid to serve the Province of Ilocos.

II. LOCATION AND DETAILS OF THE SUBJECT PROPERTY The subject property is located at Barangay 21 San Pedro, Laoag City, Ilocos Norte, along P. Gomez St. The property is about 1.77 kilometers from Provincial Capitol of Ilocos Norte. It consists of one (1) lot with an area of Three Thousand Five Hundred Thirty (3,530) square meters, more less.

The lot details and are shown in Annex “A”, while copies of Transfer Certificate of Title and Tax Declaration are attached as Annexes “B” and “C” respectively.

III. GENERAL DESCRIPTION, ACCESS AND UTILITIES

The subject property is irregular in shape and have flat terrain with some vegetation. The subject property is gated, with portion of concrete road and

provided with perimeter fence. Access to the property is through P. Gomez street. The property is about 1.77 kilometers from Provincial Capitol of Ilocos Norte.

Electric power, water supply and telecommunication facilities are readily available at the site.

Figure 2: Used to be the site of Laoag Diesel Power Plant

Figure 3: Entrance to the property

Figure 4: Vegatation inside the Subject Property

IV. NEIGHBORHOOD

The immediate area where the subject property is located is for mixed development/built-up mostly for residential, light commercial, institutional, and agricultural. Near and almost adjacent to the subject property is the Land Transportation Office – Laoag District Office and almost in front of it is the Ilocos Norte Provincial Jail.

Notable establishments within the vicinity of 3-kilometer radius are as follows:

 Camp Capt. Valentin S. Juan Laoag City - a few meters from the Subject Property – approximately 0.24 Km from SP  Gov. Roque B. Ablan Sr. Memorial Hospital – approximately 0.32 Km from SP  Laoag City Hall – approximately 1.23 Km from Subject Property  Karmelli Hospital – approximately 1.30 Km from Subject Property  Sinking Bell Tower – approximately 1.77 Km from Subject Property  Ilocos Norte Capitol – approximately 1.77 Km from Subject Property  NGCP’s Laoag City – approximately 2.5 Km from Subject Property

Figure 5: Camp Capt. Valentin S. Juan Laoag City

Figure 6: Gov. Roque B. Ablan Sr. Memorial Hospital

Figure 7: Laoag City Hall

Figure 8: Karmelli Hospital

Figure 9: Sinking Bell Tower

Figure 10: Ilocos Norte Provincial Capitol

Figure 11: NGCP’s Laoag City

V. BRIEF HISTORY OF THE CITY

The subject property was located within the Laoag City. Unlike other localities with impressive legends as to how their respective names evolved, that of Laoag City, Ilocos Norte was simple. “Laoag” is an Ilocano word, which, in English means, “light”. In his “Diccionarios Geografico Estatistico Historico de las Islas Filipinas”, Buzeta, an Augustinian mission- ary, described Laoag as having a clear atmosphere which presents a beautiful sky. Un- doubtedly, this was the reason the place was given the name Laoag.

It can be said that the major significant event which led to the present status of Laoag City was the resettlement of the natives by the Spanish missionaries. In this resettlement, the gridiron pattern of Greco-Roman origin in laying out town was followed. First laid was the rectangle where the location of the plaza, church, convent, tower, “tribunal” and other edifices were erected. Thereafter, the laying out of rectangular street blocks followed suit. The laying out of the poblacion done. The indigenous population was prevailed upon to construct their houses in proper places within the reach of the church bells. Streets were laid from east to west forming approximately 450 street blocks in varied sizes. The poblacion was subsequently divided into barrios, each named after a patron saint. The actual year when Laoag was first organized as a Parish cannot be ascertained. Some Historical records, however, mentioned 1585 and 1586 as the date of the organization of Laoag as a Parish but the late Don Luis Montilla, former director of the National Library and of the Rizal Centennial commission said that he found unquestionalble documents in the National Archives that mention 1584 to be the real date of the organization of Laoag as a parish under the patronage of Saint William the Hermit, whose feast is celebrated on the 10th of February of every year. Laoag takes over from Sarrat as capital of Ilocos Norte in 1818. Though it was converted into a city in June 19, 1965 through a plebiscite, leaving its municipal status, it remained the capital of Ilocos Norte.

The political maturity prevalent in the locality will certainly catapult Laoag City to the center of international business arena. It is expected to play a very important role in the NORTHQUAD, the Gateway of East Asia.

The following are some of the pertinent maps obtained from City Planning and Development Office (CPDO) of Laoag City:

a. Base Map (Urban) [Annex “D”] b. Base Map (Rural) [Annex ‘E”] c. Hydrogeologic Map (Annex “F”) d. Contour Map (Annex “G”) e. Land Classification (Urban) [Annex “H”] f. Flood Prone Areas Map (Annex “I”) g. Erosion Prone Areas Map (Annex “J”) h. Landslide Prone Areas Map (Annex “K”)

VI. ZONING AND LAND USE Although, the subject property’s actual use is for Residential, it can be noted that some of the lots are still assessed for Residential use per available tax declarations though its actual use is already commercial. Pursuant to the Land Use Map Urban (Annex “L”) prepared by the City Planning and Development Office (CPDO) of Laoag City, the subject property falls within Built-up Areas.

VII. IMPROVEMENTS

1. Residential Building with Garage

2. Power Plant Structure

3. Old Office/Residence

VIII. GOVERNMENT VALUATION/ASSESSMENT

A. BIR Zonal Valuation

The zonal value of Residential Regular “RR” along P. Gomez Street, within Barangay 21 (San Pedro), Laoag City where the Subject Property is located is pegged at PhP 12,000.00 per sq.m., 4th Revision, effective as of 22 December 2017 (Annex “M”).

B. City Assessment

For the property assessment, lots within P Gomez St. (A Lampitoc St.- Biak na Bato St.) has a unit value of Php500.00 per square meter.

Per interview with the City Assessor, there is a proposal to increase the assessment level.

For CY 2017, PSALM has received a Real Property Tax Order of Payment from Office of the City Treasurer of Laoag, informing PSALM that the Real Property Tax payments due and payable for the year(s) 2015 to 2017 on the subject property is in the total amount of Ten Thousand One Hundred Eighty-Two and 15/100 pesos (PhP10,182.15), details of which is shown in Annex “N”.

LIST OF ANNEXES

ANNEX A: LOT DETAILS

ANNEX B: TRANSFER CERTIFICATE OF TITLE

ANNEX C: TAX DECLARATION (LAND)

ANNEX C-1: TAX DECLARATION (BUILDING 1)

ANNEX C-2: TAX DECLARATION (BUILDING 2)

ANNEX D: BASE MAP (GENERAL)

ANNEX E: BASE MAP (URBAN)

ANNEX F: HYDROGEOLOGIC MAP

ANNEX G: CONTOUR MAP

ANNEX H: LAND CLASSIFICATION MAP (URBAN)

ANNEX I: FLOOD PRONE AREAS MAP

ANNEX J: EROSION PRONE AREAS MAP

ANNEX K: LANDSLIDE PRONE AREAS MAP

ANNEX L: LAND USE MAP (URBAN)

ANNEX M: BIR ZONAL VALUATION DO No. 64 - 2017 RDO NO. 1-LAOAG CITY Effectivity Date 22-Dec-17

ANNEX N: REAL PROPERTY TAX ORDER OF PAYMENT