Dynamic Builders and Construction Co. Inc. is giving up its 50-year lease on the site of the old Provincial Administration Center (PAC) along Aguinaldo Street and North Capitol Road in Bacolod City, which is owned by the Negros Occidental provincial government, Gov. Eugenio Jose Lacson said Tuesday, Oct. 13.
The agreement, inked during the administration of former governor Alfredo Marañon Jr. was for the lease of the 6,485-square-meter lot, which was to be developed into a multi-use high-rise building.
It was signed by Marañon and Dynamic Builders president Ricardo Yanson Jr. on Sept. 10, 2018.
Lacson said the contractor has already expressed that he will not push through with the lease, and he is awaiting a formal letter to make it official.
A new bidding for the lease of the property could be conducted unless the provincial government decides it needs to construct another building of its own on the site, Lacson added.
Meanwhile, Dynamic Builders assured that it will complete construction and turn over the new Provincial Administration Center along Aguinaldo Street by December, Lacson said.*
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