AN ORDINANCE AUTHORIZING THE EXPROPRIATION OF THAT PARCEL OF LAND WITH AN AREA OF 3,569.6 SQUARE METERS, MORE OR LESS, OWNED BY A.V.R. BROKERAGE CORP., AND COVERED BY TCT NO. 32268 SITUATED AT VILLAFOJAS ST., GAGALANGIN, TONDO, MANILA, FOR AWARD TO QUALIFIED ACTUAL AND BONA FIDE TENANTS, OR OCCUPANTS THEREAT, APPROPRIATING THE AMOUNT OF FIVE MILLION PESOS (PHP 5,000,000.00), OR SO MUCH THEREOF AS MAY BE NECESSARY, SUBJECT TO AVAILABILITY OF FUNDS AS CERTIFIED TO BY THE CITY TREASURER: PROVIDED, HOWEVER, THAT THE AMOUNT EQUIVALENT TO FIFTEEN PERCENT (15%) OF THE ZONAL VALUATION OF THE PROPERTY, IS HEREBY SET ASIDE FROM THE LUMP SUM APPROPRIATION OF FIFTY MILLION PESOS (PHP 50,000,000.00) FOR THE ACQUISITION OF LANDED ESTATES (LAND-FOR-THE-LANDLESS PROGRAM OF THE CITY OF MANILA) AS PROVIDED FOR IN THE EXECUTIVE BUDGET.
