1. It is a partnership between the landowner and the developer wherein the former contributes his rawland while the latter undertakes and finances all the costs to convert the land into a finished homesite.
2. On the part of the landowner, joint venture is resorted to when he does not have the funds or cannot secure financing for the development of the project. On the part of the developer, joint venture is an option to avoid the cost of site acquisition.
Obligations Of Landowner:
1. Make available the title, tax declaration, and other documents to enable the developer to prepare the plans, procure government approvals, and implement the development.
2. Not to sell, encumber, or otherwise dispose of the land without the knowledge and consent of the developer.
3. Assign to the developer the lots/units pertaining to the latter, in case sharing is by allocation of lots/units.
Undertakings Of Developer (At His Expense)
1. Feasibility study
2. Preparation of plans
3. Relocation, topographic and subdivision surveys
4. Procurement of government approvals.
5. Completion of development, utilities and amenities
6. Maintenance and upkeep of project facilities prior to turn-over
7. Progress report to landowner
8. Marketing and collection
9. Remittance of owner's share, if sharing is from sales proceeds.
The 1992 Earth Summit in Rio de Janeiro sent a clear message that the issues facing urban centres in the developing world were too important and too great in scope for governments to address them acting alone - new partnerships would have to be forged with the private sector. Agenda 21 talked aggressively about "public-private partnerships", stating that the public and private sectors "should strengthen partnerships to implement the principles and criteria for sustainable development," and the public sector "should establish procedures" to allow for an "expanded role" for the private...