SPECULATORS who buy up old buildings in in San Felipe and sit on them waiting for prices to climb, are under the gun.
The National Institute of Culture (INAC) has opened condemnation proceedings against multiple property owners in Casco Viejo.
People who have received notices are critical because they claim INACdoes not comply with due process and does not have a plan to value historic structures. La Prensa lists a recent case of the expropriation of a property in West 11thStreet, owned by the Panamanian Congregation of Jehovah's Witnesses.
The measure was adopted by 143-2013/DG/DAJ Resolution of May 7, 2013, for reasons of neglect and lack of a restoration plan. An official source revealed told La Prensa that since the beginning of the current administration condemnation proceedings have been opened against owners of 25 historic properties inthearea. However, many building owners complain that they are not notified and they claim the rules are not applied to everyone equally
According to Article 48 of the Constitution, only "for reasons of public utility or social interest as defined in the law,may there be expropriations by special trial and compensation".