The Bases Conversion and Development Authority (BCDA) was created by virtue of Republic Act No. 7227, otherwise known as the Bases Conversion and Development Act of 1992. This was signed into law by then President Corazon C. Aquino on 13 March 1992 to facilitate the conversion of former US military bases and Metro Manila camps into productive civilian use.

For the past 15 years, the BCDA continues to be at the forefront of development in the country. It continues to be a formidable partner of the national government in nation building through the sound conversion and reliable stewardship of former US military bases and Metro Manila camps.

It continues to remain faithful to its mandate of:

• accelerating the sound and balanced conversion of the Clark and Subic military reservation and their extensions-John Hay Station, Wallace Air Station, O' Donnell Transmitter Station, San Miguel Naval Communications Station, and Capas Relay Station-into productive civilian use;
• raising funds from the sale of portions of Metro Manila military camps and apply such funds for the development and conversion to productive civilian use of the baselands covered under the 1947 Military Bases Agreement between the Philippines and the United States of America, as amended; and
• promoting the economic and social development of Central Luzon in particular, and the country in general.