Impact Developer & Contractor's reaction following the blocking of the road located on Vadul Moldovei street

Given recent actions to ban car traffic on the road located on Vadul Moldovei Street, Bucharest, Sector 1, by closing it with a barrier, as well as the delay by the Bucharest City Hall the necessary procedures for its transfer from the public domain of the Romanian State, administered by Romsilva, to the public domain of Bucharest Municipality, IMPACT DEVELOPER & CONTRACTOR SA, makes the following clarifications:

Over time, being aware of the disadvantages and impact of restricting public access to the Road, the Bucharest Municipality and Romsilva, with the cooperation of other authorities such as the Ministry of Environment and Sector 1 of the Bucharest Municipality, have tried to identify solutions to unblock this situation.

Thus, in the period 2017-2018, a series of decisions were adopted by the General Council of Bucharest Municipality and by the Local Council of Sector 1 Bucharest, which aimed at measures taken to unblock the situation regarding the Road. Meetings took place between the representatives of the involved authorities, opinions were issued by the Romsilva administration council for the transfer of forest roads and related lands from the public property of the Romanian State and under Romsilva's administration to the public property of Bucharest Municipality, and a usage contract was concluded between Romsilva and Sector 1 of Bucharest Municipality, concerning the public use of two forest roads by vehicles.

Furthermore, in support of this initiative, IMPACT donated three plots of land with a total area of 6,000 sqm and a value of 800,000 euros (excluding VAT), located within the urban area of Sector 1 of Bucharest Municipality, for the purpose of carrying out the formalities for the transfer of the Road from the public domain of the Romanian State – under the administration of Romsilva, to the public domain of Bucharest Municipality.

The General Council of Bucharest Municipality accepted the donation with charges and approved the conclusion of the donation contract, subject to obtaining Romsilva's agreement..

On May 18, 2018, Romsilva issued the opinion regarding the acceptance of the donation.

The Municipality of Bucharest accepted the offer on June 13, 2018.

By accepting the donation, Bucharest Municipality undertook to provide Romsilva with the land received from IMPACT as compensation, in order to open public access to the Road, between Privighetorilor Alley and Pădurea Pustnicu Road.

Subsequently, on September 20, 2019, Romsilva issued the approval for the definitive removal of the 3,009 sqm land from the forest fund owned by the Romanian State for the construction of the access road – beneficiary Bucharest Municipality, as well as for the introduction into forest management, as equivalent compensation, of the donated lands.

Despite the above, the authorities involved in this process, without legal justification, have ceased to carry out the necessary formalities to allow public access to the Road, and to fulfill the procedures necessary for the transfer of the Road from the public domain of the Romanian State – under the administration of Romsilva, to the public domain of the Municipality of Bucharest.

More specifically, the Bucharest Municipality has not yet fulfilled its obligation to carry out the task as assumed in the donation contract.

During 2022, IMPACT notified all involved institutions in order to compel the Bucharest Municipality, through the General Mayor, to finalize these steps. The current situation is the result of the General Mayor's passivity, as he refuses to finalize the aforementioned steps.

At this moment, the General Council of Bucharest Municipality must request the Romanian Government to issue a decision by which the free transfer of the road from the public domain of the Romanian State, managed by Romsilva, to the public domain of Bucharest Municipality, managed by the General Council of Bucharest Municipality, is established, and to pay the applicable fees for the definitive removal of the land from the national forest fund.

Otherwise, IMPACT will be forced to initiate legal action to obtain access to this road, for the benefit of the over 6,500 residents in the vicinity.

Under these circumstances, the only authorities capable of restoring a legal situation will be the courts. Although we cannot guarantee the finality of our efforts, as the courts will be sovereign in their judgment, we are confident that we will prevail.

Furthermore, IMPACT has made all necessary efforts in recent years to build three additional access routes to the Greenfield Băneasa complex. To this end, our company has acquired land, invested in technical projects, and prepared and submitted documentation. All three projects have been awaiting the authorities' approval for four years, with delays in their responses recorded in each of the following cases.

The three projects are in various stages of approval, as follows:

• The most advanced project involves the construction of an access road connecting the northern part of Teișani Alley to the Bucharest Ring Road via an off-ramp located under the Cable-Stayed Bridge on the Bucharest Ring Road. To build this access road, IMPACT purchased a 4,150 sq m plot of land and, in January 2022, submitted all necessary documentation, including all required approvals, to the Bucharest City Hall to obtain the Chief Architect's approval. After receiving this final approval, the project will receive final approval from the General Council of Bucharest Municipality.

• The second project concerns the creation of an access road through Teișani Alley in the northern area, specifically from marker km 1+970 to km 13+987, which will be located in the Greenfield Plaza commercial center area, more precisely near kilometer 14 of the Bucharest Ring Road. To commence construction, IMPACT must still obtain approval from the Network Coordination Commission within the Bucharest Municipality City Hall, where the necessary documentation was submitted back in October 2020. After obtaining this, IMPACT will submit the entire documentation to the Bucharest Municipality City Hall to obtain the Chief Architect's approval, after which the General Council of the Bucharest Municipality will approve it.

• The third project targeted by IMPACT concerns the arrangement of intersections between Teișani Alley and the DN1 ramp, as well as between the DN1 ramp and the Bucharest Ring Road. This traffic solution would not only improve access for residents of the Greenfield Băneasa neighborhood but, according to studies conducted, would also ease the overall traffic in the Pod Otopeni area on DN1, an area that currently frequently experiences traffic jams and significant queues. To carry out this project, IMPACT has acquired a 1,000 sqm plot of land, currently part of the forest fund. As early as December 2020, IMPACT informed CNAIR about the traffic solution it wishes to provide, CNAIR being the only institution that can request the removal of the land provided by IMPACT from the forest fund.

In over 30 years of experience in the Romanian real estate market, IMPACT has ensured the well-being of residents in the complexes it has built, both through the high quality of the housing and through the positive impact on people's lives, developing communities with an emphasis on sustainability, efficiency, and generating added value for all parties involved.