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In 1972 President of Mexico, Attorney Luis Echeverria Alvarez enacted a decree to expropriate 1,026 hectares of land to form a Fideicomiso (trusteeship). The new Fideicomiso Puerto Vallarta was founded on January 25, 1973. In 1970, all common land that was expropriated from Vallarta was previously turned into Fideicomiso Bahía de Banderas. President Echeverria decided the two Fideicomisos working independently could accelerate accomplishing the same end results. His decision proved to be the most beneficial to Puerto Vallarta. The new fideicomiso brought new urban progress and the completion of previously planner tourism and housing developments.
Attorney Heladio Ramirez López was the first director of the Fideicomiso Puerto Vallarta. During his tenure, he made sure hotel owners, businessmen, investors, tenet farmers, and legal foreigners, would get their property titles back. This would entitle them as authentic property owners.
 On March 5, 1974, an important assembly took place at Los Pinos (Mexican White House). The meeting was presided over by President of Mexico, Head of The Agrarian Colonization Department, Attorney Augusto Gomez Villanueva; Governor of the State of Jalisco, Attorney Alberto Orozco Romero, Mayor of Puerto Vallarta, señor José Baumgarten Joya; President of Puerto Vallarta’s Commission of Common Land, señor Clemente Bañuelos Almaral; and Director of Fideicomiso Puerto Vallarta, Attorney Heladio Ramirez López.
Liz and Richard Burton were also invited to participate in the assembly. They were awarded merit recognition for promoting Puerto Vallarta to international levels.
The assembly marked a historical event in Puerto Vallarta. It was obvious that the harmony in progress depended very much on the importance of the legalization of land, and in federal investments to make public services feasible in order to create an infrastructure. This was vital to the disproportioned and fast growing development of Vallarta.
The completion of public works projects since the initiation of Fideicomiso Puerto Vallarta definitely transformed the physio-economic structure of Vallarta. All the projects were accomplished through the collaboration of respective governmental agencies such as La Secretaria de Marina (The Secretariat of Marines,) Comision Federal de Electricidad, (Federal Commission of Electricity) La Secretaria de Asentamientos Humanos y Obras Públicas, (Secretariat of Census and Public Works) and the City Hall.
The federal investments made in Vallarta through the Fideicomiso solved a great number of issues that afflicted the City. Among the completed projects a were a new sewer system, a water treatment plant, a submarine transmitter, and channeling of rivers and tributaries that caused major flood issues during monsoon season. The projects included the construction of new subdivisions, urbanizing new colonies, etc.
I must mention the special interest of our State Officials in the development of Puerto Vallarta. Vallarta had to be molded onto a more contemporary lifestyle due to its fast development. Our State Governos, Attorney Flavio Romero De Velasco, participated in the transformation of Vallarta taking direct change of programming many changes to take place.
In 1977, Attorney Alfredo Leal Cortes was named new director of Fideicomiso Puerto Vallarta. He accomplished the completion of many new projects with the collaboration of local people who always strived for a better future. Email to a friend
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