Developer's lots in Gill-Baza could be sold - KUAM.com-KUAM News: On Air. Online. On Demand.

Developer's lots in Gill-Baza could be sold

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by Mindy Aguon

Guam - Residents of the problem-plagued Gill-Baza Subdivision are hoping to sell all of Cyfred's interest in 85 lots during a public sale on Tuesday.  The proceeds from the sale would go toward the installation of a sewer system, as Cyfred and owner Francis Gill have failed to pay a single dime of a more than $750,000 judgment issued three years ago. 

The lots will be sold Tuesday morning at 10 at the Yigo Mayor's Office.  The residents' attorney, Wayson Wong, says if the lots do not sell his clients will take whatever collateral they can obtain and go to the U..S Department of Agriculture and attempt to get a loan for the subdivision sewer lines.  If that doesn't work, they will attempt to buy the interest in the lots themselves and then consolidate the properties to half acre lots so they can build septic tanks.

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