GEDA board to meet on $15.7M loan - KUAM.com-KUAM News: On Air. Online. On Demand.

GEDA board to meet on $15.7M loan

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by Sabrina Salas Matanane

Guam - Guam Economic Development Authority administrator Tony Blaz is hoping to close the chapter on a loan for the Department of Land Management. Blaz told KUAM News today that, the board will act tomorrow on a $15.7 million loan to build a new DLM building, something he says has been unresolved for quite awhile.

Meanwhile, the issue involving the Guam Shipyard's request to validate a qualifying certificate that had been deemed invalid may also be discussed, according to Blaz. GEDA board chair Ric Duenas requested a report on the issue. The qualifying certificate issue has resurfaced as the Guam Shipyard is working with GEDA to extend its current lease and make a submission to the navy's request for expression of interest for the lease of the property as GEDA and the Shipyard's leases expire in September 2012. 

The Shipyard's QC was determined invalid because handwritten changes made by then-governor Carl Gutierrez were not approved by the board. Tuesday's GEDA meeting is scheduled for 10 in the morning.

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