GALC discusses Land Bank Trust rules - KUAM.com-KUAM News: On Air. Online. On Demand.

GALC discusses Land Bank Trust rules

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by Mindy Aguon

Guam - The Guam Ancestral Lands Commission continues efforts to implement a law that was enacted more than a decade ago. Commissioners met this afternoon to go over draft rules and regulations for the GALC Land Bank Trust, which seeks to provide compensation to landowners whose land was taken by the federal government. 

It's clear though there's still much more work to be done before any landowners see any sort of money. Commissioner Maria Cruz told KUAM News, "We need to have a database with all of the applicants, with their lot numbers and the date they submitted their applications, so that's how we can work within the timeframe and to be fair to those who have met the deadlines and submission of their application."

Commissioners meanwhile are waiting on their legal counsel's opinion on whether the value of land will be determined at the time it was taken by the federal government or at the current market value.  They are also working on a timeframe to determine eligible beneficiaries.

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