GEDA goes back to NYC - KUAM.com-KUAM News: On Air. Online. On Demand.

GEDA goes back to NYC

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by Sabrina Salas Matanane

Guam - Guam Economic Development Authority officials are back in the Big Apple this week hoping to take a second bite at pricing hotel occupancy tax bonds. GEDA administrator Karl Pangelinan says the pricing is expected to occur again this week and the actual sale should be wrapped up before the end of the month.

Last week the GEDA board gave a pre-award of a trustee request for proposal to the Bank of Guam after the first company that was given the contract was unable to perform to the minimum specifications. The sale of the bonds is expected to generate more than $80 million for the construction of a cultural and convention center as well as to go toward the repair of various tourist attractions.

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