GEDA analyzing CoreTech lease and options - KUAM.com-KUAM News: On Air. Online. On Demand.

GEDA analyzing CoreTech lease and options

by Ken Quintanilla

Guam - Before any final decision is made regarding the CoreTech facility in Tiyan, the Calvo Administration is currently evaluating what it can afford and whether the government is getting the most for its money. While the faculty and staff of Untalan Middle School wait on official word from the DOE and Adelup on whether they'll be making a temporary move to Tiyan, the Administration is working to ensure that any agreement made makes fiscal and rational sense.

Today, the Administration requested from the Guam Economic Development Authority to review particulars in the lease agreement with CoreTech. GEDA administrator Karl Pangelinan told KUAM News, "So what we're doing is taking a look at some current market analysis, taking look at some comparables in terms of the facilities and what it can be used as."

The Administration has said that using the facility for educational purposes would be their top priority. CoreTech has said the property in Tiyan is ready for immediate use and is working with the government to finalize a plan. The contract was reinstated shortly after the governor terminated the lease back in June.

"They've abated the rent, since the governor reinstated the lease shortly after he terminated it, so right now the government is not paying any rent at all while we're in this negotiation phase," he added. Pangelinan further stated that with the government's financial situation, it doesn't seem financially feasible to purchase the property but the Administration is reviewing all of the options in the contract including the termination clause and how much CoreTech is asking on an annual basis.

During Friday's meeting with Untalan Middle School stakeholders, concerns were raised about logistics and the cost to physically move the campus to Tiyan. Pangelinan says progress has been made and they're closer than they were last week, noting, "There are schools that need to get worked on, there's issue of overcrowding, and there's a number of potential tenants, we just need to evaluate what would be the best fit into the facility for how much we're paying for it."

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