Guam - The Guam Economic Development Authority went before lawmakers today to give a status update on several projects under its purview through the Hotel Occupancy Tax Bond.
The Committee on Appropriations hosted the roundtable in which chairman Senator Ben Pangelinan questioned GEDA's Real Property Division manager Larry Toves on whether the projects funded and listed in order or priority were in fact adhering to the statute.
"We looked at all the projects and we tried to come up with the system and a way as to how we can get those projects that needed the most immediate attention done with funds available," he said.
Several projects under the HOT Bond include the Guam and Chamorro Educational Facility, the Plaza De Espana, and the San Vitores Road flooding mitigation, which according to GEDA is budgeted at $11.5 million more than double the original estimate. A professional assessment was done in the Tumon area during the rainy season with its findings set to be released early next month.
Professional engineering for the project meanwhile should be completed by January next year.