Ysrael continues criticism of CoreTech contract - KUAM.com-KUAM News: On Air. Online. On Demand.

Ysrael continues criticism of CoreTech contract

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by Sabrina Salas Matanane

Guam - Local multimillion dollar developer Al Ysrael continues his criticism of the CoreTech contract which as approved by the Attorney General's Office on Christmas Eve. As we reported GovGuam is looking to buy the property where the charter school and temporary Untalan Middle School sits. Ysrael calls the contract a boondoggle and quote "this looks like a scam". On Christmas Day he sent a letter to Governor Eddie Calvo and Speaker Judi Won Pat who chairs the Committee on Education. Both are off island. Ysrael cites an appraisal conducted by local appraiser Nick Captain who appraised the Tiyan property at $11 million in 2007. He questions how the land increased in value from $50 million to $100 million. According to Ysrael, he questions that in the governor's absence who is "making this horrendous decision in behalf of the Government of Guam". He added, "That's a lot of influence that somebody has". As we reported Ysrael has submitted an alternative. He's submitted a proposal to build a new central high school which he says can be built under $30 million under private supervision. He says that's significantly less than the $245 million tax credits CoreTech would be receiving if GovGuam signs the Tiyan deal.

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