Old legislature building renovations progress - KUAM.com-KUAM News: On Air. Online. On Demand.

Old legislature building renovations progress

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by Ken Quintanilla

Guam - Efforts to finalize the loan for the renovation and refurbishment of the old Guam Legislature building is another step closer to reality. GEDA's financial service manager Lester Carlson tells KUAM that the loan documents between the Government of Guam and the Bank of Guam were recently signed off by Governor Eddie Calvo on behalf of the Government of Guam. He adds today it was transmitted to the attorney general for signature before being sent to the speaker's office and then to the governor one last time before being finalized.

Once the loan documents are finalized, the legislature will enter into a memorandum of understanding with the Guam Preservation Trust who will then take the lead on the project. While the loan is for $4 million, the Guam Preservation Trust will be putting up an additional $3.5 million. As for why the loan process has taken some time, the legislature's executive director Vince Arriola tells KUAM that this is the first time the legislature has taken on a loan of this venture.
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