GEDA responding to Morrison's southern development law - KUAM.com-KUAM News: On Air. Online. On Demand.

GEDA responding to Morrison's southern development law

Posted: Updated:
 by Ken Quintanilla

Guam - The Guam Economic Development Authority is welcoming interested developers and contractors to take advantage of a decades-old law to help with development of homes in the southern part of the island. This comes just as Senator Tommy Morrison recently wrote to GEDA requesting for an update on a public law authored by then-senator Kaleo Moylan.

GEDA administrator John Rios said, "Public Law 25-124 has been in existence since 2000 and what it does is it provides tax rebates, for contractors and developers that plan to build down in the southern villages. We have not received any applications, but the law basically states these contractors will come into GEDA and apply for this, similar to a QC, so right now we have not received any applications for it."

Rios says the law provides a 50% tax rebate for corporate taxes and 50% rebate for income tax. To his knowledge, he does not believe GEDA has turned down any applications. Morrison states that previous data showed southern residents had to pay the brunt of construction costs by an additional 10% compared to the northern and central parts of Guam, because they lived too far from vendors.

  • NEWS HEADLINESMore>>

  • Accused ATM skimmer didn't understand his rights, says defense

    Accused ATM skimmer didn't understand his rights, says defense

    Of all the Italian speakers on island, defense argues authorities used the wrong one. Public defender Rocky Kingree, in his filing earlier this week, resubmits his argument that his client, Nicola Marinelli, did not fully understand his rights when he repMore >>
    Of all the Italian speakers on island, defense argues authorities used the wrong one. Public defender Rocky Kingree, in his filing earlier this week, resubmits his argument that his client, Nicola Marinelli, did not fully understand his rights when he repMore >>
  • $2M in compact impact funding coming Guam's way

    $2M in compact impact funding coming Guam's way

    Guam will get another $2 million in compact impact funding. In a news release, the U.S. Interior department said the money can be used to help defray the educational impacts of migrants from the freely associated states. Guam and Hawaii were the most heavMore >>
    Guam will get another $2 million in compact impact funding. In a news release, the U.S. Interior department said the money can be used to help defray the educational impacts of migrants from the freely associated states. Guam and Hawaii were the most heavMore >>
  • One step closer to tuition-free trade school education

    One step closer to tuition-free trade school education

    The island is a step closer to tuition-free trade schools and colleges. The administration announced the awarding of a $1 million Department of Interior grant to fund education and training for 193 students on Guam who graduated in 2017 and 2018. The moneMore >>
    The island is a step closer to tuition-free trade schools and colleges. The administration announced the awarding of a $1 million Department of Interior grant to fund education and training for 193 students on Guam who graduated in 2017 and 2018. The moneMore >>
Powered by Frankly