Aguon legislation finances GMH labor & delivery ward - KUAM.com-KUAM News: On Air. Online. On Demand.

Aguon legislation finances GMH labor & delivery ward

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The longstanding delay to renovate the labor and delivery ward at the Guam Memorial Hospital has forced one senator to introduce legislation that would get the project going.

Sen. Frank Aguon's Bill 355 would create an interest free, financing mechanism that will help renovate the long awaited Labor and Delivery Ward at GMH. This is a similar program that has been used in the past for such projects as the repairs of the Harmon Industrial Park Roadway, among others, which allows the private sector to front the monies in lieu of various forms of tax credits over several years.

Because the local government has not been able to secure the bridge financing to pursue the $9.2M in funds approved in 2016 by the United States Department of Agriculture for this project, the Guam Legislature must seek alternative measures to secure the funding.

The legislation will cap the government's tax credits at no more than $2.3M annually, up to four years, interest free.

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