Bill authorizes Guam International Raceway Park lease for half-c - KUAM.com-KUAM News: On Air. Online. On Demand.

Bill authorizes Guam International Raceway Park lease for half-century

Posted: Updated:
Courtesy: guamraceway.com Courtesy: guamraceway.com

Motor sports enthusiasts turned out in force Wednesday night at a public hearing on a bill to authorize a new 50-year lease for the Guam International Raceway Park. The Guam Racing Federation has plans to improve the Yigo facility, which has been the hub for one of the island's most popular past-times.

"The island would be best served by a single location that could have motorcycle racing, off road racing, drag racing, and the Guam grand prix. And so the idea for the Guam International Raceway was born," explained Michael Borja, executive director of the Chamorro Land Trust Commission. That was 20 years ago, when the lease and construction of the current park was approved by law. The racing federation is seeking a long term renewal of the land trust property now that the lease has expired.

Borja says they're ready to negotiate, adding, "We just want to make sure that in a commercial lease agreement such as this, especially one that's being asked to go 50 years, that the terms of those agreements either be codified in statute so that the terms of the agreement have full authority 20, 30, 40 years from now so we don't encounter any kind of issues with the lease agreement."

Bill sponsor Senator Tom Ada says the deal will be guided by the trust's commercial rules and regulations, and senators concerns over specific issues such as who gets what from the extraction of coral and topsoil when the property is further developed must still be decided. Long time racing enthusiast Henry Simpson of the federation explains they've got big plans.

He said, "This 50-year lease will allow us to bring in other associated businesses such as a gas station for regular and racing fuel, warehousing for race cars, driving schools and other associated ventures that will utilize the track for our tourists, local residents and military alike."

The track will host the 40th anniversary next year of the island's biggest and most popular racing event, Smokin' Wheels.

  • NEWS HEADLINESMore>>

  • Guam's chief medical examiner retiring at end of January

    Guam's chief medical examiner retiring at end of January

    25 years as Guam's doctor for the dead. Chief Medical Examiner Dr. Aurelio Espinola will retire at the end of January 2019 and move back home to the Philippines. In his honor, lawmakers presented him with a resolution early Monday. Senator James EspaldonMore >>
    25 years as Guam's doctor for the dead. Chief Medical Examiner Dr. Aurelio Espinola will retire at the end of January 2019 and move back home to the Philippines. In his honor, lawmakers presented him with a resolution early Monday. Senator James Espaldon More >>
  • UOG grads encouraged to find fighting spirit

    UOG grads encouraged to find fighting spirit

    257 graduates walk the stage during the University of Guam's Fanuchanan 2018 Commencement ceremony on Sunday. That's 199 undergraduates and 58 graduate students, each of whom was encouraged to find their fighting spirit. During his keynote address, humanMore >>
    257 graduates walk the stage during the University of Guam's Fanuchanan 2018 Commencement ceremony on Sunday. That's 199 undergraduates and 58 graduate students, each of whom was encouraged to find their fighting spirit. During his keynote address, human More >>
  • Man arrested for allegedly raping girl multiple times

    Man arrested for allegedly raping girl multiple times

    A 29-year-old man is accused of sexually assaulting a young girl known to him multiple times. Raimundo Satur Ludwig is charged with three counts of first degree sexual conduct. Court documents the child brought up the sexual attacks after showing up to scMore >>
    A 29-year-old man is accused of sexually assaulting a young girl known to him multiple times. Raimundo Satur Ludwig is charged with three counts of first degree sexual conduct. Court documents the child brought up the sexual attacks after showing up to scMore >>
Powered by Frankly