by Ken Quintanilla

Guam - After months of debate, the Port Authority of Guam received validation of their position that the condition of the waterfront isn't as bad as the U.S. Maritime Administration believed. Port board chair Dan Tydingco says they met with MARAD officials today and reviewed a draft risk assessment report that affirmed the Port's position.

Tydingco says this means the port is ready to proceed with uplands improvements with $50 million in federal funding. "The good news is that all of the $50 million, $5 million of which will go down to the waterfronts for immediate mitigation repair work, and the other $45 million is going to start to commence here shortly for the upland improvements," said Tydingco.

Tydingco says whether the Port will need another $10 million to kick-in from a separate loan facility will be determined shortly. If everything goes well, he says an environmental study should be done by September. The board meanwhile is scheduled to meet next Tuesday to review a draft sales agreement for the acquisition of cranes from Horizon and Matson.