GEDA board to finalize financing for Okkodo expansion

by Mindy Aguon

Guam - The Guam Economic Development Authority board will convene for a special meeting on Tuesday as they look to get the ball rolling for the financing of the Okkodo Expansion Project. GEDA financial services manager Lester Carlson says the $22 million expansion will almost double the size of the current school, provide traffic signalization that is sorely needed on Route 3 and include upgrades and expand the sports facilities.

The GEDA board has already adopted a resolution approving the sale of the certificates of participation but on Tuesday they will affirm that the Bank of Guam will be the sole local bank to buy the certificates.

Carlson says the transaction should be completed by the end of next week so that the expansion project can begin and be completed before the opening of school in August of next year.