Guam – The Governor’s office has announced that the Chamorro Land Trust Commission has successfully collected more than $191-thosuand dollars in back lease payments owed to the CLTC.
The lease payments had gone uncollected for 6 years, according to a release from Adelup. The funds will be used to help pay for the infrastructure needed to bring water, power and sewer hookups to CLTC residential lease holders.
The Governor points out that “businesses are making profits off the Chamorro Land Trust leases they hold,” and he thanked Land management Director Monte Mafnas and Mike Borja for their aggressive efforts to collect lease payments especially “because these payments fund water and wastewater infrastructure for our families applying for residential leases.”
READ the release from Governor Calvo below:
“Businesses are making profits off the Chamorro Land Trust leases they hold, yet in the past there weren’t efforts made to collect payments for using that land. Our CLTC leadership knows this is wrong, especially because these payments fund water and wastewater infrastructure for our families applying for residential leases. I thank Monte Mafnas and Mike Borja for remembering the true spirit of the CLTC, and assure the public more work will be done to help our landless families.” – Governor Eddie Baza Calvo
Full lease payment from GICC collected, 1st time in six years
As part of its aggressive collection efforts, the Chamorro Land Trust Commission has received $191,501.24 from the Guam International Country Club. This business is located on CLTC land, and has been in arrears with the commission for six years until this payment was collected. CLTC Executive Director Monte Mafnas and Chairman Mike Borja led the efforts to recover this money.
Lease money pays for infrastructure to CLTC properties
Commercial lease payments fund important improvements for CLTC properties. For instance, the $20,000 a month GICC pays will go a long way to pay for the installation of infrastructure (water, wastewater, power, etc.) on CLTC land, to make it available for residential leases.