The Department of CHamoru affairs is looking to upgrade the CHamoru village for the upcoming fiscal year.
PNC’s Damen Michael has this story
Melvin Wontpat Borja, Executive Director, Department of Chamoru Affairs stated, “though business incubators are conceptually great the reality is that when rental rates are so low to benefit business the cost doesn’t just disappear. It is usually subsidized by the government.”
During a budget hearing held yesterday, the Department of Chamorro Affairs requested approximately $2,074,396 dollars for the fiscal year 2023.
Melvin Won Pat Borja, Executive Director of the Department of Chamorro Affairs said that the CHamoru Affairs generates a majority of their revenue through rent at the Chamorro village, along with other fees that have been collected from the full opening of the Wednesday night market vendors.
According to Borja, the challenge with Chamorro Village operating as an incubator is that across the board even the most successful models of incubator operations. Incubators don’t traditionally make money they cost money.
The CHamoru village model is considered an old model that has not addressed the current increase in the cost of services and goods. Which then does not reflect on the current rental rates situation.
Borja said that going to “grease the wheels by upgrading the degraded facility.” Which DAC is competing for a grant to upgrade a number of issues for vendor facilities.
One of the possible renovations is to the concrete huts built for the festival of the pacific arts and culture where they look to enclose and renovate some of the huts to make them functional vendor stalls.
Damen Michael PNC News First.