2 Former Landowners Think GovGuam Should Pay $300M for Layon Land; Their Own Expert Says Its Worth No More than $31M

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Guam – Former Governor Paul M. Calvo and Joaquin C. Arriola think GovGuam should pay $300 million dollars to the former property owners of the land now being used to construct the new Layon landfill. However their own off-island real estate appraiser has testified at deposition that the value for “just compensation” is only $30.5 million.

The disparate valuations appear in Assistant Guam Attorney General Kathy Fokas status report on the condemnation case that led to GovGuam’s acquisition of the property..

In her report, Fokas writes that “during depositions of the property owners, Mr. Joaquin C. Arriola and former governor Paul M. Calvo testified that in their opinions, GovGuam should pay the Property Owners $300 million as just compensation for its acquisition of the Property in Inarajan.” 

Fokas also notes that Mr. Leonard Calvo testified that in his opinion, “just compensation is $161 million.”

However Fokas writes that “the property oweners’ off-island real estate appraiser has testified at deposition that the value for just compensation is $30,577,547.00”

Read Fokas’ Status Report

In addition, GovGuam’s 2 Guam based “independent” real estate appraisers have testified that the property should be valued at either “$3,494,000.00 and $5,900,000.00, respectively.”

The condemnation case is being heard in Guam Superior Court, but Fokas’ status report was filed Monday in Guam’s District Court as part of the record in the Solid Waste Federal receivership case. Judge Francis Tydingco-Gatewood, who is overseeing the Federal receiver’s construction of the new dump in Layon, has asked to be kept up to date on the Superior Court condemnation case.

The property in questions measures over 1-million 346-thousand square meters in size.

The Federal Court ordered GovGuam to acquire the property in question through emanate domain, a process which was completed in January 2008. GovGuam in turned released about $3.4 million compensation to the property owners.

There are 10 known former property owners and an undetermined number of unknown former property owners.

Those former property owners are:

1.   Oxford Properties and Finance
2.   Calvo’s Insurance Underwriters
3.   Joaquin C. Arriola
4.   Jones & Guerrero Company
5.   Alfred C. and Diana Z. Ysrael
6.   Lee M. and Joan S. Holmes
7.   Henry Sy
8.   Valencia Investments Corporation
9.   Douglas F. Cushine
10. Young Chull Kim
11. Unknown former owners

A trial date in the condemnation case has been set for February 14th in Superior Court.