Guam – In the name of transparency and parity, the GEDA board has adopted a set of guidelines to administer the funds it holds in a trust for community contributions of Qualifying Certificate beneficiaries.
With over $1M dollars held in a trust account for improving our local community, GEDA yesterday announced eligible purposes that these funds could be expended on. Of the two beneficiaries of Qualifying Certificates, GRMC is required to make an annual contribution of $1 million. The million dollars from GRMC must be spent equally on the following purposes:
- $250 thousand on Health Care (with a priority to GMH & Public Health), Medicaid matching and MIP payments
- $250 thousand on Public Safety
- $250 thousand on Economic Development with priority on the promotion of Medical Industry and Small Business
- $250 thousand on Higher Education and Cultural Preservation
TNN Guam Inc. dba Tsubaki Hotel Guam in order to receive their Qualifying Certificate, is required to make an annual contribution of $137,236.22 . This amount is to be spent equally on the following three areas:
- Tourist attractions or Tourism Projects (including maintenance and upkeep)
- Economic Development with priority on promotion of the Medical Industry and Small Business,
- Higher education and Cultural Preservation
According to GEDA Administrator Jay Rojas, “GEDA did not previously have guidelines for community contributions. These are the first community contributions guidelines adopted by the board. Contribution requests were vetted/awarded on a first come first served basis and presented to the board.” Rojas adds that GEDA does not identify entities to receive the contributions, yet entertain requests (in writing) from the community for funding. In general the program should be comprehensive and support the benefit of the entire island.
GEDA will be publicizing public notices for these grant funds on their website. In order to qualify for these grants, applicants must meet the following criteria:
- Applicant must submit request in writing
- Request must be made for a specific purpose and must be identified in the request letter
- Grant funds cannot be awarded to an individual or for business profit business.
- Grant funds cannot be used for salaries and employee benefits.
- The GEDA Board Directors must approve all request unless approval delegated to GEDA Administrator.
- GEDA required Government awardees to conform to Government of Guam Procurement Law.
- Non-governmental awardees must at a minimum provide 3 vendor quotes for item to be purchased.
- Event sponsorships funded with grant funds is limited to $10,000.
- If grant approved, awardee must publicly acknowledge QC contributor.
- GEDA will not consider more than one grant request from the same applicant in a twelve (12) month period.