VIDEO: Preservation Trust Gets $4.3M to Restore the Old Legislature; Work May Begin Before Year’s End

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Guam – Work to repair and restore the old legislative building in Hagatna will begin within the next few months.

 

Governor Calvo this Friday afternoon presented a check for $4.3 million dollars to Preservation Trust Board Chairman Mike Makio.

The funds are part of the proceeds from last year’s hot-bond sale, which is also funding the Guam Museum to be built nearby

Senators B.J. Cruz, Tina Muna-Barnes, Aline Yamashita and Tony Ada were all on hand for the presentation.

Board Chair Makio said he was optomistc that ground would be broken before the end of the year

The Governor called it another important link in the revitalization of downtown Hagatna.

Another $5-million dollars is still needed to complete the job. Vice Speaker Cruz said that money will come from a GEDA loan which is still in the planing stages.

The loan will be repaid with proceeds from the rent paid by the Federal Government for its lease on the Hagatna Post Office which sits on land controlled by the Guam Legislature.

READ the Governor’s release in FULL below:

Governor restores funding to Guam Preservation Trust

FOR IMMEDIATE RELEASE
September 14, 2012

The Governor’s vision of a redeveloped Hagatna comes another step closer to reality today. Moments ago he restored the funding to the Guam Preservation Trust that will be used to reconstruct the historic Guam Congress Building.

“I promised the legislature I would push this through, and I’m making good on my promise,” Governor Calvo said. “But this is so much more important than the construction of a building. This is yet another step forward in our efforts to build a capital city we can all be proud of.”

This money originally was held by Guam Preservation Trust until the cash was spent elsewhere during the Gutierrez administration. Governor Calvo, himself a former senator, promised legislators he would restore the money.

The re-opening of the Guam Congress Building will mean the legislature will be able to move back to its historic home. This will have the effect of significantly reducing the amount of money senators use for office rental space each year.