Acting Governor signs legislation authorizing immediate transfer of land for affordable housing
FOR IMMEDIATE RELEASE
June 12, 2012
Land from the Sagan Linahyan subdivision was transferred from the Department of Land Management to the Guam Housing Corporation today as Acting Governor Ray Tenorio signed Public Law 31-215 just moments ago. This transfer marks another important milestone in the administration’s initiative to increase the inventory of affordable housing for Guam’s families.
The abandoned properties in the Sagan Linahyan subdivision are being transferred to the Guam Housing Corporation as part of the agency’s rehabilitation project. Once completed, the homes will be available for qualified applicants.
This transfer, though authorized in previous legislation, made the transfer effective with the enactment of the new law.
Affordable Housing Updates
The Chamorro Land Trust Commission is nearing completion of a Memorandum of Understanding establishing partnership with the U.S. Department of Agriculture to provide financing for the construction of home on CLTC properties.
The MOU, expected to be finalized in the coming months, will provide home loans from $59,000 up to $238,000 to help qualified applicants build homes on their CLTC property.
Agency officials from the US Department of Agriculture, the Guam Housing Corporation, the Department of Land Management and the Guam Housing and Urban Renewal Authority this morning gave a press briefing to provide important updates about the governor’s affordable housing initiatives.
In addition to the announcement of this loan opportunity, the government’s housing agencies announce the following important events:
Guam Affordable Housing Symposium
June 19 — 20, 2012
Hyatt Regency Guam
Guam Housing Expo
June 23, 2012
Father Duenas Memorial School Phoenix Center
Contact Natalie Quinata at 475-9309 or 488-6013 for more information.
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