Senator Saint Augustine pitches CLTC financing changes; CLTC board member raises limits and rent concerns
Bill 305-38 would let the Chamorro Land Trust Commission grant financing-driven lease extensions and lender accommodations to make leaseholds mortgageable; a CLTC board member testified he could not support the bill without addressing term lengths, rent-rate policy and infrastructure-cost language.
The full story
Senator Saint Augustine told the committee that Bill 305-38 is aimed at making land under Chamorro Land Trust Commission (CLTC) holdings financeable without transferring ownership of the land, allowing project financing for housing, commercial development and renewable energy projects.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in