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DPL seeks Legislature’s approval of D&W lease extension bid

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THE Department of Public Lands is “respectfully” seeking the Legislature’s favorable and timely decision on the request of D&W Saipan Inc. for a 15-year extension of its land lease agreement with the CNMI government.

D&W Saipan is in its 25th year of lease agreement for a 3,000-square-meter parcel of public land in Gualo Rai. The 25-year land lease agreement was signed on Oct. 4, 1995 for the purpose of sales and services of general automotive products.

The CNMI Constitution mandates that requests for land lease extension be submitted to the Legislature for review and consideration. 

DPL acting Secretary Irene T. Torres submitted to Senate President Victor Hocog and Speaker Blas Jonathan Attao “a complete packet of documents pertinent to the lease extension request” of D&W Saipan.

She said D&W has maintained a good relationship with the government; is compliant with the provisions of the lease agreement; and has kept its account current.

If granted a 15-year extension, D&W will pay a 5% increase in its current annual base rent or 5% of the appraised market value of the improved land, but not be less than the rate paid by the lessee during the preceding five-year period, and a percentage of its business gross revenue.

In addition, D&W agrees to give the manamko’ a 20% discount on automotive parts, products or maintenance services.

Torres told the presiding officers of the Legislature that their “fair consideration is respectfully sought regarding this vital request from D&W Saipan Inc. and we hope for a favorable and timely decision.”

 

November 2020 pssnewsletter

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