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THE Chamorro Land Trust Commission is about done with its memorandum of understanding with the U.S. Department of Agriculture; they can now start giving loans to families living on CLTC properties.
During a media briefing yesterday at the Governor’s Office, Steve Cruz, of the USDA, and Department of Land Management Director Monte Mafnas said the loans range from $59,000 up to $238,000 for qualified applicants.
Mafnas said they already received 3,000 names for pre-qualification for the loan, which is 100 percent financed.
In fact the first family to receive a loan – Vicente Cruz, 59, and Bernadita, 45, both of Yigo – were present at the briefing.
Vicente’s family has been living on CLTC property for nearly 20 years. The land was once leased by his late mother Maria Cruz until she passed away in the 1990s and then he took over.
The family wants to build a concrete home to replace the wood and tin structure they're currently living in.
Other matters discussed included the transfer of land at the Sagan Linahyan subdivision from the Department of Land Management to the Guam Housing Corporation in relation to the signing of Public Law 31-215 by acting Gov. Ray Tenorio.
GHC assistant to the president Caesar Villanueva said the 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 or Dollar Housing are now part of GHC’s rehabilitation project and once completed will be available for low-income families who qualify.
An announcement was also made on events to be hosted by the island’s housing agencies. They are the Guam Affordable Housing Symposium on June 19 and 20 at the Hyatt Regency in Tumon, and the Guam Housing Expo on June 23 at the Father Duenas Memorial School Phoenix Center.