Marianas Variety

Last updateWed, 20 Nov 2019 12am

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    Tuesday, November 19, 2019-10:18:07A.M.

     

     

     

     

     

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IPI asks for extension

IMPERIAL Pacific International has asked for an extension until Dec. 2020 to complete the construction of its hotel-casino facility in Garapan.

IPI submitted its proposal for extension to complete the project to the Development Plan Advisory Committee or DPAC, saying that the current deadline to finish the construction of the casino facility, Aug. 31, 2018, is impossible to meet.

IPI requested that the casino license agreement be amended so that the deadline can be changed and extended until Dec. 2020.

The governor’s office has instructed the DPAC to review IPI’s request. The DPAC is comprised of two parties, Pacific Century Inc., as the CNMI representative, and N15 Architecture Co. Inc, as the IPI representative.

Pacific Century Inc. is represented by its president James Chua while N15 Architects Inc. is represented by its president, Christopher Fryling.

The DPAC in its recommendation to the governor on Aug.16 stated that IPI had notified the committee that the construction of the initial  gaming facility cannot be completed by the end of the month due to  unforeseen delays in immigration and labor-law issuance which caused a CNMI-wide worker shortage.

The DPAC in its report to the governor said:

“N15 analyzed the amendment package and proposed amendment while also considering CNMI historical data as well as data from the general contractor and other team members. N15 takes the position that the [initial gaming facility] is being developed under fairly unique conditions primarily because of the geographical, political and economic conditions of the CNMI and therefore local information is an invaluable resource in determining the validity of the request.”

It added that Pacific Century Inc has independently conducted a high-level impact analysis that compares the financial impact of the different decision options available to the CNMI.

“The analysis provides compelling evidence that the CNMI will gain maximum financial receipts by amending the [casino license agreement] to provide the development flexibility and time extension to complete the construction,” the DPAC stated, adding that IPI’s request for an extension is justifiable.

The DPAC recommended that the CNMI Lottery Commission approve the proposed amendments to allow IPI to establish a sustainable gaming facility.

The proposed amendment number 6 to the casino-licence agreement states that the new deadline to complete the initial gaming facility is Dec.  31, 2020.

It added that phase one of the project, which is the integrated resort with 800 rooms and an entertainment facility with amphitheater, will be completed on Aug. 13, 2023 while phase two, which consists of  875 rooms and 185 villas, will be completed in Aug. 13, 2028.

The Lottery Commission headed by Commerce Secretary Mark Rabauliman has yet to arrange a meeting to discuss the proposed deadline extension.

The commission’s other members are Department of Public Safety Commissioner Robert Guerrero and Finance Secretary Larrisa Larson.