The company is insisting on its request for a $27.7 million tax abatement and has asked the Commonwealth Development Authority to modify Saipan Laulau’s QC.
According to CDA Chairman Pedro Itibus yesterday, “We could not accommodate such a request under our existing regulations.”
To “give way” to Laulau’s request, the board amended its policy on QC modifications.
Under the old regulations, a request for QC modification could only be granted to those beneficiaries in compliance with their QCs.
Under the new policy, any previous QC beneficiaries or those whose QCs were issued on or after Oct. 1, 2008 can request for a modification.
Itibus said they are now reviewing Laulau’s request before submitting a recommendation to the governor.
Laulau, whose mother company is South Korea’s Kumho Asiana Group, said it will build the “Golftel Towers” for high-end golf enthusiasts around the globe.
The facility, the company said, will have 273 luxurious rooms, two club houses, villas and other amenities.
