THE Commonwealth Ports Authority board of directors on Tuesday adopted a resolution to give a 50% discount to seaport tenants who operate tourism-based business.
The CPA board agreed that rental relief is reasonable due to the extreme negative impact of the Covid-19 pandemic on the CNMI tourism industry and economy.
Noting that the CNMI “has experienced a dramatic reduction in visitor arrivals, and these declines have led to a drastic and immediate decline in tourism-based business revenues,” CPA Resolution No. 2021-02 states, “It is in the best interest of the Authority to temporarily provide rental relief to seaport tenants that operate tourism-based business to ensure that such businesses remain solvent and can continue to operate at CPA seaports after the Covid-19 pandemic passes.”
The 50% rental fee discount takes effect from Oct. 1, 2020 to March 31, 2021.
The resolution also cited 2CMC Section 2172(g), which gives CPA the authority to determine the charges or rentals for the use of any property under its management and control; and 2CMC Section 2122(g), which allows CPA “to carry on the business of acquiring, establishing, developing, extending, maintaining, operating and managing ports, with all powers incident thereto.”
