IBB leases 31,453-square meter land at the Agingan point for its transmitter.
In a voice vote, the House unanimously approved Rep. Stanley T. Torres’ House Joint Resolution 17-19 which asks DPL to review the lease contract with IBB.
The resolution states that the lease with IBB is in violation of the CNMI Constitution. His resolution, Torres said, will allow the CNMI government to renegotiate better conditions and ask for “back payments.”
IBB is paying $15,000 a year, but in monthly installments.
DPL’s Real Estate Division records show that the annual rent based on a percentage of the market value should range from $24,540 to $32,720 annually.
The lease agreement was originally signed on May 1, 1981.
That 10-year lease had an option to extend three additional terms of five years for a total of 25 years.
In order to extend for more than 25 years, it needs the approval of the Legislature.
But the lease agreement indicated it could be extended “indefinitely” on a month to month basis after 2006 without the Legislature’s approval, which Torres, Ind.-Saipan, said is unconstitutional.
