“As of Aug. 2, NMHC had to meet its acceptable ratio with [the U.S. Department of Housing and Urban Development],” NMHC Chairwoman Marcie Tomokane said.
She said NMHC believes that building a school in Koblerville is a feasible project.
According to NMHC, it committed to build the school for program years 2010-2012.
By program year 2013, the administration’s CIP office will take over to complete the new school.
According to NMHC Administrator Joshua Sasamoto, the housing agency had $1.9 million to spend until Aug. 2.
It bought a property in Koblerville for $1.17 million — the site of the new school, he added.
He said $108,000 went to the Division of Fish and Wildlife for environmental assessment; $380,000 was used to purchase Valley Inn; and $630,000 funded the replacement of the 500,000-gallon fuel tank of the Commonwealth Utilities Corporation.
Sasamoto said the agency was in danger of losing money if it failed to spend their federal funds, but he was pleased to report that NMHC did what it had to do.
“We haven’t lost anything.”
He said under the Community Development Grant programs, NMHC is also completing the renovation of Sinapalo Elementary School and the Sinapalo Children’s Park on Rota.
For the new school in Koblerville, NMHC said it will spend $820,363 in the first year, including for planning, A&E design and administrative costs.
NMHC is also considering to revise the existing Chacha Oceanview Jr. High School design rather than make a new one to save on costs.
Sasamoto also reported to the board that the agency suffered a big funding cut this year from $1.3 million to $880,000.
He said the agency was told that the funding cut was due to the decline in the CNMI’s population.
Sasamoto said he anticipates further cuts in their funding once the new census reveals a further decrease in the population.
He said the money the agency has in the next couple of years may not be sufficient due to anticipated slash in funding.
