OF the $55.9 million in capital improvement project or CIP funds provided by the federal government, the CNMI government has spent $40.1 million, leaving a balance of $15.5 million for projects that have yet to be completed.
The CIP list provided to Senate President Edith Deleon Guerrero includes infrastructure projects that are expected to be completed in 2028.
During a meeting with the Senate Committee on Fiscal Affairs on Jan. 30, Finance Secretary Tracy B. Norita told the senators that copies of CIP awards were also provided to the Marianas Public Land Trust so that any use of the public land monies that will be obtained through a line-of-credit agreement will only go to authorized recipients, which are CIPs that are funded by the U.S. Economic Development Administration.
The Senate version of House Bill 23-95, which the Senate is expected to pass this Friday, Feb. 9, 2024, includes a provision pertaining to annual projects funded through Covenant Section 702.
According to Section 104 (b) of H.B. 23-95, “For 702 CIP annual projects, any reimbursements received by the CNMI Department of Finance/Office of the Governor from the United States Office of Insular Affairs paid or remitted to the CNMI Government for 702 CIP project advances that are covered in the MPLT-CNMI Revolving Line of Credit including any future 702 CIP annual projects during the seven-year term of the [letter of credit] shall be paid directly to MPLT as settlement for the line of credit herein.”
The Senate version of the bill also applies the debt authorization to a line-of-credit agreement for CIPs between MPLT and the municipalities of Rota and Tinian, and an autonomous agency of the CNMI.
Office Planning and Development Acting Director Elizabeth Balajadia, P.E., who is also the CNMI CIP administrator, told the Senate committee that the CIP list includes projects for autonomous agencies.
The CIP milestone tracker for Saipan, Tinian and Rota also indicates the amounts of CIP funds that the CNMI government has so far drawn down. According to the list, the CIP drawdown expense was $3.6 million in fiscal year 2021; $3.9 million in FY2022; $3.6 million in FY2023; and $2.9 million in FY2024.
