Perez introduces bill to boost affordable housing in Guam
HAGÅTÑA, Guam—Senator Sabina Perez introduced a new legislative proposal aimed at significantly enhancing affordable housing opportunities for the people of Guam by appropriating $1 million from to the Guam Housing Corp.’s Housing Trust Fund.
Bill 309-37 comes following a substantial increase of revenues and projected increase of $4 million in Section 30 over FY2024, that provides additional funding towards for families seeking homeownership or other assistance and mitigates longstanding issues with Guam’s housing sector, including the rising costs of construction materials, skilled labor shortages and an increasingly competitive market that often overlooks the needs of low- to moderate-income families.
With GHC revenues declining and the housing inventory becoming less affordable, many residents find themselves unable to purchase their first home. This Bill 309-37 aims to bolster GHC’s capacity to administer and expand essential programs that provide much-needed affordable housing solutions.
The funds are intended to serve as seed capital for authorized housing programs, ensuring that resources are available to support community members who are most in need yet are currently ineligible for assistance from other housing entities. “This approach highlights the bill’s dedication to tackling economic disparities in housing, enhancing community welfare, and providing tangible solutions to ongoing challenges in Guam’s housing market,” Perez said. (PR)
Sabina Flores Perez
