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New firm to infuse $1.5M for restaurant in Saipan airport
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Posted on Jan 08 2001
A newly-formed company is eyeing the operation of a restaurant at the structure in front of the main terminal building of the Saipan International Airport, which is currently occupied by a car rental facility.
Under its proposal submitted to the Commonwealth Ports Authority, Saipan Rainbow, Inc. is planning to construct a three-storey building in front of the main terminal for the operation of both a restaurant and a car rental facility.
Saipan Rainbow, whose articles of incorporation was executed only in November, is expected to pour in more than $1.5 million for the design, permit and construction of the building, as well as for the complete operation of the restaurant and car rental facility.
The company wants to lease the property in front of the main terminal building of the Saipan International Airport for $250,000 which means additional revenues for the ports authority.
The proposal is now under review by the Duty Free Shoppers which holds the master concession agreement for the Saipan International Airport.
Once permit is granted and construction begins, Saipan Rainbow would provide temporary facility to house the existing car rental companies so as not to disrupt the delivery of services to CNMI tourists.
All temporary relocation costs, including temporary building, toilet facilities and electrical and water supplies, will be shouldered by Saipan Rainbow, the proposal stated.
As an alternative proposal, the company is willing to turnover the first floor to the CPA for its use for whatever purpose including renting the area to other vendors, provided Saipan Rainbow will be able to use the basement and the second level of the structure.
The company is hoping to complete the preparation of architectural and engineering plans in two months, while securing government permits, ranging from the Coastal Resources Management, Division of Environmental Quality, Historic Preservation Office and others are also anticipated to be finished in another two months.
Saipan rainbow expects to break ground in March 2001 and construction of the three-storey building is expected to be completed in a six-month period, and should be ready for occupancy in September. (Aldwin R. Fajardo)
