NMHC asks SNILD to reconsider diverting use of $300K
A local bill that proposes to re-appropriate funds under a Saipan local law involves the $300,000 seed money that was initially to be allocated to the Northern Marianas Housing Corp. for its rental and/or home loan programs, according to NMHC corporate director Jesse S. Palacios.
In written comments Thursday on House Local Bill 23-36, Palacios said NMHC acknowledges the pressing need to address outstanding obligations and to enhance infrastructure, but lawmakers should consider the broader impact of re-appropriating the $300,000.
Saipan Local Law 21-13 aims divert the use of that money to address outstanding medical referral obligations and fund road and drainage upgrades in Kagman.
Palacios pointed out, though that the amount is a “unique opportunity” for the CNMI to provide decent, safe, and sanitary housing and could potentially make a substantial difference for families aspiring to become first-time homeowners or for existing homeowners in need of critical home repairs to make their homes typhoon-proof.
Introduced by Rep. Angelo A. Camacho (Ind-Saipan), House Local Bill 23-36 seeks to re-appropriate $300,000 from Saipan Local Law 21-13. Of the $300,000, $60,000 will be used to pay for outstanding medical referral obligations owed the Saipan Employment Agency & Services Inc. The remaining $240,000 will be used for road anti-skid resurfacing on Chacha Road in Kagman 1 and for a ponding basin in Kagman 3.
In his letter to Saipan and Northern Islands Legislative Delegation chair Rep. John Paul P. Sablan (Ind-Saipan), Palacios said NMHC envisions using this funding in collaboration with federal funding from the U.S. Department of Housing and Urban Development HOME Program to be able to extend a partnership-type loan program that would allow NMHC to assist a broader spectrum of applicants, enabling them to build, acquire, or rehabilitate their homes.
He said another avenue in mind is to extend this funding as a direct loan to higher-income households that surpass federal low-income guidelines.
By offering low-interest bearing loans, he said, NMHC aims to establish a revolving loan program, ultimately benefitting more families seeking affordable housing solutions.
Jesse Palacios
