{"id":299679,"date":"2019-05-17T06:05:47","date_gmt":"2019-05-16T20:05:47","guid":{"rendered":"https:\/\/www.saipantribune.com\/?p=299679"},"modified":"2019-05-17T06:05:47","modified_gmt":"2019-05-16T20:05:47","slug":"tinian-mayor-scores-dpl-process-as-not-friendly-to-investors","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/tinian-mayor-scores-dpl-process-as-not-friendly-to-investors\/","title":{"rendered":"Tinian mayor scores DPL process as not friendly to investors"},"content":{"rendered":"

TINIAN<\/strong>\u2014Tinian Mayor Edwin Aldan laments what he said is the slow process of the Department of Public Lands, which he described as \u201cnot being very investor friendly.\u201d <\/p>\n

In a recent interview, Aldan said that during the confirmation hearing on Tinian for Marianne Concepcion-Teregeyo as DPL secretary, he told her that they need to sit down and talk about the issue on DPL\u2019s slow process.<\/p>\n

Aldan said he still supported Teregeyo\u2019s nomination confirmation, but told her that they need to return to the table and deal with this issue.<\/p>\n

The mayor said no investor will go to Tinian and give DPL $60 million, but every time there is a project, that investor has to \u201cbeg DPL to pay for that project.\u201d<\/p>\n

\u201cThat\u2019s wrong. Any investor cannot be put in that situation,\u201d he said. <\/p>\n

Aldan said at present, the only large investors on Tinian are Bridge Investment Group and the Alter City Group.<\/p>\n

He said the Macau City-based Alter City Group, which is supposed to build a five-star casino, is coming over to Tinian to sit down with them.<\/p>\n

Aldan said they need to be upfront with Alter City Group.<\/p>\n

\u201cWe don\u2019t want to\u2026continue to dance to the same music. \u2026We\u2019ve got to change the music because we are not moving anyway,\u201d he said. <\/p>\n

The mayor said Alter City Group should make their financial situation known. \u201cWe need to know, where are you at? Where we\u2019re going to? What do you need?\u201d Aldan said.<\/p>\n

Alter City Group and DPL signed a 152-hectare Tinian land lease agreement in September 2014 for a $300-million casino resort they expect to complete within 12 years.<\/p>\n

In June 2016, it was reported that Alter City Group is aiming to open a college on Tinian aside from the $1.2-billion hotel and golf resort project.<\/p>\n

In August 2018, it was reported that Alter City Group\u2019s application for a Regional Center Designation under the Immigrant Investor Program has been approved by U.S. Citizenship and Immigration Services. Such approval gives way for a business project to raise capital. <\/p>\n

With respect to Bridge Investment Group, the company plans to build two hotels on Tinian. It is also working to revive the Saipan-Tinian ferry service.<\/p>\n","protected":false},"excerpt":{"rendered":"

TINIAN\u2014Tinian Mayor Edwin Aldan laments what he said is the slow process of the Department…<\/p>\n","protected":false},"author":23,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[175,6158],"class_list":["post-299679","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-dpl","tag-tinian"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/299679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=299679"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/299679\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=299679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=299679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=299679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}