Public Lands Secretary Marianne Concepcion-Teregeyo has resubmitted to the Legislature for its approval the application of D&W Saipan Inc. for a 15-year lease extension of its public land lease in Gualo Rai.<\/p>\n
In a Feb. 3 letter to legislative leaders, Concepcion-Teregeyo said DPL\u2019s first packet was submitted to the 21st Legislature on Aug. 26, 2020, prior to the expiration of D&W Saipan\u2019s 25-year lease last Sept. 30, 2020. A public hearing was held on Sept. 16, 2020, but it was not acted upon for approval since then.<\/p>\n
The secretary said DPL supports D&W\u2019s request for the lease extension. D&W owns the Shell gas station and the tire shop along Middle Road in Gualo Rai.<\/p>\n
D&W first entered into a 25-year lease agreement with the Division of Public Lands, Department of Lands and Natural Resources on Oct. 4, 1995.<\/p>\n
Concepcion-Teregeyo said the lessee has maintained a good relationship with DPL, had been compliant with the lease\u2019s provisions, and has kept its account current.<\/p>\n
Under the proposed lease extension agreement, D&W will pay a 5% increase in its current annual base rent for the first five years of the extended term. The company will then pay 5% of the appraised\u00a0 market value of the improved\u00a0 land every five-year period thereafter, but will not be less than the rate paid by lessee during the preceding five-year period and a percentage of its Business Gross Revenue.\u00a0<\/p>\n
In addition, Concepcion-Teregeyo said the company agrees to give 20%\u00a0man\u2019amko\u00a0discounts for parts and maintenance repair services, 10% discount on oil change, and 10% discount for military veterans\/active reservists holding authorized cards and loyalty award discount program for regular customers.<\/p>\n
She said D&W will also provide $2,500 annually for the educational scholarship of Northern Marianas descent eligible recipients.<\/p>\n","protected":false},"excerpt":{"rendered":"
Public Lands Secretary Marianne Concepcion-Teregeyo has resubmitted to the Legislature for its approval the application…<\/p>\n","protected":false},"author":23,"featured_media":330354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[309],"class_list":["post-339109","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news","tag-ok"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/339109","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=339109"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/339109\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media\/330354"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=339109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=339109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=339109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}