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МША Approves Purchase Option for J.C. Tenorio for Takeoff

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МША Approves Purchase Option for J.C. Tenorio for Takeoff 'H i VF. PS IT'·" OF HAWAII LIBRAR^ Micronesia’s Leading Newspaper Since 1972 МША approves purchase option for J.C. Tenorio for takeoff THE MARIANA Islands Hous­ Tenorio, in a separate interview, By Gaynor Dumat-ol The $50 million complex will ing Authority has agreed to give expressed support to the new op­ include four main and intercon­ J.C. Tenorio Enterprises an option tion available to MIHA to pay its CLOSE to $1 billion worth of necting wings of concrete and to buy 8.4 hectares of land in loan. projects in Saipan have been ap­ glass, the tallestof which is seven Garapan, MIHA Executive Di­ “We want to sit down with proved by the Coastal Resources stories high. rector John M. Sablan said MIHA for a possible schedule of Management (CRM) but most Other pending hotel and con­ Wednesday. payment," Tenorio said in a have not taken off the ground. dominium projects are; J.C. Tenorio offered to pay separate interview Wednesday. The updated CRM summary of * Dae Ho Resort in Lbwer GualoRai,al36-room,five-story MIHA $1.5 million upon signing If this fails, Tenorio said CDA approved projects show that 12 family resoitprojected to be worth of the agreement and additional would foreclose MIHA’s proper­ hotel and condominium resort projects totalling $611.7 million, $12 million; $100,000 a month for three years, ties, particularly the 52 houses four hotel expansion projects * Fanaganan Hotel in China which were used by the housing which may be extended to five worth $99.5 million, three golf Town, a 14-story, $41-million years. agency as collateral for the loan, projects totalling $153 million, residential and tourist complex; The amount, which is not reim­ originally amounting to $10 mil­ $26 million in commercial cen­ * Otas Condominium in Marpi, bursable, will be deducted from John R. Sablan lion. ters and $10.45 million worth of a $40-million project which will the total price of the property when He said the deal would help “We don’t want property, we office and apartment projects are consist of a 10-story and a 15- the company decides to exercise MIHA pay its debts, particularly want our money,” Tenorio said. pending construction. story tower, a pool, health club its option. the $8.8 million owed to the He said the CDA board would The most expensive hotel and restaurant; The value oftheproperty, which Commonwealth Development meet next week to discuss the proJect approved by CRM is the * Navy Hill Resort, estimated is located in Saipan’s commercial Authority (CDA). MIHA loan problem. $200-million Coral Bay Resort worth $16 million; * The $52-million Ashugao n center, is not known. MIHA ear­ J.C. Tenorio’s proposal would “I am sure we could settle our which will be built in Tanapag. Hotel-resort complex on the lier tried unsuccessfully to lease give MIHA a total of $5.1 million obligation to CDA and even to Coral Bay will consist of three buildings— a hotel, a condo­ beachside in south San Roque; the land, also known as Garapan in three years and $7.5 million in our other creditors with the Joeten minium and a “condotel.” * An $11-million unnamed Annex n, for commercial devel­ deal,” Sablan said. five years. The 13-story Coral Bay hotel resort hotel proJect in Puntan opment. MIHA was declared in default MIHA has also asked the gov­ will house 495 rooms, the 19- Muchot, Garapan; and Sablan said J.C. Tenorio’s pro­ of the loan in September and was ernment to reimburse the agency story condominium willhave270 * Saipan World Hill Resort posal would be submitted to given until next month to pay its for the cost of infrastructure put units and the condotel will have which will have an eight-story Governor Lorenzo I. Guerrero and obligation. into its housingproJects, estimated 274 rooms. tower and terrace-type units the Legislature for final approval. CDA Chairman Juan S. at $10 million. Coral Bay will have inland sea housingacoffeeshopandrestau- waterpoolsandfreshwaterpools. rant, banquet hall, aerobics stu­ Thesecondbiggesthotel pend­ dio and outdoor swimming pool. Torres files ing construction is the $ 100-mil­ It was projected to cost $11 mil­ Marshalls lion Nansay Corp. hotel proJect lion. w age ease Nansay will be situated on 18.5 Two of the three approved golf seeks FEMA acres ofbeachfrontproperty south course projects will include a against MGM of San Roque Village. hotel. The hotel will have 800 rooms, The CNS resort and golf course COMMERCE and Labor Direc­ typhoon aid an island seawater lagoon and will occupy 89 hectares of land in tor Joaquin S. Torres has filed a extensive landscaping. Talafofo. The $101-million project include a 504-room hotel civil suit against a garment fac­ Also in San Roque, a $62-mil- By Gift Johnson lion resort project named Saipan and club, an 18-hole golf course tory in Saipan which employs Resort Villa has been approved and a sprawling water park. about 400 workers. MAJURO - The US Federal The resort will have a 22-story Also in Talofofo, Saipan East­ The suit, filed last week before Emergency Management Agency tower. A total of 126 guest units, ern Bay golf course with anl8- the Superior Court, accused is asked to come to the aid of the 203 time-sharingunits, three posh hole course and clubhouse will Marianas Garment Manufactur­ storm stricken Marshall Islands - duplex townhouses and a small be built at an estimated cost of $24.5 million. ing Inc. of failing to pay its one tenth of whose population shopping plaza will be built in the Saipan Eastern Bay will be lo­ workers, most of whom are from experienced the wrath of Typhoon resort complex located east of thé Joaquin Torres Nikko Tropical plaza. cated between Saddok Denni and People’s Republic of China, the Gay as it intensified at the begin­ $2.15 per hour wage specified in Also named defendant in the The old fishing base in Garapan Saddok HasngoL ning of its collision course with The Shimizu golf course in their employment contracts. suit was Century Insurance Com­ is the chosen site of the $30-mil- the Northern Marianas and Guam. lionSaipanMarinaResort, which Kagman peninsula; estimated to The employment contracts be­ pany Ltd., which entered into a Over the weekend, President will feature an aquarium-mu- be worth $28 million will have tween the workers and MGM, the bond agreement with MGM Amata Kabua declared nine in­ seum, 150roomsandaclubhouse two 18-holecourses,aclubhouse, suit said, specified that the em­ guaranteeing that the former habited atolls and islands in the for sea sports activities. 100 hotel units, retail shops, res­ ployees should receive $2.15 per would pay the employers’ wages northern Marshalls a disaster area The old Coast Guard Loran taurants and swimming pool. hour for the first 40 hours worked in the event the garments company and, after the government sent Station in San Antonio will be the Three expansion projects of each week and 1.5 times the failed to do so. out. its own damage assessment site of a $43-million, 420-room existing hotels are also pending minimum wage for every hour The suit asked the^court to or­ teams this week, the government hotel that will have a swimming construction. worked in excess of the 40 hours der MGM and Century Insurance called for help from FEMA. pool,ashoppingarcadeandother Pacific Gardenia’s plan to put up50more rooms, acoffee shop, per work week. to pay each employee, including FEMA recently wrapped up features of a five-star resort Another resort hotel project in a formal restaurant, indoor and MGM workers, the suit alleged, those who have left the company, relief efforts in the Marshalls for had been underpaid for the past the balance due to the workers San Roque initially named outdoor cocktail lounge and two earlier storms - Zelda and function rooms will cost $2 mil­ three or more years. under the employment contract. Highbridge, will have 238 hotel Axel - after providing about $15 guest rooms, an elevated swim­ lion. Assistant Attorney General The suit also asked the court to millionforrepairandreplacement ming pool, a barbecue area, ten­ A total of 288 guest rooms, a Robert NaraJa filed die suit on order MGM and Century to pay of private and public buildings nis courts, healthclubs, shops and water park andstaffhousingunits liquidated damages to. the work­ behalf of the commerce and labor and personal property. restaurants. continued on page 3 director. ers. continued on page 7 A fóT (2~keks 2-MARIANAS VARIETY NEWS AND VŒWS-FRIDAY-NOVEMBER 27,1992 FRIDAY, NOVEMBER 27, 1992 -MARIANAS VARIETY NEWS AND VIEWS-3 W G rld Affairs : 'v . \ C ing chides T an on casino report U S considers steps Clinton wants tough SENATOR David M. Cing has ahead with the reprogramming,’'' criticizedPublic Auditor Scott Tan Cing said. to rew ard V ietnam for reporting on the financial “It is not very smart or profes­ management problems of the sional to relay an influential opin­ sanctions on Cuba By George Gedda issue. Tinian Casino Gaming Commis­ ion about an independent govern­ By Peter JamesSpielmann munications director George Its ambassador, Jorge Montano, Kerry and other committee sion after assuring the Legislature ment agency to legislators who are Stephanopoulos. was particularly incensed that the WASHINGTON (AP) - The members, Just back from a trip that all was well with the agency. considering an appropriations act UNITED NATIONS (AP) - Under the law, subsidiaries of United States would seek to tell United States is weighing steps to the region, said Vietnam had “Yourquestionableprofessional when you don’t have a solid basis,” President-elect Clinton believes US companies based abroad may its Latin friends how to trade.
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