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CPA extends rent abatement to December
The Commonwealth Ports Authority board has approved to extend its rent abatement program for all tenants at the Francisco C. Ada/Saipan International Airport and all Saipan seaport tenants that rely on the tourism industry up to December.
According to CPA board chair Kimberlyn King-Hinds, the board approved last week extending CPA’s COVID-19 Tenant Relief Program that would provide a 50% discount on rent for airport and seaport tenants until the end of the year.
“At the airport, everyone gets a 50% discount on rent until December. At the seaport, only businesses who rely on the tourism industry will get the discount,” she said.
King-Hinds said that CPA recognizes the struggle its tenants face with the COVID-19 pandemic taking a heavy toll on the tourism industry, which is their main source of income.
“While we see our tourists slowly coming back, we recognize that our tenants are still struggling with trying to make ends meet. The only thing that we do know about the pandemic is that we don’t know when we will get to a point where we can fully open up our borders without restrictions and not worry about the health and safety of our community,” she said.
She said the board hopes they can extend this relief further, but eventually it will become unsustainable but CPA will continue to do its best to be good partners. “We hope that this extended abatement provides them with some relief. It’s not sustainable for CPA to indefinitely continue with the discount but we understand the business impact. We want to be good partners and make every reasonable effort to help our tenants come out of this pandemic with us,” she said.
CPA started the Tenant Relief Program back in April 2020.
