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NMI continues work for ‘stimulus money’
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Posted on Mar 12 2009
Commerce Secretary Michael Ada said he would be pleased if the CNMI was awarded $100 million to $150 million in competitive stimulus grant money.
“I think that’s a reasonable estimate,” he said yesterday during a press conference.
Ada has been working with several grant writers to fill out the applications, so the CNMI can have a shot at receiving a slice of the funds that are a part of the $787 billion package signed into law last month.
The list of possible CNMI projects that could be funded continues to grow daily. It is currently totaling more than $400 million.
“We know, realistically, that amount of money is very, very difficult to come by, especially when you are competing with other jurisdictions,” he said.
It’s important, the official noted, to remember it’s not which jurisdiction turns in the application first, but which one is best. “Other jurisdictions may have applications ready, but quality is what matters,” he said.
The grant applications for power will be available for public comment starting today at www.commerce.gov.mp. The entire application will not be available, but the public can review the project over the next 10 days, Ada said.
Formula grant money, the other component to the funding package that is non-competitive, is starting to trickle in. Ada said he estimates the CNMI will receive about $30 million.
