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DPL now reviewing Hyatt’s proposal
Concepcion-Teregeyo says they already got all docs they need
Public Lands Secretary Marianne Concepcion- Teregeyo disclosed Wednesday that Hyatt Regency Saipan has already submitted all the documents that DPL needs regarding its expiring land lease in Garapan.
Concepcion-Teregeyo said in an interview that the current lessee, Saipan Portopia Hotel Corp., which owns the Hyatt, submitted the missing documents last week. She declined to disclose what those documents are.
“We’re reviewing their proposal and, right now, we’re crunching numbers,” Concepcion-Teregeyo said. “They’ve already submitted what we need. Let’s put it that way.”
When asked about an estimated timeline on when the negotiations with Hyatt will be completed, Concepcion-Teregeyo said she can’t tell as DPL is reviewing several proposals right now. “Marpi properties [proposal] is one, Hyatt is the other one that we just received, right. So we are working on it,” Concepcion-Teregeyo said.
DPL recently disclosed that they already received an official proposal packet from Hyatt.
Deveney Dela Cruz, special assistant to the DPL secretary, earlier stated that in order for DPL to start the negotiation process for a new matured lease agreement, they must first receive an official proposal from the current lessee.
Dela Cruz then disclosed that DPL only received an official proposal packet from Hyatt’s current lessee, Saipan Portopia Hotel Corp., last Oct. 20, but the package was incomplete.
Last October, Gov. Ralph DLG Torres said that he would like to see Hyatt get the extension
Hyatt’s 40-year public land lease will expire in December 2021. The land lease of Fiesta Resort & Spa, which is located adjacent to Hyatt, is supposed to expire in June 2021, but it just got a new 40-year lease.
The recent enactment of Public Law 20-84 increases the terms of public land leases for up to 40 years, plus an extension of 15 years, for a total of 55 years. It also authorizes certain public land leases to be amended and extended for up to 55 years.
