Integrated resort the way to economic recovery for the CNMI

My dear people of Saipan: Please allow me to visit you in your homes and to ask for your unconditional support to allow the integrated resort to bring economic recovery to the CNMI.

However, before I proceed let me share with you the overwhelming show of support from our retirees, the many unemployed citizens and our underprivileged families whose lives have been greatly affected by the 25-percent cut in their retirement pensions, the unaffordable insurance premiums, the high utility costs, and the high unemployment rate in the CNMI.

Furthermore, in her testimony before the Court, the Secretary of Finance told the judge that the NMI Retirement Fund settlement obligation for this year alone is $25 million. Next year it will go up to $39 million and will continue to increase over the next few years.

Now where will the CNMI government get the additional revenues that our government desperately needs to meet the above obligations?  It is for all of the above reasons that we must allow the investor the opportunity to bring in the integrated resort so that our government may be infused with necessary and critically needed new revenue.

Next, because of our serious financial constraint, our late mayor, the honorable Donald Flores, took things into his hands and applied for a grant from the Office of Insular Affairs. We wish him all the best, especially since Interior gave our late mayor some $400,000 to purchase the much needed heavy equipment in order for his office to continue providing the necessary public services to our community.

Moving on, poker machines have contributed to many social problems in the CNMI. Yet on the other hand it generates millions of dollars for our scholarship program. Today, perhaps we can say that many of our students attending Northern Marianas College, universities in Guam, Hawaii and the mainland U.S. have benefited and also returned home to work in the CNMI.

Moreover, it is appalling to find out that the other investor is lobbying before the Legislature to amend the casino law. The amendment that they are proposing is for the Lottery Commission to issue two licenses instead of an exclusive license, Again, I warn the Lottery Commission to abide by the law.

Let me close by saying that the crippled CNMI economy requires new revenue generating investors and an integrated resort is the only answer!

Herbert S. Del Rosario
San Antonio, Saipan