by Ken Quintanilla

Guam - The Guam Housing Corporation held its board of directors meeting Wednesday discussing several financial issues from its budget to possible revenue enhancers. GHC president Martin Benavente tells KUAM News that operating expenses for last fiscal year were $2.4 million and discussed a proposed $2.5 million for Fiscal Year 2012. He says like many of the other GovGuam agencies, they too are trying to find redundancies while trying to increase revenue by following up on late payments for rent and mortgages.

One of its main projects at the moment are the Sagan Linayan Project in Dededo. "We plan to pick up from there and maybe an additional 9 to 10 rental units from there and give out mortgage money for some of the new homes that will be coming up there soon," said Benavente.

He adds that the GHC is looking to create a housing trust fund that will provide more local funding to develop additional projects. Other proposed projects include renovating Lada Gardens in Dededo and working on more housing initiatives with GHURA.