Property Statement

The owner of an interest in any real property acquired by the Authority in a condemnation proceeding may, by expressly waiving any COL4122017 CH. 5 GUAM HOUSING AND URBAN RENEWAL AUTHORITY right to a priority purchase of any real property within an urban renewal or community development area, become eligible to receive government of Guam land in exchange for the land acquired by the condemnation proceeding. The authority shall issue to such owner a statement indicating that:

(a)the owner has expressly waived in writing all right to a priority purchase of any property within the urban renewal or community development area;

(b)the value of the interest in the real property taken by the Authority in the condemnation proceeding and the net amount payable to owner;

(c)evidence that the owner has stipulated for an order ordering that the condemnation proceeds otherwise payable to the owner be paid into the Treasury of Guam as payment for the government land to be acquired.