Transfer of the Guam Housing and Urban Renewal

Authority.

(a)Transfer of the Guam Housing and Urban Renewal Authority. Notwithstanding any other provisions of law, the Governor is authorized to convey for One Dollar ($1.00) to Guam Housing and Urban Renewal Authority all right, title and interest of the government in Lots 10122-2, Dededo (area 1,088,988 ± square feet), Lot 10124-R2, Dededo (area 1,128,753 ± square feet), Lot 10134-3, Dededo (area 1,148,793 ± square feet), Lot 10199-2, Dededo (area 1,089,011 ± square feet) and Lot 7018, Yigo (area 1,479,500 ± square feet). The five

(5)parcels are to be utilized solely for the development of five hundred

(500)single family homes of reinforced concrete or concrete block construction, with an average cost per home including on-site and off-site improvements, not to exceed Twenty-Eight Thousand Dollars ($28,000). The community housing development shall be on a turnkey basis. Site development shall conform to the standards of the Subdivision Law. Units within the development shall be sold only to persons who agree to own and occupy the units. No unit shall be sold to any person who is a non-resident alien of the United States.

(b)Preferences Governing the Sale of Units. The Authority shall sell the units within the development according to the following preferences: COL4122017 CH. 5 GUAM HOUSING AND URBAN RENEWAL AUTHORITY

(1)First preference shall be given to persons who reside within the subject properties at the time of the effective date of this Article and who are without fee title to any developable real property of their own upon which safe, sanitary and decent housing could be erected.

(2)Second preference shall be given to those persons who are without fee title to any developable real property of their own upon which safe, sanitary and decent housing could be erected and whose direct ancestral lands were seized by the United States by eminent domain.

(3)Third preference shall be given to other persons domiciled within Guam who are without fee title to any developable real property of their own upon which safe, sanitary and decent housing could be erected and who have been residents of Guam for not less than two

(2)years.

(4)Fourth preference shall be given to persons who are owneroccupants of substandard residential property and who are willing to divest themselves of their interest in such property in consideration of being given the opportunity to purchase a unit within the development.

(c)Any sale made in violation of the preferences set out in Subsection

(b)of this Section shall be void ab initio.

(d)Authority Permitted to Lease Land. The Authority is granted the authority to lease lots within the development to the purchasers of the individual units upon the following terms:

(1)The lease shall be for One Dollar ($1.00) for a period of fifty-five

(55)years and the lessee shall have an option to renew the lease for an additional term of twenty

(20)years upon a price to be established by the Authority.

(2)The lease shall contain a provision granting the Authority the right to reacquire the original dwelling at the original sale price or at a lesser price if it has been damaged in the event the owneroccupant desires to voluntarily convey the property at any time during the first ten

(10)years of the lease. Any improvements which are permanently affixed to the land or the dwelling shall be purchased at their fair market value in the event of such a sale. COL4122017 CH. 5 GUAM HOUSING AND URBAN RENEWAL AUTHORITY

(e)Compensation to Displaced Tenants. No person shall be displaced from the lots transferred to GHURA pursuant to this Section without receiving compensation representing the fair market value of any improvements constructed or crops lost. In addition, persons so displaced shall be provided reasonable relocation assistance by the Authority. In addition, if the person so displaced meets all other requirements for first preference, his application shall be given the highest priority among all applicants for the purchase of a unit within the development.