Adoption of Reuse Plans

The Corporation shall submit to the Governor any reuse plan completed and adopted by the Committee. Upon approval, the Governor shall transmit the proposed reuse plan to the Legislature for review and approval by statute within 60 calendar days of receipt by the Speaker. If the Legislature does not act upon the proposed plan within such period, the plan shall be deemed approved. After approval, the plan shall be COL120106 CH. 78 REFUSE PLANNING AND REDEVELOPMENT OF FORMER MILITARY BASES submitted by the Governor to HUD and DOD for approval and subsequently incorporated by the Territorial Planning Commission into the comprehensive master plan for Guam and by the Territorial Land Use Commission into the territorial zoning systems for lands covered by the plan, as zoned by the plan. However, Zoning approval and compliance of the Reuse Plan shall be deferred until such time as the negotiated fair market value purchase price, the economic development conveyance, or the public benefit conveyance is approved by the federal government, including an understanding as to how public infrastructure will be financed for the site.