Guam News - Guam News
In his address, Pangelinan talked about the Guam military buildup and the potential for applying the Military Housing Privatization Initiative [MHPI] to the construction of housing for the military on Guam.
Pangelinan has been pushing the Department of Defense to employ the MHPI program on Guam for any military housing construction. The Senator says that the MHPI program would reduce the need for land acquisitions and "bolster our economy with increased construction activity and new business and job opportunities."
The adoption of the MHPI program said Panglinan "is a better alternative" because it will allow “military housing to be constructed outside the base" and thus allow projects like the live firing range complex to "be fully housed on-base.”
READ Senator Pangelinan release on his keynote address below:
PANGELINAN HIGHLIGHTS GUAM’S IMPORTANCE IN KEYNOTE ADDRESS
FOR IMMEDIATE NEWS RELEASE (June 26, 2012– Hagåtña) – Senator Vicente (ben) Cabrera Pangelinan, D-Barrigada, delivered the keynote address at the 7th Annual Bond Buyer Financing Military Housing Privatization Conference in Washington, D.C. earlier today and highlighted the significance of Guam to the conference attendees with regards to the inclusion of the Military Housing Privatization Initiative (MHPI) use on Guam for the military relocation from Okinawa, Japan to Guam.
In his speech, Pangelinan briefed the attendees about the under-abundance of land on Guam and the need for the DoD to utilize the MHPI such that DoD land acquisitions could be avoided.
“The MHPI will not only prevent the DoD from needing additional land resources on Guam for projects such as the live firing range, it will also bolster our economy with increased construction activity and new business and job opportunities,” stated Senator Pangelinan. “With military housing to be constructed outside the base through the MHPI program, DoD projects such as the live firing range can be fully housed on-base.”
Pangelinan stressed the importance of the people of Guam not being left behind in the decision making processes that occur between the governments of Japan and the U.S. In his speech he stated, “If at any time there are adverse effects [on the people of Guam], it is my duty as a policymaker to stop, look, and listen and then proceed with cautious action.” Pangelinan urged that the MHPI program is a better alternative that will focus on a strategy of mutual consent amongst all the stakeholders involved.
The Senator had the opportunity to network with many of the investors, developers and companies who are actually operating these privatized housing and lodging facilities under the MHPI programs implemented at many of the existing military bases. The program has improved the housing inventory and the quality of life for our soldiers, sailors, and airmen and air women and their families.
“Touching base with these companies and the interest they showed in the opportunity to expand the program to Guam installations was very important in advancing my proposal. I asked them to use their significant political influence in working with the DoD, the Congress and the Administration to create this opportunity and received positive response” stated the Senator.
The 7th Annual Bond Buyer Financing Military Housing Privatization Conference was attended financial rating agencies, Standard & Poor’s, Moody’s Investors Service, Fitch Ratings, financing companies Goldman Sachs, Barclay’s, Janney Capital, Raymond James, Wells Fargo, the U.S. Government Accountability Office, the Office of the Secretary of Defense,, among many other attendees.
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