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CDA to study rent-to-own housing option for residents

THE Commonwealth Development Authority will look into the rent-to-own housing units being offered by the Guam Housing Corp., CDA chairman Kodep Uludong said.

“Our islands were recently devastated by Typhoons Mangkhut and Yutu and there’s a great need for homes and so we will look into what the Guam Housing Corp. is offering  on Guam,” Uludong said.

“It involves homes with concrete materials but are affordable to families with moderate income.”

The CDA board met on Monday morning and among the topics that  were discussed was housing for local residents.

The Commonwealth Development Authority board members meet on Monday. Photo by Cherrie Anne E. VillahermosaThe Commonwealth Development Authority board members meet on Monday. Photo by Cherrie Anne E. Villahermosa

CDA loan manager Marie Coleman recommended that the board look into the rent-to-own housing units  offered by the GHC.

“CDA  can finance these rent-to-own homes but this is something that we need to discuss further,” Uludong said.

“It sounds viable, but prior to the typhoons, we were already experiencing a housing shortage so we are now at the stage of studying all options available to address this shortage,” he added.

Uludong also said he supports the construction of typhoon-resistant homes for island residents.

In an interview on Monday, Uludong said he is “very much in favor of homes that can withstand typhoon winds. We will certainly look into that in collaboration with (the Northern Marianas Housing Corp.)”

Source: Marianas Variety : http://www.mvariety.com/cnmi/cnmi-news/local/109526-cda-to-study-rent-to-own-housing-option-for-residents

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