$1,774,708 in Additional HUD CARES Funds Released to Guam
In the final tranche of HUD funding via the CARES Act, Guam has received an additional $1.7MM, bringing total HUD CARES Act funding for Guam to $7.9MM.
"Nearly $8MM in HUD CARES funds have been provided to combat homelessness and provide rental assistance and mortgage assistance to our people, however public announcements appear that we have barely deployed 25% of these funds at a time when our people need it most," opened Congressman San Nicolas. "Additionally, the $117MM in State and Local CARES funding Guam received could also be used to help homeowners and renters," Congressman San Nicolas added. "We need to move these resources out to our people now, especially when we are seeking additional federal funds for local government operations," Congressman San Nicolas continued.
In a recent hearing of the Financial Services Committee of the U.S. House of Representatives, many Members of Congress raised concerns about providing additional funds to local governments when barely 25% of money already made available hasn't even been spent.
"As your Congressman we have been pressing our local government to account for and deploy out to our people the CARES Act money it has received, and this is not unique to Guam," said Congressman San Nicolas. "The criticism is mounting in other jurisdictions with other Members of Congress entering into the record similar letters of engagement with their local governments; if we don't use the resources already provided it will compromise the ability for us to secure more federal resources." Congressman San Nicolas warned. "It becomes much harder to make the case for more federal funding, when the use of existing funding appears underwhelming at best or idling at worst, as it sends the wrong message that needs are not urgent and money is oversupplied," Congressman San Nicolas added. "We need to deploy to our people federal funds received urgently, that we may have the basis for more going forward into uncertain times," Congressman San Nicolas concludes.