3 Aug 2012

Northern Marianas at risk of losing federal project funding

6:31 pm on 3 August 2012

The Commonwealth of the Northern Marianas could lose millions of dollars in United States federal funding if it fails to complete all the projects funded through the American Reinvestment and Recovery Act, or ARRA.

The territory has ARRA allocations of 119 million US dollars but it could lose portions of the 24 million dollars it has yet to draw down with just 13 months before the federal government starts reclaiming the unused money.

Latest data from the federal tracking agency Recovery.Gov shows that the CNMI has yet to either start or complete 32 of 57 identified ARRA-funded projects.

The 25 completed projects used about 57 million dollars of the funding, which was allocated across the US by the Obama administration to try and jumpstart the economy and create or save jobs.