A bill extending the maximum lease terms for public land in the Northern Marianas from 40 to 55 years is now law.
Acting governor Victor Hocog signed a 15-year extension on public land leases that now authorises the Department of Public Lands to negotiate with existing lessees under new terms and conditions without publishing a request for proposal.
The Hyatt is one of three resorts that have leases which end between 2021-2026 Photo: RNZ Pacific / Mark Rabago
Under the old law, public land leases were only allowed up to 25 years, plus an extension of 15 years.
The Hotel Association of the Northern Mariana Islands and the Marianas Visitors Authority have said the extension will allow current tenants to invest in their properties and help the tourism industry grow.
Three major resorts have leases that end between 2021 and 2026.
Mariana Resort & Spa's lease finishes at the end of the month and as a fix the Department of Public Lands made a bid to operate the facility for a year.
