GovGuam office rent nearly doubles to $14M in a decade

Fourteen years ago, the Department of the Interior recommended that the government of Guam avoid leasing office space as much as possible. The public auditor echoed those sentiments a couple of years later, saying GovGuam should consider building instead of renting.

GovGuam instead doubled its spending on rented office space, spending $14 million last fiscal year, compared to $6.8 million a decade ago, government audits, other financial records and bid documents show.

GovGuam’s increased spending on office rent shifted millions of dollars from the public purse to the bank accounts of private businesses.

One of the reasons for the increase in GovGuam’s rent: some government entities that once had rent-free offices, or paid lower rates for smaller space before, now pay private landlords for much larger office spaces.

Read more: http://www.guampdn.com/longform/news/2016/10/30/govguam-office-rent-nearly-doubles-14m-decade/92345022/