Minister of Sports Cesar Cedeño said the government could call a new tender for the construction of the Pan American Olympic Village. The original bid won by a Spanish firm fell through when the government desisted from building the eight 22-floor towers diagonally across from the Olympic Village and relocated the Olympic Village site to near the Las Americas International Airport, main port of entry to Santo Domingo. To build the villa, the government is counting on a US$140 million loan from the Banco de Bilbao of Spain. News reports say that the interest on the loan will be an annual 1% over a 30-year period. The village will become the residential complex for the Las Americas Institute of Technology and the Santo Domingo Cyberpark.
