Finally receiving the long requested documents regarding the redevelopment of Cable Beach, Free National Movement leader, Tommy Turnquest, said it seems as if the government has given away everything that is owned by Bahamians in order to get the deal signed.
“Boy how time changes some people. Remember when foreign investment was bad and the PLP said the FNM was selling out the country to foreigners? They even said that they would revoke the concessions we gave to Atlantis, now they are giving away more than the FNM ever considered,” Mr Turnquest stated.
The FNM leader was addressing hundreds of supporters who congregated at the Prince Charles Shopping centre for the Party’s “report card” rally on Tuesday night.
Last month, the government and the Hotel Corporation of The Bahamas along with Baha Mar Development Co. Ltd signed a $1.2 billion dollar Cable Beach Heads of Agreement, which signaled the largest resort investment ever undertaken in The Bahamas and throughout the Caribbean. And on Tuesday night, Mr Turnquest advised listeners that he had four documents in his possession, which included:
* The Heads of Agreement between Baha Mar and the Government
* An Agreement for sale between Baha Mar and the Hotel Corporation
* An Agreement for sale between Baha Mar and the Treasurer
* An Agreement for sale between Baha Mar and the Minister responsible for Crown Lands.
Mr Turnquest indicated that the FNM is concerned about those deals, of which the developer is being sold Bahamian land at giveaway prices and are allowed to develop exclusive properties to sell at huge profits.
He noted that the PLP claimed it laid out a plush red carpet to encourage foreign investors to come to The Bahamas, but he is concerned about how many Bahamians will be asked to make sacrifices in order to allow the Cable Beach development to take place.
“How much public property will be handed over? What about public roadways? What about wetlands? What about public inconvenience? We need to look at what the government is giving away and then determine whether it is a good or bad deal,” Mr Turnquest suggested.
Focusing on a portion of the Heads of Agreement that speaks to the sale of land, Mr Turnquest informed FNM supporters that the government is selling the Radisson Cable Beach Hotel; the Golf Course; the remainder interest in the Wyndham Crystal Palace and the Nassau Beach Hotel which are on leased land; the existing West Bay Street roadways and the landscaped median; the Hobby Horse Race Track land; Bahamas Development Bank; Gaming Board; Cecil Wallace-Whitfield Building; Cable Beach Police Station; British American bank; the two straw markets; the Sporting Complex; BEC land and Water and Sewerage land.
He also revealed that the government is giving a reduction of two thirds of the Casino Annual Licence Fee, and section 3.1 of the Heads of Agreement seems to be giving them a “freebie” until 2007.
Mr Turnquest further stated that while the FNM has no objections to waiving customs duties as provided under Law, the government needs to have some revenue from the project. He claimed that they are not requiring any stamp duty to be paid on land transactions sold by the government, but under the Heads of Agreement, they are agreeing to amend legislation to provide exemptions where the law does not now allow.
The FNM leader said he is also concerned about the confidentiality clause in the three Agreements for Sale. He claimed that the government wants to conceal these Agreements, as a portion of the Agreement outlines that: “The Vendor and the Purchaser agree that the specific provisions of this Agreement and information concerning the Project are confidential between them and shall not be disclosed to any person.”
“This is public business and public land. Why is there a need for a Confidentiality Clause? What are they trying to hide,” Mr Turnquest asked. He said the Government must come clean with the Bahamian people and fully disclose all the details of this Cable Beach deal.
“We do not just want the Heads of Agreement, but also the three (3) Agreements for sale, inclusive of their schedules and annexes, signed and sold on behalf of the Bahamian people by the Prime Minister as Minister responsible for Crown Lands; by the Treasurer (in this case Mary Mitchell as Acting Treasurer); and by the Hotel Corporation (George Smith and Baltron Bethel). The Bahamian people have a right to know,” Mr Turnquest charged.
By: TAMARA McKENZIE, The Nassau Guardian
