The proceeds from the 20 lots will go to The Fig Tree Foundation, organised for the protection of the Great Guana Cay community.
The initial start-up of $500,000 was donated by the owners of Baker’s Bay Golf and Ocean Club and a six-man advisory board has been selected to run the foundation in the future.
The lots will be offered to Guana Cay residents. If they are not sold, Abaco residents will get the chance to buy them. The primary purpose of the 8,000-square-foot lots is residential and a stipulation in the contract is that they cannot be resold for 10 years.
If they become available for resale, Baker’s Bay must be given first preference.
For Guana Cay residents who might struggle to come up with $50,000, the Baker’s Bay Golf and Ocean Club has put together a financing plan.
This is all part of a blueprint put together by the advisory board which is made up of six members.
They are Carter Redd, Bruce McDaniel, Anne Outten, Blain Sweeting, Donna Sands and Marlina Bethel.
They will meet monthly and will determine the direction the foundation will take.
The Nassau Guardian
