http://www.jonesbahamas.com/?c=45&a=14437

The concessions that we gave will be returned ten fold to The Bahamas," Mr. Christie predicted in an interview with the Bahama Journal at the Office of the Leader of the Opposition on Parliament Street.

In the House of Assembly a week ago, Prime Minister Hubert Ingraham questioned concessions the former administration agreed to give to the developers of the Albany resort in southwest New Providence.

Mr. Ingraham said because Albany is slated to be a private members club with its amenities made available only to its guests, it’s not eligible for some concessions.

"Concessions available under the Hotels Encouragement Act require that hotels and related facilities and amenities that benefit from concessions under the Act remain open to the paying public," he told parliamentarians.

"The requirement is stipulated in all agreements concluded under the Act. By definition a private club is barred from receiving benefits under the Act."

I think we should give concessions but it must be done sparingly, with care and each case must be examined. If we start handing them out like candy, then we are in trouble.

This is why we brought this guy back...a captian with some batlz and moral compus!

Albany is a "criminal" deal and should not be allowed to survive...our integerity as a people demands it!

^^^^^^ BOL @ bringing Capt give-away back.

Did anyone see Mr. Christie's argument


10th October
Christie Defends Concessions
By Candia Dames
Despite suggestions by the government that the Progressive Liberal Party administration was too generous in giving concessions to developers, former Prime Minister Perry Christie stressed on Tuesday that his government did not give too much away.
"The concessions that we gave will be returned ten fold to The Bahamas," Mr. Christie predicted in an interview with the Bahama Journal at the Office of the Leader of the Opposition on Parliament Street.

In the House of Assembly a week ago, Prime Minister Hubert Ingraham questioned concessions the former administration agreed to give to the developers of the Albany resort in southwest New Providence.

Mr. Ingraham said because Albany is slated to be a private members club with its amenities made available only to its guests, it’s not eligible for some concessions.

"Concessions available under the Hotels Encouragement Act require that hotels and related facilities and amenities that benefit from concessions under the Act remain open to the paying public," he told parliamentarians.

"The requirement is stipulated in all agreements concluded under the Act. By definition a private club is barred from receiving benefits under the Act."

But Mr. Christie said under the agreement, Albany would not receive concessions for a private members club.

He said his government agreed to grant concessions only for the components of that project, which qualify as a hotel under the Hotels Encouragement Act and the Hotel Act.

No concessions would extend to private residences or other components of the project not included as part of the hotel, Mr. Christie noted.

The former prime minister pointed to section 5(1) of the Albany agreement, which stipulates that only components included in the definition of "hotel" under the legislation qualify for exemptions.

He noted that hotels include homes and residential units, which are placed in the hotel rental pool for at least nine months of the year.

"Therefore, if you have a $20 million home and the owner of that home is prepared to place that home in the hotel rental pool for at least nine months of the year, that constitutes hotel rooms," Mr. Christie said.

He noted that the agreement provides for the luxury hotel to be available for bookings by Bahamian residents and guests from all over the world.

The agreement also mandates that members of the general public – when they are guests – would have access to the development’s amenities.

"In giving the concessions, we were trying to avoid giving concessions to a facility that would be exclusive to foreign persons and one that was based on a residential community," said Mr. Christie, adding that what his government agreed to did not violate any laws.

"So again, we put in special negotiations to ensure from a public policy point of view we were giving Bahamians access even though they would have to be guests."

He said The Bahamas will benefit from the concessions granted.

"We believe that Ingraham is tied to his criticisms prior to the election and he has to justify those criticisms by trying to change some of these agreements in some way. We’re told he wants to take away the Gaming Board premises and the Development Bank premises and have Baha Mar surrender them; Baha Mar would be delighted to surrender them because quite frankly it would be cheaper than building a new set of Gaming Board and Development Bank offices," Mr. Christie said.

He said the opposition has to continue the discussion publicly and make sure Bahamians understand the various agreements with respect to the concessions.

"You would find therefore that you are giving the [developer] an incentive to go and build a type of property that has not succeeded in the past. Therefore, when you look at South Ocean and Albany together you see that there is a prescription for success. Success means that thousands of people will have jobs that can be sustained out there," the former prime minister said.

Mr. Christie said in order to put the granting of concessions into context Bahamians ought to look at concessions given to Kerzner International for its various Atlantis phases.

"When the Ingraham government negotiated its first phase, the extent of the concessions amounted to 45 percent of the value of the investment; whey they did their second phase it was 38 percent and when we negotiated our third phase we reduced the percentage to 20 percent," he said.

"But in the course of examining the issues of concessions my government discussed that extensively and employed a major company out of Denver, Colorado to come to The Bahamas to do an exhaustive examination on the subject of concessions to Kerzner."

He said the consultants recommended that on the basis of the economy of The Bahamas the government could make a decision that the Kerzner development is entitled to no concessions.

"It was our considered opinion after we looked at that consultancy report that the development would not take place under those circumstances or we could not risk the development not taking place," Mr. Christie said.

"Therefore, we shared our concerns with Kerzner and we used it to negotiate the concessions downwards to assure that we ensured progress after [phase one and phase two]."

He said an economic impact assessment study was done before his government signed off on any agreement.

Mr. Christie said each study clearly outlines the impact the inflows of capital would have on the Bahamian economy.

"In making decisions on concessions, all of those things were taken into consideration," he told the Journal.

"We did not give away too much."

http://jonesbahamas.com/?c=45&a=14437

and just to highlight something here...


"Therefore, if you have a $20 million home and the owner of that home is prepared to place that home in the hotel rental pool for at least nine months of the year, that constitutes hotel rooms," Mr. Christie said


A $20,000,000 home is used as an example? Is this the average home price at Albany? How many houses of this value have been used to calculate the billions of dollars in this investment? If the home is going to sell for $20,000,000 shouldn't they be able to pay for the purchase of surrounding land and road directly and at market price?

I would like to know the name of the quantity surveyor who valued these homes.

This is why we brought this guy back...a captian with some batlz and moral compus!
Albany is a "criminal" deal and should not be allowed to survive...our integerity as a people demands it!


This from someone who likely does not understand the Albany deal.

I for one am in support of concessions for investment. We do not have an export based economy. Our service based economy is eroding with the increased competition in the region and the lack of first class service provided. Without foreign investment to aid or economy and cash flow we are doomed as the country we now know it. We will slide back to the socioeconomic level of many of our surrounding island countries. We need foreign investment, especially from the likes of Tiger Woods, Ernie Els and Joe Lewis / Tavistock. These are first class investors who have proven that they belong in the Bahamas. Lets not run these types of investors away.

i agree many of the concessions given to investors is high way robbery. however this is simply supply and demand.

the only way any island based nation can "act up" in concessions talk is if all of these nations come together and agree they wont be taken for a ride.

as long as the compition is giving away consesssions the bahamas has to as well

case closed, next on the docket

This from someone who likely does not understand the Albany deal.
I for one am in support of concessions for investment. We do not have an export based economy. Our service based economy is eroding with the increased competition in the region and the lack of first class service provided. Without foreign investment to aid or economy and cash flow we are doomed as the country we now know it. We will slide back to the socioeconomic level of many of our surrounding island countries. We need foreign investment, especially from the likes of Tiger Woods, Ernie Els and Joe Lewis / Tavistock. These are first class investors who have proven that they belong in the Bahamas. Lets not run these types of investors away.

Our nation wont not for "overseas" dollars to ensure future survival, but for wont of bahamians who "sees" beyond their party of pockets! Good if some of it is coming "cross here" and bad if een no money comin round here of my party een do it!

As for no understanding the albany deal...ya onny have ta be a half-azz to see the bullshed they and perry dem pulled on we! And for your information, take a gander at hawaii, TI, anguilla, bamuda, US, VI and some more of them lil islands full er across the reef "second homers" and what is the result to the locals!

I am convinced that you stand to directly gain from having it so...into ya pockets! What are you...the lawyer, builder...or even ally maynard huh?

Our nation wont not for "overseas" dollars to ensure future survival, but for wont of bahamians who "sees" beyond their party of pockets! Good if some of it is coming "cross here" and bad if een no money comin round here of my party een do it!
As for no understanding the albany deal...ya onny have ta be a half-azz to see the bullshed they and perry dem pulled on we! And for your information, take a gander at hawaii, TI, anguilla, bamuda, US, VI and some more of them lil islands full er across the reef "second homers" and what is the result to the locals!
I am convinced that you stand to directly gain from having it so...into ya pockets! What are you...the lawyer, builder...or even ally maynard huh?


You have no idea what i have to gain from anything - you dont know who I am or what I do. If you want to make a point - just make it and dont speak in circles as you make no sense. Tell me one thing, without foreign investment where is the money coming from to support our country? Certainly not from the crooked customs duties.