The Bahamian group that has reached agreement with The Bahamas government for a public private partnership (PPP) to manage and refurbish cultural heritage sites, including the water tower and New Providence forts, has both a signed memorandum of understanding and a signed management agreement, its managing partner Olvin Rees told National Review yesterday. 

According to documents Public Private Investment Ltd. (PPIL) sent the government in 2017 proposing a management and operations agreement, the group proposed an initial investment of $30 million and the provision of 500 direct jobs and multiple entrepreneurial opportunities.

Under what was proposed, the all-Bahamian group would have full responsibility for the financial and operational obligations attached to the maintenance of these assets.

The group also proposed the assumption and immediate payment of the existing legacy debt to the cruise lines.

“This very same concept was done under the previous administration; they wanted to do it, all PLPs,” said Rees when we pointed out that this issue was raised by the Progressive Liberal Party (PLP) leader in Parliament on Monday.

“It was on [the then prime minister’s] desk for signature. I think the election came up and they ran out of time. The previous [PM] for whatever reason, he didn’t sign the document.”

Rees said PPIL has taken a non-political approach to the plan for the management of heritage sites and strongly dismissed a suggestion some are making that the current prime minister has fixed up his cronies.

Free National Movement Chairman Carl Culmer is a member of the PPIL team. That fact provides a hook for the PLP in making the cronyism claim.

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