Deputy Prime Minister Philip Brave Davis confirmed that plans for the $220 million Professional Golfing Association (PGA) development on Cat Island are progressing well, but admits there are still a few glitches being addressed. "At the moment, the hold up is identifying the plot of land upon which to build a terminal at the New Bight Airport. Right now, those in the land surveyors department have been tasked with the responsibility of going there, identifying the property and reporting back to [Sir] Baltron Bethel, in the Office of the Prime Minister," according to Davis. Davis, who is also the member of Parliament for Cat Island, Rum Cay and San Salvador, said the airport was originally valued at around $20 million. However, that figure has been scaled down significantly.
He explained that, after meeting with the developers, it was decided that $20 million would be too "elaborate". A revised budget of less than $10 million for phase one is now the working plan. He further noted the two parties are still negotiating as to who will be funding the construction of the much-needed airport terminal. "The initial view is that they would fund it at this time but the government would take up the cost on the back end," Davis added. Khaalis Rolle, minister of state for investments, stressed to Guardian Business that the expansion of the airport is the essential factor ensuring the development moves forward as planned. At present, the lone airstrip would be of insufficient size to accommodate the larger aircraft required to support the resort.
The actual terminal itself, meanwhile, resembles more of a small bus terminal than an airport. "The prime minister and I met with them and discussed the plans that currently exist. Obviously one of the issues that needs to be resolved is the airport for Cat Island," he explained. "If you are going to have a development of that quality, your gateway needs to represent that," Rolle explained. Heath Shelton, the president of Cat Island Partners, confirmed that investors are considering a leading role in the island's airport redevelopment. Ground was broken on the proposed resort in April 2009. Since then, Davis noted that the developers have been doing work by preparing the land.
Shelton recently shared with Guardian Business that more than $60 million has been invested so far. "Cat Island Partners has taken its construction efforts to the absolute limits of approvals granted to date," Shelton said. "These limits are from the actual approval standpoint, the logical point for ongoing construction progress, and also from an investment confidence standpoint. The partners involved have invested over $60 million personally into the project to date without any outside financing. This is a very strong personal commitment to the people of Cat Island." Davis admitted the project has been slow getting off the ground, but believes once negotiations are complete, development will move full-speed ahead.
Click here to read more at The Nassau Guardian
