NEWSLETTER Nr. 9 - 2010 (previous editions available online at www.jalousie-enclave.lc) WE HAVE ADDED NEW CONTENT TO OUR WEBSITE, CHECK US OUT!
CONSTRUCTION BEGINS On April 16th we begin construction of our roads and the foundations of several ROYA Villas. We expect to have the Villas available by June 2011. The Delphos Group, lead by Paul Hummer, will begin road and utilities construction project. Heavy equipment is being delivered to the site to be dedicated to our project.
April 9, 2010 Inside this issue: * Construction Begins …...…….………. 1 * Project Funding Approved ……..…… 2 * Interpretive Center …………………… 3 * Economic Recover IMF ………………. 5 * Caribbean Culture ………………….... 6 * The Long View (for St. Lucia) ……….. 7 * Acquisition Model ………………..….. 9 * IRS 1031 Program ………………….. 10 * Investment Comparison Chart …..…. 11 * Facts to Remember About St. Lucia .. 12
The Jalousie Enclave Funding Kennedy Funding Closes a Multi-Million Dollar Luxury Residential Development Loan in St. Lucia April 5, 2010
M Group Resorts S.A. to Begin Development of the Jalousie Enclave Hackensack, NJ. (April 5, 2010) – Kennedy Funding, Inc. today announced that it closed a multi-million dollar luxury residential development bridge loan to M Group Resorts S.A. d/b/a The Jalousie Enclave. The loan is to finance the construction of the Jalousie Enclave, that will be an extension of the famous $40 million Jalousie Plantation – also built by M Group between 1989-1992 – in St. Lucia, West Indies. Financed by direct private lender Kennedy Funding, the loan will provide working capital to complete the Jalousie Enclave and to commence construction of infrastructure improvements. “This type of project is very ambitious in the current environment when so many traditional lenders will not provide developers with desperately needed luxury residential development loans,” said Jeffrey Wolfer, President and Co-CEO of Kennedy Funding. “As a direct private lender, we are able to look at the potential of the land to close the loan quickly, helping to complete projects and create jobs.” In addition to building the Jalousie Enclave, the Jalousie Plantation is undergoing a $150 million renovation and will soon be renamed the Tides, Sugar Beach – operated by the Viceroy Hotel Group. The Jalousie Plantation – home to ABC’s recent The Bachelor: On the Wings of Love finale – is a first-class resort, located on 129 acres of beach front property, and is listed as one of UNESCO’s 820 “World Heritage Sites.” “We dreamed up the idea for the Jalousie Enclave back in 1989, so we are very excited to get the capital we needed to get this project underway,”said Pascal Mahvi, President of M Group Resorts S.A. “Thanks to the loan that Kennedy Funding provided, we are able to make this dream a reality and also help support the St. Lucia community by creating nearly 300 jobs and generating more revenue for the local businesses,” he said. “The Jalousie Enclave will be the only gated luxury residential community in a World Heritage Site.” “It is incredibly difficult to secure loans for commercial projects, particularly for luxury residential developments in the Caribbean,” said Ed Wegel, CEO of Liberator Capitol. “We are very pleased that Kennedy Funding was able to come through for us at a time when commercial lending is so tight everywhere so that this project could get funded.”
About Kennedy Funding, Inc. Visit Kennedy Funding’s website, Twitter feed, or YouTube channel for more information: http://www.kennedyfunding.com/home.html.
Piton World Heritage Interpretive Center Proposal March 24, 2010 PROJECT BRIEF: A project offered by the people of St. Lucia to the worldâ€Śâ€Ś Project Purpose: Awed by its beauty and welcoming inhabitants, tourists have long considered the Caribbean a destination for respite and relaxation. Now more than ever, this island region is witnessing a burgeoning population of discerning and adventurous international travelers, who, beyond a restful or romantic holiday, also desire a meaningful connection with the natural and cultural history of the West Indies. At the crossroads of the fabled Trade Winds linking the Caribbean with the Americas, Europe, and Africa, St. Lucia has long benefited from natural and cultural cross-pollination. From the spectacular geological formations of its Gros and Petit Pitons, to its rare animal and plant life, to its complex human history, this island nation is unique in many ways. The fact UNESCO has honored St. Lucia with a World Heritage Site designation confirms the need for broader recognition and permanent commemoration. Project Proposal: Except for small historical exhibits, no major interpretive center exists anywhere in the Caribbean islands though one is greatly needed. Although less heralded than other Caribbean islands, St. Lucia is arguably the most beautiful location and Jalousie Enclave, the most logical site for a fully-realized Piton Interpretive Center. Working in concert with the St. Lucian Department of Tourism and other Government sanctioned authorities, an experienced international Design Team led by Green Touch Design, Hare in the Gate Productions and Edge Architects proposes designing a world-class destination Interpretive Center located on property donated by M. Group Resorts SA, owners of Jalousie Enclave (Lot TSA1 would be set aside for this purpose), ideally situated within UNESCO's Pitons World Heritage Site in St. Lucia. Project Description: The Pitons World Heritage Interpretive Center will be a centerpiece for understanding the natural and cultural origins of St. Lucia and the Eastern Caribbean. To be built by M Group and operated by the PMA, the Center will require access through the Jalousie Plantation Resort's main gate owned by Roger Myers. It would also require a government provided parking facility. The Center would feature nature trails originating from the Jalousie Enclave Green Buffer Zone at the hotel's main gate, lead to the planned Jalousie Enclave botanical gardens to be located below the Ladera Resort, to the Beau Estate Green Zone and on to the top of the Interpretive Center Nature Walk Trail is shown in red, Jalousie Enclave is shown in green. Gros Piton. 3 www.jalousie-enclave.lc
Piton World Heritage Interpretive Center Proposal Access rights would need to be secured by GSL with the neighboring landowners, mainly Colin Tennant and Roger Myers. The Center’s innovative layout and design will engage visitors and tell the Island’s stories in a personal and memorable way through high level, sophisticated exhibit design, museum, interpretive planning and educational programming. The grounds and interpretive nature walks will augment the Center's impact by reflecting the site's geology, culture and natural life on the island. Together, these experiences will leave visitors with positive, strong and lasting memories of St. Lucia and its Eastern Caribbean home. Project Funding: Though a detailed funding strategy and Project development budget have not yet been worked out, a large part of the Interpretive Center's construction costs will be absorbed by the Jalousie Enclave's developer, M. Group. The balance of the required funding would likely be secured through private and public contributions as well as other available government financing programs, grants or donations. Job Creation and Income Generation: The Interpretive Center would provide steady employment to St. Lucians from planning and construction to the facility's daily operation with an additional and reliable income stream derived from indigenous musical production, local craft creations and educational workshops offerings. Additionally, the new Interpretive Center will help stimulate the development of St. Lucia's tourism and growth of additional visitor-related jobs on the island, creating a second tier of profitable employment and income generation opportunities. Conclusion: The Piton World Heritage Interpretive Center will become a cultural hub for St. Lucia, with its artists, craftspeople and musicians presenting and selling their work while school children of all ages visit and learn about their natural and cultural heritage on day-long field trips led by local “guides.” The Pitons World Heritage Interpretive Center will become St. Lucia’s calling card to the world, inviting visitors from near and far to bathe in its beauty, revel in its lush natural bounty and experience its rich cultural history. A visit to St. Lucia's Interpretive Center will rise to the level of “Must Do,” with tourists from around the world returning to their hotel or ship helping spread the word about this incredible learning experience then returning home to encourage family and friends to make St. Lucia their next vacation destination. Pascal Mahvi, Chairman M. Group Resorts SA
IMF says country is showing signs of economic recovery By admin on 4/04/10 • Categorized as Economy
WASHINGTON, CMC – The International Monetary Fund (IMF) said that St. Lucia’s economy was showing welcome signs of an emerging recovery but downside risks remain given the island’s continued dependence on tourism. “While the expansionary fiscal policy has helped to mitigate the adverse impact of the global crisis and protect the most vulnerable segments of the population, it has raised the fiscal deficit and public debt ratios significantly,” the IMF said in a statement. Against this backdrop, IMF directors welcomed the commitment of the St. Lucian authorities to implement what they regard as “a credible fiscal framework” to achieve fiscal sustainability, while minimizing adverse implications for growth and employment. The international lending agency has also encouraged the Stephenson King administration to move ahead with the implementation of the planned value-added tax (VAT) in 2010, and to embark on a “measured” withdrawal of discretionary spending. The IMF directors emphasized the need to prioritize and improve the efficiency of public spending over the medium term, to contain the growth of the public wage bill, and to seek more concessional financing in order to create fiscal space for higher targeted social spending and to absorb external shocks. They also noted that St. Lucia’s financial system has been hit by both the economic downturn and the collapse of the Trinidad and Tobago-based CL-Financial Group. Given the deterioration in bank soundness indicators, they, therefore, urged the government to “closely monitor” the financial sector and take action as needed. “Directors welcomed the authorities’ regional approach to the strengthening of regulation and supervision of nonbank financial institutions and the resolution of the (British American) Insurance Company BAICO,” said the statement, adding that they looked forward to the adoption of the Financial Services Regulatory Act and related legislation. The IMF said macroeconomic outcomes had weakened significantly in 2009, with real Gross Domestic Product (GDP) contracting by 5.2 percent, “reflecting a sharp decline in visitor arrivals and construction activity related to FDI.” For 2010, it said the outlook is for a “nascent recovery, supported by higher advance hotel bookings and additional flights to the island.” The IMF said inflation had declined from 7.2 percent in 2008 to 0.6 percent in 2009, and is expected to remain in the low single digits over the medium term.
Caribbean Culture The Caribbean getaway has a rich history of the French language, the English colonists and Africa have contributed to their unique traditions and the essence of St. Lucia. The fertile volcanic soil of the island shields an abundance of fresh produce, including different types of bananas, mangoes, papayas, pineapples, passion fruit, guava and coconut. St. Lucia is reminiscent of Dominica, near mountainous and volcanic phenomenon. In fact, his two most famous historic Bluff, Twin Peaks, then dropped dramatically at the edge of water near Anse des Pitons, the island on the west coast. St. Lucia offers an adventure for everyone. A stroll down the twenty-nine miles of trails in the rainforest.
The exotic beauty captures the exuberant charm of the Caribbean. From the distinctive twin peaks of The Pitons majesty of Diamond Falls waterfall and translucent turquoise sea that frames all that St. Lucia is the kind of dream island that travelers to the Caribbean â€“ is a tropical gem still relatively unknown. Lucia is only 27 miles long and 14 miles wide, with a form that says, either a mango or avocado is similar. In St. Lucia, there are many options. St. Lucia has a true tropical rainforest â€“ 19,000 hectares of vines splashed bright flowers, lush vegetation, bamboo, about 30 species of birds, and performed a whole menagerie of spectacular wildlife. And crossed by 29 miles of trails, this natural wonder, you can totally immerse yourself in the soul of this unique environment. St. Lucia was colonized by France in 1650. During the French domination, it uses the same flag as Martinique, its neighbor to the north island. St. Lucia economy was built on agricultural exports. For over 200 years, the export of the main island was sugar and bananas has increased during the 1950s. St. Lucia was originally from the Arawak, who were expelled in the Caribbean before the arrival of Europeans live. Accounts differ, the first Europeans to come to St. Lucia is home to a variety of beautiful beaches, unique, please consider. The best way to reach the port, is Pigeon State Beach, about 20 minutes north of Castries. St. Lucia has a very Creole flavor. There is also the Indian culture, so Curry is a plant first. They feed on root nodules of green bananas. St. Lucia has the usual array of things Caribbean, especially water sports, but hiking, mountain biking and horseback riding. But it also has unique attractions based on history, culture and natural environment of the island. St. Lucia abundant tropical fruit mangoes, papayas, pineapples, soursop, passion fruit, guava and coconut. Local leaders of the island combine to create fresh products with a variety of fresh seafood also try curries, Creole-style dishes, soups and pepper. Beauty St. Lucia is unmatched by other islands. Culture is a unique blend of French, British and African traditions, and the population of about 160,000 people make the beauty of the island and a rich heritage to life. St. Lucia is a place for honeymoon increasingly popular, and not without reason. St. Lucia has everything most newlyweds could want, with romantic sunsets, picturesque beaches and beautiful history and culture. 6 www.jalousie-enclave.lc
ACQUISITION PROGRAM The Jalousie Enclave Acquisition Model Provides Better Economics and Profit than the Traditional “Fractional Purchase”. Buyers can take advantage of the IRS 1031 Foreign Exchange program or provisions of the Self-Directed IRA The Jalousie Enclave Selling model provides owners with options. The Jalousie Enclave properties are sold freehold and owners have the option to rent or re-sell with no restrictions. Other second home properties limit how long residents can stay in their homes. The Jalousie Enclave, being a full time residency community, allows owners the option to stay for as long as they would like and rent when they are absent. Every investor in this residential community is provided Deeded Access to Sugar Beach on Jalousie Bay. Sugar Beach is part of The Tides Resort (a KOR property) which Mr. Mahvi built between 1989 and 1992. The current owner of Tides, Roger Myers is currently spending US$150 million in the resort’s face life, making The Jalousie Enclave the most desirable place in the West Indies to own a vacation home. The Jalousie Enclave Property Management will provide turnkey maintenance and staffing of trained butlers, maids and cooks for each residence. Office services will also be offered and an on-site representative will be available to oversee the lease of a purchased property for its owner. Should owners like to rent their villas/home, The Jalousie Enclave team will also be there to support and guide the owners through the process.
Three Bedroom - Three & 1/2 Bath Estimated 3,775 Square Feet Covered Area estimated1,566 Square Feet Uncovered Area 9 www.jalousie-enclave.lc
IRS 1031 Program For US Residents: In the process of selling an investment property outside of the United States? Why not defer your capital gains taxes by exchanging into one of the Jalousie Enclave's one of a kind properties. Find out more how your purchase can help secure your place in paradise and be eligible for taking advantage of IRS 1031 Foreign Exchange provisions. Alternatively, you could invest a portion of your IRA with up to four other partners in a Villa as an investment alternative and defer your taxes by renting your partner’s share in the villa. Why not talk to us and find out how to use The 1031 Program to get a vacation home with partners? For more information contact Arron Snyder at: firstname.lastname@example.org
DOLLARS SAVED & DEFFERED TAXES Stock Market shocks and alternative investments. Own Real Estate as timely choice. $$$ Consider that Yale University and other major endowments have successfully outperformed in part to a strategy of using non-correlated investments. This means that Self-Directing your IRA to a number of choices outside the stock and bond markets have cushioned the fallout in those markets. The use of alternative investments, real estate, timberlands, private equity and other choices make up the large part of the investment pool. Individuals can self direct IRA investments in these alternative choices as well. The retirement guidelines have permitted these choices from the beginning. Conventional wisdom by the public was the only choices were those offered by the banks, brokerage firms and insurance companies. Choices appeared to be broad and endless. Yet very little mention of the other choices. Transparency was not an issue. Marketing was the influence over most investors choices. Opportunity today in other choices to diversify is more apparent today then ever. Investing in Real Estate, owned by your self-directed IRA or retirement account, opens another world of choice and opportunity to own property in a World Heritage site in St Lucia. Investors can take advantage of a timely choice of owning a piece of paradise in their self directed retirement account. You could invest a portion of your IRA with up to four other partners in a Villa as an investment alternative and defer your taxes by renting your partner’s share in the villa. For more information contact Jesse Berencse at The Jalousie Enclave: email@example.com .
Great Financing Programs Available! For qualified buyers there is on-island financing available for up to 90% of the purchase price.
Compare a 1 and 5 year investment of Freehold vs. Fractional ownership:
Investment Comparison Chart One Year Investment
Five Year Investment
1,500 sq ft
1,500 sq ft
20 year Term 6%
It’s easy to see why a 5 year investment under a Freehold Agreement giving a $317,780 profit is better than a 5 year investment under a high-end Fractional Agreement giving only a $39,180 profit.
Facts to Remember About St Lucia and The Jalousie Enclave History: Throughout the 17th and early 18th centuries St. Lucia was both a French and British province. St Lucia became self governing on March 1, 1967 and gained independence from England on February 22, 1979. The island celebrates their independence and entry into the Commonwealth of Nations every year with a public holiday. * Location: St. Lucia is part of the Lesser Antilles, in the Caribbean Sea. Neighbors include Martinique to the north and St. Vincent to the South. * Geography: The Piton Mountains are St. Lucia’s most famous landmark. Located on the western side of the island between Soufriere and Choiseul, the Pitons 2,600 foot twin coastal peaks are a striking visual for one of the most carefully preserved natural environments in the world. In the mountainous interior lies St. Lucia’s 19,000-acre National Rain Forest, where wild orchids, giant ferns, and birds of paradise flourish. The rainforest is also home to endangered tropical birds including species such as the indigenous St. Lucia parrot. Twenty-nine miles of trails wind through the forest and surrounding orchards of banana, coconut, mango, and papaya trees. The volcano’s of Saint Lucia is also one of the few islands in the world that boasts a drive-in volcano. * Population: 170,000 - Size: 238 Sq. Miles - Official Languages: English, French Patois * The Jalousie Enclave is a full residency, planned gated development in the heart of St Lucia’s UNESCO World Heritage Site. * The Jalousie Enclave is the ONLY Full Residency gated community next to KOR’s newest branded resort, The Tides on Sugar Beach. * The Jalousie Enclave is the ONLY Full Residency gated community at the base of the Petit Piton, St. Lucia’s national symbol. * Height of Petit Piton 2438 ft, Gross Piton 2618 ft on the Caribbean Sea. * Each homeowner of The Jalousie Enclave has deeded access to the Sugar Beach at Jalousie Plantation aka Tides Resort. * The Jalousie Enclave site is 193 acres, of which 100 acres will be developed, leaving the balance as a green barrier. The development will forever include only 72 parcels, a Clubhouse, Reservation Center, two Lakes, and a 20 room Hotel with Restaurant and Spa. * The Tides on Sugar Beach (the old Jalousie Plantation Resort ) is on 129 acres (originally built by the developers of the Tides on Sugar Beach. * Traveling to St. Lucia: New York, Atlanta and Charlotte - 4 hours; Miami - 3.5 hours; Toronto & Montréal - 5 hours; London - 8 hours; Barbados-30 min.; San Juan 45 min.; Trinidad—1.5 hours. St. Lucia is served by: Virgin Atlantic, British Airways, American Airlines, Delta Airlines, Air Canada, US Air & LIAT Airlines, and Jet Blue. Condor will soon start service from Germany. * Roebuck International is building the 250 room Ritz Carlton hotel, located approximately 30 min from The Jalousie Enclave. The project is to start in 60 days. * The fishing village of Soufriere, is located within the World Heritage Site, the center of all St. Lucian tourist activities. 12 www.jalousie-enclave.lc