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BUSINESS: D’AGUILAR SAYS NEW TAX EVASION CLAIMS ARE LIES
$4m annual bill to market Baha Mar Govt also pledges to solve issues at landfill
By TANEKA THOMPSON Tribune News Editor tmthompson@tribunemedia.net THE government has committed to contribute $4 million a year for eight years for marketing of Baha Mar upon the opening of the resort’s casino, according to the heads of agreement signed between the Christie administration and CTF BM. The document, signed on April 25, was released to the media last night. It outlines a number of concessions granted to the new buyer of the beleaguered resort, including value added tax (VAT) exemption for the project’s completion until the end of 2019 and write off of $10m in casino debt. And while stressing that there must at all times be “continued efforts” to maximise Bahamian employment at the resort, the government has allowed for the granting of up to 300 work permits for non-Bahamian workers in senior management positions, those with technical or specialty skills including brand management, “where there is a demonstrable need and lack of qualified Bahamian applicants”. The Heads of Agreement (HOA) notes that after the first 18 months of operation of the resort and casino, work permit numbers are projected to drop to 200. The resort will also be exempt from the payment of real property tax for 10 years “commencing on the
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VOLUME:114 No.110, MAY 1, 2017
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MINISTRY IN BID TO GET FYRE FESTIVAL VENDORS PAID
By KHRISNA VIRGIL Deputy Chief Reporter kvirgil@tribunemedia.net WHILE the country’s image has been “insulated” from any direct repercussions stemming from the failed Fyre Festival in Exuma over the weekend, Ministry of Tourism Director General Joy Jibrilu confirmed yesterday that officials were in the process of determining which local vendors are still owed money for services by event organisers. However, she said Fyre Festival’s international promoters have assured officials that all outstanding debts will be paid. SEE PAGE SIX
‘MORTIFIED’ JA RULE SAYS EVENT WAS NOT A SCAM
By AVA TURNQUEST and KHRISNA VIRGIL Tribune Staff Reporters
THE BAHA Mar resort, whose heads of agreement have been made public. date of opening for business of each facility within the project.” The HOA also commits the government to solving the long-standing issues plaguing the New Providence Landfill and addressing the issue of unreliable electricity supply in the capital by the end of this year. The timing of the release of the HOA coincides with the end of the government’s self-imposed deadline to push for the release of the sealed Supreme Court documents relating to the sale of the resort to Chow Tai Fook Enterprises (CTFE). However those documents remain under the court or-
dered seal and as a result, the sales price and other conditions involved in the process are still unknown. On the issue of marketing, the HOA states that the government has already invested $16m for co-operative marketing of the resort. Despite this, the government and Baha Mar’s new buyer have both committed to contribute $10m for a marketing campaign to reintroduce Baha Mar to the marketplace, with $5m of this sum due by September of this year. “During the eight year period commencing on the opening of the new casino, the government shall contribute $4 million per annum towards the costs and
Photo: Terrel W. Carey/Tribune Staff
RESORT ASSET TRANSFERS VAT AND DUTY FREE SEE BUSINESS expenses of the marketing activities of the project company . . . on a basis to be matched dollar for dollar by the project company. “ . . . The government has already contributed $16m for co-operative marketing to the project pursuant to the HOA with BML (the previous developer). Notwith-
standing any contributions already made, the government further agrees to enter into a co-operative marketing campaign with the project company on a match funding basis, to which the government and the project company will each contribute $10m, subject to substantial progress toward completion of the project. “ . . .As part of such marketing contribution, by September 30, 2017, the government shall contribute up to $5m towards the costs and expenses of the marketing activities” with the balance to be paid on a date to be mutually agreed, the document notes. SEE PAGE 12
PM’S WIFE AND DAUGHTER WERE ‘SEVERAL STREETS AWAY’ FROM SCENE OF SHOOTING By KHRISNA VIRGIL Deputy Chief Reporter kvirgil@tribunemedia.net PRIME Minister Perry Christie’s wife, Bernadette, and daughter Alexandria, were campaigning several streets away from an incident where a man was shot as he was walking through Mason’s Addition on Satur-
day night, according to Senior Assistant Commissioner of Police Stephen Dean yesterday. Senior ACP Dean told The Tribune that the prime minister’s family members were not in any danger because they were not in the immediate vicinity where the incident occurred. However there was some
confusion yesterday over this situation as a wellplaced source within the Progressive Liberal Party told The Tribune that the incident happened “right across from” where the prime minister’s wife and daughter had been campaigning. SEE PAGE SIX
Nassau & Bahama Islands’ Leading Newspaper
AS the chaos surrounding the failed Fyre Festival in Exuma caught international headlines over the weekend, “mortified” coorganiser Ja Rule denied Friday the claims that the luxury music festival was a scam. The American rapper, whose real name is Jeffrey Atkins, told The Tribune that he was heartbroken and confused by the ordeal but was focused on the safe departure of all guests and facilitating refunds. SEE PAGE SIX
POOR TURNOUT FOR CARNIVAL IN GRAND BAHAMA By KHRISNA VIRGIL and DENISE MAYCOCK Tribune Staff Reporters
AFTER confusion early last month over Bahamas Junkanoo Carnival dates, officials yesterday admitted that attendance at the event’s kick off in Grand Bahama “was not as robust” as last year, but declined to state publicly reasons for the fall off in numbers with festival goers. Bahamas National Festival Commission (BNFC) CEO Roscoe Dames said yesterday he was not in a position to give specific attendance numbers, but confirmed that compared to 2016’s event, this year’s numbers were “different”. SEE PAGE 12