PRIME Minister Hubert Ingraham said the Government will honour the agreement with Ginn Resorts and will ensure that it is beneficial to the developer and Bahamians, according to Associated Press. The Prime Minister's statement followed an hour-long presentation by Ginn principals on the proposed multi-billion dollar development for West End, Grand Bahama. at the Conference Room of Police Headquarters on Tuesday August 28.

"The Government has an agreement with Ginn. It important that the Government follows its side of the bargain (and) make Ginn honour its side of the bargain,- Mr Ingraham said. Cabinet ministers, permanent secretaries, senior civil servants and high-ranking members of the Royal Bahamas Police Force were informed of the major development in West End, Grand Bahama. at a Cabinet meeting held outside of the Churchill Building.

"I wanted to make sure all person who are involved in making decisions for the Government are familiar with the project and would commit themselves to being responsive, and to the request that Ginn is making, the Prime Minister said. He also said that Ginn has bought additional land, which was not included in the original Heads of Agreement with the Government signed on Friday, December 9, 2005. Ginn has acquired the extensive Sammons Holdings at West End, comprising 1,957 acres of land. 'They would be coming us for whatever arrangements they wish to make for the Old Bahama Bay property. That would give us an opportunity to ensure that polices are agreed to," the Prime Minister said.

President and CEO of Ginn Resorts Bobby Ginn said that over the past several years work has been going on through the sale of land. He said that without selling lots, his company would not be able to develop the thousands of acres needed for the project to proceed. "Without selling lots you cannot develop thousands of acres in our opinion. So we start with the hardest part first, by selling lots so what that does is create those facilities that have to be done. We have actually closed on over $200 million worth of sales in this project," he said.

Mr Ginn asked that comparison not be made until the entire business model is understood. He said the goal is to generate permanent employment through the type of environment being created at the project. The development, pegged at an estimated $4.9 billion and to be completed within five to six years, will include a 4,400 condominium hotel unit, 870 single family residential home sites, two championship golf courses and clubhouses, two large marinas, private airport, casino, swimming pools and water park facilities, tennis complexes, beach clubs and spas, various commercial undertakings and retail businesses to be operated by Bahamians; and other amenities.

Source: The Tribune