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Subject: Re: Re: Re: Any Closings at Bimini Bay Resort Yet?

Posted by: Ginger
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E-mail: <gjillflesher@aol.com>
Date Posted: July 28, 2004 at 10:24:19
Subject: Re: Re: Re: Any Closings at Bimini Bay Resort Yet?

Message:

I found the following at http://www.investbahamas.org/news.php?nid=2005

Pretty encouraging, despite others attempts to pursue their own pesonal agenda
in this forum.


Remarks By Prime Minister Perry G. Christie At The Signing Of The Amended Heads
Of Agreement For The Rav Bahamas Ltd. Bimini Bay Development.

NASSAU, Bahamas - Wednesday, June 9th, 2004

It has been a long-known fact, one that Bahamians are only too proud to
proclaim, that the Islands of Bimini are truly precious gems in the bejewelled
collection of islands that comprise our blessed country. History reveals that
many great men have either retreated to its shores for literary and artistic
inspiration or trekked through its mysterious environs in search of eternal
restoration. It has even been rumoured that deep within the exquisite fragility
of these islands lies evidence of previous great civilizations, which continue
to capture the world’s imagination. In current times, the “Big Game Fishing
Capital of The World” continues to attract travellers from near and far, in
search of thrilling sport adventures, unparalleled relaxation and the pristine
wonders offered by nature.

As today’s event demonstrates, Bimini has also evolved into a destination for
significant sustained investment, reflecting the confidence in the islands’
natural charm and the continually stable investment environment that our
country has worked so diligently to develop and sustain. In keeping with the
spirit of partnership made tangible through the execution of an impressive
number of development agreements since the commencement of my administration, I
take great pride in bearing witness to the culmination, today of the diligent
efforts made by the Government of the Commonwealth of The Bahamas and Rav
Bahamas Limited, developers of the Bimini Bay Resort, to reach an agreement on
the continued progression of that development in North Bimini on a reduced
scale that will be manageable, viable, architecturally and aesthetically
pleasant and environmentally sound.

This amended agreement between the Government and Rav Bahamas represents a
significant improvement on certain provisions of the previous agreement made
between both parties. The signing today represents the fulfilment of a
commitment made by my Government when it first assumed office, that we would
work assiduously to reach an agreement with the Developer and to foster a sense
of mutual responsibility and respect, that would guarantee the continued
implementation of a world-class resort and allow both parties to achieve
important objectives, while at the same time promoting and protecting the long-
term public interest.

In the execution of the development, Mr. Gerardo Capo and his fine team commit
to upholding the provisions of the previous agreement that would ensure the
utilization of Bahamian suppliers of quality goods and materials, including
farm and marine produce; the promotion of Bahamian art and local culture; and,
importantly, there is the continued assurance that opportunities for enterprise
will be made available to Bahamians in the operation of retail shops, water
sports, entertainment attractions and other ventures that will add to the
resort’s appeal and allure.

Today’s amended agreement seeks to add significantly to the economic and social
landscape of Bimini, as it re-affirms the Developer’s commitment to carrying
out a first-class resort development that will provide meaningful avenues
through which Bahamians in general, and Biminites in particular, will be able
to enjoy an improved way of life.

Over the course of the next four to five years, Phase One of the Bimini Bay
Resort development will include a $70 Million investment in a world class, 400-
room hotel and an appropriate casino, featuring a magnificent marina, docking
facilities and associated amenities, capable of accommodating mega-yachts and
other pleasure vessels. An upscale residential subdivision will offer estate
homes, condominiums and timeshare units with spectacular ocean and resort
views. An equally impressive 18-hole championship golf course is planned,
designed by world-renowned golf course specialists Robert Trent Jones.
Additionally, a vibrant commercial centre with shops and restaurants, as well
as a straw and craft market are all planned elements of the diverse mix of
features that this development will doubtless have to offer.

I am encouraged to learn that Rav Bahamas has already commenced vertical
construction of the residential component of the development, currently
employing over 100 persons and is ahead of schedule toward the completion of
Phase One. Upon completion of this first phase, the resort is expected to
employ some 300 Bahamians in various positions. To ensure that this need is
fulfilled and that employment levels are sustained, Rav Bahamas has committed
to implementing on-the-job multidisciplinary training and apprenticeship
programmes, in close collaboration with the Ministry of Education and the
Bahamas Technical and Vocational Institute. Further, for this and future phases
of the development, there is to be employment of local architects, contractors,
engineers and other design and construction professionals.

Additionally, through the coalescence of technically competent advisers on both
sides, we, both the Government and the Developer have undertaken to gain a
greater appreciation for the sensitivity and uniqueness of the environmental
habitat of North Bimini, and where possible, to protect the natural resources
of that area. As such, we have seen to the creation of a mechanism by which the
Developer will provide the Government on a regular basis with Environmental
Impact Studies and Environmental Management Plans specifically designed to
govern future development activities and to make certain that mitigation
measures are established for the preservation of the environmental integrity of
North Bimini.

The Government and the Developer have also recognized the fragility of the
marine and ecological habitats of North Bimini, and have agreed that in the
development of those areas deemed to be the most sensitive, there will be a
mutual agreement on the type of development to be undertaken. This agreement,
in particular is most significant, as it demonstrates this Developer’s
commitment to involve the Government in determining how best to proceed with
future stages of the development. I speak on behalf of the Government when I
say that we certainly look forward to continuing this meaningful partnership.

My Government is further encouraged by the Developer’s commitment to make a
significant social contribution to the people of Bimini, through the
construction of a primary school for 250 children, the provision of a fire
truck and pertinent equipment and by endeavouring to assist in the
beautification and clean-up of North Bimini. One can only imagine the long-term
positive effects that such efforts of goodwill will have on the citizenry of
those islands. Already, the people of North Bimini have begun to benefit from
the water-production capabilities of the Bimini Bay development, as potable
water has now been made available, in conjunction with the Water and Sewerage
Corporation, through the state-of-the-art reverse osmosis plant on site. I wish
to take this opportunity to express the deepest appreciation of my Government
to Mr. Gerardo Capo, a well known Florida developer for this major investment
and generous contributions towards the betterment of the Bimini community.

In recognition of the expected increase in air travel to Bimini as a result of
this development and the ever-evolving challenges of the current geopolitical
and security climate, I wish to take this opportunity to mention my
Government’s commitment to upgrade to Federal Aviation Authority and
international standards, the South Bimini Airport. The Government also intends
to move deliberately toward the fulfilment of the agreement to upgrade the road
system on North Bimini, for improved vehicular traffic and access to the
resort. Coupled with the Developer’s agreement to designate the development a
golf cart community, we would have achieved a marked improvement to the quality
of life of those individuals who reside on and visit that island.

I would wish to conclude by saying that the achievement of this amended Heads
of Agreement represents a triumph over seemingly insurmountable challenges.

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Re: Re: Re: Re: Any Closings at Bimini Bay Resort Yet? - Bill 8-06-04