The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

DEPUTY Prime Minister Philip Davis said yesterday that progress was being made in discussions between the Government and Baha Mar’s developers over the Government’s financial commitment to the company, stating the he was hoping to have a resolution “as quickly as possible”.

Mr Davis, Minister of Works and Urban Development, speaking with reporters yesterday after meeting with representatives of the mega resort development, said: “I met this morning with their representatives and the discussions are making progress. I’m hoping this will be done as quickly as possible but we have to rely on our technical people to advise us, take a judgment on what they are telling us, what to accept, what not to accept and then we sit with the other side and that has been what has been the challenge.”

Mr Davis said: “Some of the keys issues are what is admissible in so far as the costs are concerned and what is not admissible. It is not what was spent but what it was spent on and whether what it was spent on was necessary. I’m having the discussions to enable me to see how I can pay less.”

Under the agreement the Government has with Baha Mar, the Government would be obligated to pay $45 million plus $2.8 million if the cost of the re-configuration of West Bay Street exceeded $70 million. If it was less than that the government only has to pay 50 per cent. The Government agreed to reimburse Baha Mar for its portion once the casino tower reached the 100 foot mark, which occurred in February.