The Tribune

By RICARDO WELLS

Tribune Staff Reporter

rwells@tribunemedia.net

A GROUP opposing the One Eleuthera Foundation’s (OEF) acquisition of Lighthouse Point has dismissed the organisation’s latest pitch for the property as “last minute public relation move” riddled with “grave concerns”.

In a statement released yesterday, the Eleuthera Community Support Group (CSG), said the newest plan complied by the Lighthouse Point Partners (LPP) - a coalition environmental organisations and local developers co-founded by the OEF to aid its acquisition of Lighthouse Point - still does not fully address the financial capabilities of the OEF and its donors.

CSG said LPP, in its new proposal, only lists its partners as funders of their initiative while providing only “letters of interest” from other possible partners and then promises to seek global eco-tourism hotel brands to build out the hospitality-focused parts of the development.

CSG said the proposal does not firmly lay out a trajectory for the development.

Additionally, the group also noted that through an unclear mixture of existing funding and grants, along with the vague mention of development partners, LPP’s claim that it can come up the $23m necessary to fund their development, does not seem feasible given the lack of clarification over the land acquisition costs - land which CSG notes, “is already under contract for sale to Disney Cruise Lines”.

CSG contended: “This is the same private land on which the One Eleuthera Foundation claimed they made an offer. Upon further investigation by the media it was revealed that beyond a verbal discussion, no such offer was made.”

CSG also noted the Bahamas National Trust’s recent indication that operational expenses and upgrade costs propelled it into a partnership with Albany to develop a beach club and restaurant in the middle of the Exuma Cays Land and Sea Park.

The group said this, in addition to the lack of clarification over exactly how much organisations like the Leon Levy Foundation and the Holowesko Group are willing to provide, leave more question than answers.

CSG said: “Other development partners have been tepid, only supplying expressions of interest and noting that they have failed to complete the necessary due diligence.”

The group added: “The Lighthouse Point property has been on the market for eight years. After nearly a decade, the funds for the LPP development have not yet been secured. “Are Eleutherans supposed to continue waiting while they continue to search for funding?”

CSG furthered: “Interestingly, despite all the noise in the market about stopping foreign interests, the LPP’s plan is still reliant on global eco-tourism brands to make their project a success, which they have promised to see to, but have also not yet secured.”

LPP’s proposal says if the coalition is successful, its project would be designed to stimulate and facilitate economic opportunity in the surrounding communities by attracting global brands as “anchors” to provide the stable economic underpinning upon which local entrepreneurship could operate.

Another issued questioned by CSG yesterday is the economic impact claims made by the OEF in its revised plan.

CSG noted that in its original proposal made in March, OEF claimed that 200 permanent jobs would be created with one-time economic contributions including $2.1m in earnings and $9.5m in economic output annually.

The group said, without explanation, the revised plan suggests that there will now be 350 plus jobs - 190 permanent and 166 temporary - created, with one-time economic contributions including $11.25m in earnings and $16.9m in economic output annually.

These new numbers, according to CSG, represents a 75 percent increase in job creation; a 436 percent increase in earnings and a 78 percent increase in economic output annually.

“…. Without explanation,” the group noted.

“In the same vein, in the March proposal, the average salary for workers hovered around $18,300 annually. In the September proposal, that number has increased to about $39,900 annually—again, with no explanation.

“Despite the increase, there is no mention of the possibility of overtime or health benefits.

“Are the increases in these figures real, or simply an attempt to beef up the numbers in a last-minute public relation move?”

CSG added: “… In our brief review of the revised plan, we became very worried about the promises made regarding jobs and ownership opportunities. Not only has there been an unexplained 75 percent increase in the estimated job creation, but also no plan for maintaining these jobs through consistent business has been laid out in the proposal. Similarly, the March 2018 proposal claimed ‘increased visitation can create ownership and entrepreneurship opportunities’ for Eleutherans, but provided no details on how they would achieve increased visitation.”

Despite this being an entirely new development, CSG pointed out that marketing is only mentioned once in the latest proposal.

“‘If we build it they will come,’ is not enough for Eleutherans who are energised by the prospect of new ownership and employment opportunities,” the group said.

“Both the new and original proposals are full of this kind of vagueness,” CSG added.

To close out their statement yesterday, CSG highlighted six reasons why it was supporting Disney and not the LPP group.

Among them, CSG noted Disney’s plan to construct an open-trestle pier which, reportedly, would impact natural ocean currents less than a traditional pier design and would require little, if any, dredging.

The portion of the project, as slated, will be covered by almost half of Disney’s $400m budget.

Secondly, CSG noted Disney’s proposed expansion for the Bahamas over the next two to four years.

Thirdly, the group contended that Disney has been clear in the amount of jobs it will generate - 100 plus jobs through the construction phase and 120 to 150 permanent, year-round jobs - and salaries those positions will earn; $600-700 weekly, or approximately $32,500 a year.

Additionally, CSG highlighted Disney’s plan to permit ownership opportunities for Eleutherans through the creation of port adventures as a huge positive. The group said the move will allow locals to showcase their unique sites and sell their products.

The final two points listed by CSG was the guaranteed business that comes along with the Disney brand and the cruise line’s pledge to immerse cultural elements into the very design of the Lighthouse Point development.

Denny Rankin, a renowned bone-fishing guide and former Bahamas Fly Fishing Industry Association board member, serves as CSG chairman.

Central and South Eleuthera MP Hank Johnson’s wife, Shelly Johnson, is also a member of the organisation.

Prime Minister Dr Hubert Minnis and his Cabinet are expected to make a final decision on the project tomorrow.