The Tribune

By Fay Simmons

Tribune Business Reporter

jsimmons@tribunemedia.net

The Attorney General yesterday said legislative reforms that will empower the Bridge Authority to expand its responsibilities will facilitate the $45m-$50m transformation of Eleuthera’s Glass Window Bridge.

Speaking in the Senate, Ryan Pinder KC said the Bridge Authority Amendment Bill, which will provide the framework for every bridge in the country to be constructed, managed and maintained by the Bridge Authority, is important to mobilising the required financing to repair the bridge that connects North and South Eleuthera.

He said the bridge, when repaired, will improve the island’s tourism product and residents will be able to capitalise once visitors are able to safely access the landmark. “It’s a small piece of legislation, but it’s not inconsequential,” said Mr Pinder.

“It’s a very important piece of legislation, and I’m going to look at the eyes of the residents of Eleuthera and promise and tell you that by way of this amendment, we will be rebuilding the Glass Window Bridge into a modern passage across from the north to the south with a touristic element.

“An element where Bahamians can capitalise on the rebuild efforts by having a touristic destination. Because right now, when tourists come to see the Glass Window Bridge, they dangerously park on the side of the road. They get out of their cars, and they have to, because it’s all they can do, walk in the middle of the road to go see the experience,” he added.

“This needs to be a better thing. We need to develop as part of the rebuild a safe, touristic component. And I’ve seen the plans. I’ve seen them. I know it’s going to happen. It’s been budgeted. We have our consultants in place. We’re finalising that agreement.”

Mr Pinder said replacing the Glass Window Bridge is a “highly cost prohibitive” venture that will cost between $40m to $50m, with some estimates reaching upwards of $100m. “To replace the Glass Window Bridge by a central government initiative is highly cost prohibitive, and probably, I think the latest estimates, to the tune of $40m to $50m is the basic amount,” explained Mr Pinder.

“I’ve seen some quotes actually of upwards of $100m to build a new Glass Windows Bridge in a way that it is safe to traverse, and it is not subject to being knocked off its axis or otherwise by the severe weather. One of the historical challenges that governments have faced is I have to raise $50m for a bridge in Eleuthera and then I probably have to raise another $50m for bridges in Andros, another $50m for bridges throughout other parts of the Family Islands.”

Mr Pinder said the Bill will allow the Bridge Authority to take advantage of “creative loan financing” and public-private partnerships (PPSs) to undertake bridge infrastructure repairs throughout the country.

“We are now amending the Bridge Authority Act, by way of this Bridge Authority Amendment Bill 2024, to make it clear that the scope of application to the Bridge Authority goes now beyond Nassau and goes to any area so designated by the minister by an order,” said Mr Pinder.

“The reason why that’s important, because I know some people will say, well, why don’t the Government just fix it? When you utilise an established authority with an established revenue stream and an established independent governance structure that can be audited, that can be vetted, you now have a framework to allow for different types of financing alternatives to do this important infrastructure work.

“And so you would be able to do public-private partnerships, and you would also be able to do creative loan financing because you have the basis and an Authority without it having to go through the hoops that we know of through the central government system.”

Mr Pinder said the Glass Window Bridge, as well as the bridge in Andros near the Naval Base, will be the first two bridges rebuilt through PPPs facilitated by the Bridge Authority.

“That’s a very important reason for this amendment, and I can tell you that the two bridges I mentioned are first and foremost to be either rebuilt or rehabilitated through this framework of PPPs and creative financing by utilising the Bridge Authority, which is the baseline for this amendment,” said Mr Pinder.

“Also, the second part of the amendment would allow for property to be owned and held by the Bridge Authority, which is an important component when you’re looking at creative financing alternatives.”