Comments on: Minister On Guarantees For Morgan’s Point

By: bold

bold — Tue, 22 Mar 2016 12:16:18 +0000

ok – so is it a productive use or not? You can’t have it both ways. Also, the remediation was a legal requirement, absolutely nothing the government could do about it

sit down, it will muffle your words

By: bold

bold — Tue, 22 Mar 2016 12:10:34 +0000

To stimulate the economy! Good grief, it’s like teaching my 5 yr old.

The remediation was a legal requirement, they had no choice.

By: bold

bold — Tue, 22 Mar 2016 12:09:01 +0000

Except that, under this Government, you simply have to submit a PATI request and ask that very question.

The OBA are having to spend YOUR taxes in finding where we all know the missing millions when under the PLP.

By: What??

What?? — Tue, 22 Mar 2016 10:58:42 +0000

They have to earn $548 million/per year for a comparable return on equity of $600 million. Wow!

By: why tho

why tho — Mon, 21 Mar 2016 23:12:44 +0000

How exactly will this bring tourists to Bermuda? Why didn’t they create something extraordinary that could really boost tourism. An Atlantis type resort would have been a good idea.

By: Young Person Talking

Young Person Talking — Mon, 21 Mar 2016 22:43:01 +0000

I just wonder what the hotel packages are going to be and would Bermudian people be paid to the cost of living because everything is going up and the tourist season really ain’t doing so good right now. We will get a lot of revenue from the cruises but hotel prices are ridicules and don’t include a lot of with what they are paying out more tourist I have heard lately are going down to other islands simply because its so much cheaper and offers so much more for what you are paying. Its a great location for the redevelopment it looks really nice but you have to wonder what else would the hotel be offering to make tourist want to come and stay there.

By: Liars

Liars — Mon, 21 Mar 2016 21:09:30 +0000

anything that government has a hand in, ends up costing me money!
Why is government giving anything to these billionairs l ask?

By: OBA again !!!!!!!

OBA again !!!!!!! — Mon, 21 Mar 2016 20:13:04 +0000

“Mr. Speaker, as previously announced, Government has supported the financing of this project by committing to provide a guarantee of up to $165 million for a project cost of $400 million. Government has also helped to enable this very productive reuse of the former Naval Operating Base by spending in excess of $18 million to remediate the property”

LOL and I thought we had no money Bob! After all the persistent attempts to force Government workers to accept continued furlough days!

By: Onion Juice

Onion Juice — Mon, 21 Mar 2016 19:12:51 +0000

This Government….please.

By: Jus' Wonderin'

Jus' Wonderin' — Mon, 21 Mar 2016 18:11:30 +0000

You don’t know what you’re talking about….lmfao!

By: serengeti

serengeti — Mon, 21 Mar 2016 17:47:24 +0000

A new hotel, construction jobs, hotel jobs, tourism jobs. New tourist attraction.

Jobs, infrastructure, and high-end tourism.

Gotta love it.

By: San George

San George — Mon, 21 Mar 2016 17:14:40 +0000

Low ball price – if they can do it for $400 mill. let them build the Airport.

These guys have to generate $1.6 mill. per day in revenue just to earn a comparable rate of return on equity (est. $600 million)that other publicly owned hotels earn. Very difficult in Bermuda given the decline in tourism. OBA should not have this much power.

By: Onion Juice

Onion Juice — Mon, 21 Mar 2016 16:45:00 +0000

$18 million to remediate the property.
Mmmm where have I heard $18 million before.

By: Vote for Me

Vote for Me — Mon, 21 Mar 2016 16:41:54 +0000

Great news but details are important.

Given the government guarantees, the public should be apprised of the actual loans granted by the Bermuda based IB companies and the related interest rates.

Proof of the IB support will be evident if the interest rates on the loans reflect the Bermuda Government guarantee. On that basis, the rates should be low since there is virtually no risk of loss to the IB companies.

By: Jeremy Deacon

Jeremy Deacon — Mon, 21 Mar 2016 16:33:51 +0000

“1. First major productive reuse of former base-lands” A sad indictment of successive governments

By: Bermuda

Bermuda — Mon, 21 Mar 2016 16:23:25 +0000

I hate to be negative, particularly as I wholeheartedly support the redevelopment of this site into something useful, but I’m a little confused. I see lots of beaches in areas where they don’t occur naturally. How are they planning to get the sand to stay there, and has a comprehensive Environmental Impact Assessment been done? Also, why is the Government helping to finance this exactly?