Column: OBA’s Fahy On Morgan’s Point & More
[Opinion column written by Michael Fahy]
The people of Bermuda deserve clarity on Morgan’s Point.
In mid-August, I posed a number of questions regarding the status of Morgan’s Point. By way of reminder, I asked:
- How does the recently proposed medical tourism facility tie into the plans announced by the Premier in 2024, where the Premier announced a major redevelopment of existing partially completed housing and a retail park?
- Was the Memorandum of Understanding [MOU] for the development of medical tourism approved by the Morgan’s Point Development Company Board, the company created by the PLP by statute to manage Morgan’s Point?
- How much land at Morgan’s Point will be utilized for the medical tourism project?
- Has the previously announced retail development park been put on the back burner?
- Is the medical tourism facility going to be built on land leased or purchased?
Imagine my surprise when the parliamentary order paper recently revealed that Zane DeSilva, the Minister responsible for the Morgan’s Point Development Company [the Company] was to make a ministerial statement on Morgan’s Point. Would there be information on the proposed medical tourism facility? Would I get answers to my questions? Imagine my disappointment when the Ministerial statement did not in fact say anything about the medical tourism MOU. I should not have been surprised or disappointed.
Instead, the Minister advised that this year the Company Board opened bank accounts at Bermuda Commercial Bank, chosen a corporate service provider [Carey Olson] and established its operational base to commence feasibility and clean-up activities. Let’s remember that the Act of Parliament to create the Company was passed in 2022. Pretty slow going, a point I made to the Minister.
What we learned through posing questions on the floor of the House of Assembly to the Minister and the Premier is that:
- The MOU signed to create a medical tourism facility was not in fact signed with the Company, rather it was signed directly with the Government of Bermuda. Very interesting, since Morgan’s Point is supposed to be managed by the Company.
- The MOU says nothing about how much land at Morgan’s Point will be used for the proposed facility. Strange given the Company Board is conducting studies on the best use of the land.
- The MOU may be disclosed upon receipt of legal advice from the Attorney-General’s chambers. Let’s not hold our breath.
It has taken so long to set up bank accounts for the Company since it apparently takes too long to get approval and that the Bank of Butterfield is especially slow [so says the Minister despite the fact that the Company accounts were opened at Bermuda Commercial Bank].
The Minister does not accept the Premier’s announcement in 2024 of major development at Morgan’s Point was premature [despite the fact that the Company is still undertaking development feasibility studies]. Of course, he had to say that since he was sitting next to his boss, but it is obvious the announcement was premature.
So, things are not actually clear as to what is going on at Morgan’s Point.
In summary, we have a Company that has only just managed to open bank accounts and appoint a corporate service provider after three years of the Company being created by Parliament. We have an MOU signed to build a medical tourism facility not signed by the Company, when it is the Company that is responsible for Morgan’s Point. We have no updates on the previously announced retail park and housing [that was to alleviate the lack of housing]. I should also remind you that, until recently, the Company fell under the remit of the Minister of Finance [Premier Burt] but was switched to the Minister of Housing and Municipalities [Minister DeSilva].
Let’s just say we had more questions than answers after Friday’s session.
On another note, the Bermudiana Beach Residences are being advertised for monthly rent as follows:
Studio: $3500-$4600 [no fridge or stove but there is a two-burner cooktop, microwave and mini fridge with space for a mini-freezer]
One bedroom: $3800- $4600
Two bedroom: $6000- $7600
Three bedroom $6500- $7600
The website where you can find the ad says, “Whether for corporate housing or extended executive visits, Bermudiana Beach Residences offers a unique beachfront lifestyle with resort-style amenities and all the comforts of home.”
I will leave you to decide whether this facility will help Bermudians during a housing crisis.
- Shadow Housing & Municipalities and Home Affair Minister Michael Fahy
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