Gov't looking to wrap up February Point deal

As of Tuesday, August 20, 2013

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE Government appears to be set for one final wrap up meeting before moving to approve the $8.3 million purchase of Exuma’s February Point.

Minister of State for Investments Khaalis Rolle told Tribune Business yesterday: “We’re just waiting for another meeting with them, with the investors and the group and that should be the final hurdle. We’re just waiting on them now. It’s a final wrap up. obviously the Government has to know and see everyone that’s behind the investment.”

Tribune Business has reported previously that Florida-based investor, John McGarvey has emerged as the front-runner to acquire the upscale February Point development, having signed a sales agreement with existing owners, the Hart family for the 85 acre property. He came to the forefront after Toronto-based real estate developer, The Talisker Corporation, pulled back from its initial interest in acquiring February Point following a period of due diligence.

Prime Minister Perry Christie said earlier this year that there were “major plans” for expansion of February Point, “which will create further economic opportunities and a significant number of additional jobs”.

Together with his acquisition of the former Coconut Cove property, and his proposed Stocking Island project, Florida-based Mr McGarvey has become one of Exuma’s most prominent investors in a relatively short period of time.