The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Eleuthera Chamber of Commerce yesterday urged the Government to grant a three-year extension to the island’s Family Island Development Act incentives, its president describing this as “crucial” to developing its economy.

Speaking with Tribune Business at the fourth annual Eleuthera Business Outlook conference, Thomas Sands said the Chamber has been in preliminary discussion with the Government, aided by its Nassau-based counterpart.

Mr Sands told this newspaper: “We have had some preliminary discussions though the Ministry of Local Government, with the assistance of the Bahamas Chamber of Commerce, directly with Minister [Hope] Strachan requesting the extension of Eleuthera’s inclusion in the Family Island Development Act.

“We contend that it took a number of months for anyone to understand how to access it. In addition to that, as persons decided they were going to acquire real estate, it took some time for them to get to the point where they could close on the real estate.”

He added: “A lot of people are trying to get approvals for construction so they could begin construction. Therefore, it ending in June is really limiting their abilities.

“We have also had some communication from Bahamians in Nassau who own property Eleuthera, and would like to have adequate time to build and access this opportunity. They’re talking about vacation rental properties.

“We believe that it is crucial at this particular point to continue to assist the larger economy of Eleuthera. This could create opportunities for Bahamians, and also address housing issues, which would be a problem given the developments proposed to take place. We ask if that could be extended at least a minimum of three years to allow people time to access it, prepare and take advantage of that opportunity.”