The Tribune

By RASHAD ROLLE

Tribune Senior Reporter

rrolle@tribunemedia.net

PRIME Minister Dr Hubert Minnis said applications for the Prospect Ridge community for young professionals will be available online in the first week of July.

A committee will keep the application process open for a full six weeks.

“This will allow prospective applicants to become familiar with all criteria and have an even opportunity to collect all of the requisite documents and to obtain financial qualification letters from their financial intuitions,” Dr Minnis said. “The government is also working to achieve a public private partnership for the installation of the infrastructure in the community.”

In April, Dr Minnis said the definition of young professional is broad.

“We consider a professional as someone who is accomplished in his or her field, sufficiently independent to sustain a mortgage or financial responsibility for a residential dwelling in a community,” he said at the time. “This community is not restricted to particular type of academic or professional training. You don’t have to be a lawyer, you don’t have to be a doctor or an engineer to qualify. A barber properly qualified is a professional. A plumber properly qualified is a professional. A beautician with proper qualifications is a professional. Police, Defence Force (officers), they are professionals. A teacher is a professional and that’s just to give a few examples, and so is a farmer. He is a professional so I don’t want people to misconstrue that a professional is only a doctor, lawyer or accountant, no, a professional has great definition.”

He said those selected will be able to save up to $29,000 by spending $1,000 to purchase one of ten architectural designs the government will make available.

He noted those selected will pay no stamp tax and no real property tax for two years in addition to other concessions.

Those eligible for one of the 250 available lots must be younger than 45-years-old and resident in The Bahamas. Other islands are also included in the government’s serviced lots initiative, part of the Minnis administration’s commitment to advance land ownership.

“In the Central Pines extension on Abaco, 18 lots are presently being prepared, with an expansion planned in 2022 for an additional 40 lots,” Dr Minnis said yesterday.

“In Spring, City Abaco, 21 lots with homes are presently being prepared with the necessary works, with an extension of an additional 115 in 2022. On Grand Bahama, we have made the decision to proceed with the McClean’s Town housing project started under the prior administration and to add these properties to the serviced lots initiative.”

He said the government has completed water infrastructure in the community and will move to complete the electricity installation.

The McClean’s Town Subdivision has 40 residential lots, seven multi-family residential lots, and five commercial lots, Dr Minnis said.

The residential lots will now also be eligible to the concessions available under the Access to Affordable Homes Act.

“Additionally, being sensitive to the hardships faced by the families in East End, we have also decided to offer the properties at 50 percent of the assessed value. The properties range in size from approximately 13,000 to 20,000 square feet. They were assessed at $10,000 to $20,000. We will make them available to potential homeowners at $5,000 to $10,000.”