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TUESDAY, SEPTEMBER 16, 2025
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By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMIAN taxpayers will seemingly have to shoulder 96 percent of the second New Providence hospital’s $2.2bn-plus revenue needs via Public Hospitals Authority (PHA) subsidies over a 30-year period. A March 2035 “feasibility study report” on the proposed Perpall Tract healthcare facility, filed with the Department of Physical Planning as part of the
Ministry of Health and Wellness’s application for preliminary site plan approval for the project, revealed that just $84m of the projected $2.28bn in required revenue is currently projected to come from charging patients for care received. The remaining 96 percent, or almost $2.2bn required to cover the new 34,000 square metre hospital’s operating and maintenance costs for 30 years from 2027, is shown as coming from the PHA in “financial support income”. The report said
it “assumes that the project’s annual operating losses are subsidised by the PHA” - the same taxpayer-funded model used to sustain Princess Margaret Hospital (PMH). Dr Michael Darville, responding to Tribune Business inquiries, yesterday said he would have to look into the matter when asked about the report’s contents. However, Dr Duane Sands, the Opposition’s chairman and a former health minister himself, suggested that the financing
Berry Islands on brink of ‘awesome’ revival By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net OPTIMISM is rising that Great Harbour Cay’s 50-year economic stagnation is on the brink of an “awesome” reversal with the Fender family agreeing to sell all their land and other assets to a new developer. Leonardo Lightbourne, MP for North Andros and the Berry Islands, confirmed to Tribune Business that Matt O’Hayer, a US investor who already owns all or part of three cays close to Great Harbour Cay, has agreed what “seems like a done deal” to acquire hundreds of
t "HSFFNFOU SFBDIFE UP BDRVJSF 'FOEFS BTTFUT t 1VSDIBTFS PXOT UISFF DBZT OFBS (U )BSCPVS t )PQFT SJTJOH GPS ZFBS TUBHOBUJPO SFWFSTBM unsold lots, plus the 80-slip marina, long-shuttered golf course, water utility and monopoly fuel concession at the latter destination. While warning that a revival “will not be overnight”, Mr Lightbourne said Mr O’Hayer has already impressed him as someone who “has
the community at heart” having acquired a fire truck and delivered two fire trailers to the island to help combat the blazes that frequently erupt during dry season. The US investor, who some Berry Island residents referred to as “Mr Eggs” because of his role
THE deputy prime minister yesterday asserted it is “regrettable” that funding for Grand Bahama International Airport’s redevelopment has yet to be secured as the Government seeks new financing sources. Chester Cooper, also minister of tourism, investments and aviation, said financing was initially supposed to be procured by the winning consortium
that featured Manchester Airport Group (MAG), which would have had a management agreement to operate the facility. However, since funding has not materialised, the Government is now exploring alternative avenues. “We executed a private-public partnership (PPP) some time ago for the advancement of the airport. It involved the management agreement with Manchester Airport Group that continues to be actively engaged. There were to be Bahamian contractors, which
we celebrated, and there was to be funding provided by the group,” said Mr Cooper. “Regrettably, the funding hadn’t happened. We, at the moment, are organising alternative funding. Whilst I can’t speak to that today, I can tell you that we’re making progress and, in due course, I’ll be making a further statement.” Mr Cooper in February 2024 pledged that demolition work at Grand Bahama International Airport will begin “within the next 30 days” having
LEONARDO LIGHTBOURNE in founding Vital Farms, described by its own website as the “leading US brand of pasture-raised eggs”, has already acquired Great Harbour Cay’s dilapidated beach club from the Fenders and is understood to be transforming it into a boutique hotel with 12 first-phase rooms via a $15m investment. Mr O’Hayer declined to comment when contacted by Tribune Business yesterday, saying only that it was “a little early for
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initially announced the deal with the Government’s private sector partners in March 2023. The funding was originally set to come from the UK government’s export financier and provider of trade credits and guarantees. Tony Myers, Bahamas Hot Mix’s (BHM) chairman, the company itself and CFAL president, Anthony Ferguson, were all members of the Bahamian investor group named as spearheading what was billed as
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Briland tourism partner slams ‘baseless’ claim By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE US partner in a Briland tourism business yesterday slammed allegations that he “preyed” on young Bahamians to ‘front’ for him as “baseless”. Pablo Conde, in a statement responding to the Supreme Court action filed by his ex-Bahamian business partner, seeking more than $5m in damages from
him, argued that the claims were “contradicted” by their October 2023 agreement that gave the latter an “option” to acquire the Harbour Island business and all its assets for $730,710 with payments spread over ten years. He added that this counters Mr Gibson’s claims that he was “preying” on young Bahamians to ‘front’ for him in industries that are supposed to be reserved exclusively
for 100 percent Bahamian ownership under the National Investment Policy. The agreement’s initial phases stated that Mr Gibson wanted to “operate the rental/tour company in The Bahamas free from interference from the LLC [owned by Mr Conde] in a manner that company remains legally autonomous and independent, and follows all of the requirements and
DR DUANE SANDS
DPM eyes Sandals’ Exuma progress as tax row eases
Gov’t seeking new GB airport funding sources By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
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DR MICHAEL DARVILLE
restrictions established by the laws of the Commonwealth of The Bahamas”. However, the agreement also states that paying the $800,000 tax arrears owed to the Government “shall be the sole responsibility of the LLC” and Mr Conde, with Mr Gibson assuming the obligation to pay them from that day forward. And Mr Conde also neglects to mention
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By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net THE deputy prime minister yesterday said the “substantial” resolution of Sandals’ tax dispute with the Government will pave the way for the $100m transformation of its Exuma property into a Beaches resort. Chester Cooper, also minister of tourism, investments and aviation, and Exuma’s MP, said he project should begin “very soon”. He confirmed that the delays stemmed from the much-publicised $30.8m tax dispute between the resort chain and the Department of Inland Revenue, but said that issue has now been “substantially settled” to remove a key obstacle barring the project’s progress. “The terms are agreed. We anticipate signing an agreement very soon. The reality is that Sandals had a dispute as it relates to their
CHESTER COOPER taxes with the Government of The Bahamas. That dispute has been substantially settled, and now it’s a question of them moving forward with the actual signing of the agreement. All of the terms already agreed so we expect forward progress very soon,” said Mr Cooper. The redevelopment of the Exuma property into a family-friendly Beaches
SETTLEMENT - See Page B4