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News : Bahamas Information Services Updates Last Updated: Mar 11, 2019 - 8:25:22 PM

PM Minnis on the Disney Heads of Agreement
By Office of the Prime Minister
Mar 11, 2019 - 8:07:32 PM

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STATEMENT:  Nassau, Bahamas - Prime Minister the Most Hon. Dr. Hubert Minnis issued the following statement on the Heads of Agreement for the proposed development at Lighthouse Point, Bannerman Town, South Eleuthera:

“In the interest of transparency and accountability the Heads of Agreement signed with Disney Island Development, Ltd on Thursday, March 7, 2019 will be tabled at the earliest meeting of the House of Assembly, on Wednesday, March 20, 2019.

“The Government announced the signing of the Heads of Agreement at a Town Hall meeting in South Eleuthera on March 9, 2019 out of respect for the island’s residents.

“Immediately following the announcement, the Office of the Prime Minister released an extensive press release outlining key points of the Heads of Agreement, including:

  • Construction of the project will not begin until the Environmental Impact Assessment and Environmental Management Plan are reviewed and approved.
  • Approximately 190 acres of the land purchased from the private seller, including the southernmost point of the property, will be conveyed to the Government of The Bahamas for conservation and a national park. The appraised value of the land donation is $6.29 million.
  • The creation of 120 construction jobs, and 150 permanent jobs with health benefits in a range of positions for Bahamians.
  • A variety of entrepreneurial opportunities for residents of Eleuthera and Bahamians in general.
  • Access to the property for all citizens and residents of The Bahamas for non-commercial purposes.
  • Integration of Bahamian cultural and artistic expression into the design of the site and experiences offered.
  • Disney will partner with agencies to develop training and professional development programs, including the LIM Maritime Academy, Access Accelerator (Small Business Development Center) and the Hospitality Institute of the University of The Bahamas.

“This project is line with the government’s plan to expand the economy of our country and economic opportunities for our people by promoting development in the Family Islands.

“I want to assure all Bahamians of the Government’s commitment to act in the best interest of Bahamians, at all times, in an accountable and transparent manner.”

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