Minister of Housing and Urban Renewal, the Hon. Keith Bell refuted claims that the Carmichael Village Housing Project is being funded through a phantom company in the House of Assembly on Monday.
The issue was previously raised by the Leader of the Opposition, the Hon. Michael Pintard. In a statement dated November 23rd he said, “the Free National Movement made a troubling discovery in the Ministry of Finance’s latest Public Debt Statistical Bulletin current fiscal year. Buried in the report is a transfer of an additional $10.2 million dollars of public funds into a company called Carmichael Village Development Project Ltd. This raises the total amount funneled into this phantom entity to $20.2 million dollars.”
Minister Bell told Parliamentarians, “the company exists. It was properly constituted. It was created for one purpose, to oversee the delivery of homes for Bahamian families. This honourable house was further advised that the entity would secure project financing in the amount of $20 million and this administration answered multiple questions on the company and its financing structure. With a proper, efficient structure in place the project finally moved forward.”
