The government has signed a heads of agreement with Kakona South Abaco Development. The signing event took place at the Office of the Prime Minister this week.
Thomas Boynton, CFO of Kakona South Abaco Development outlined some of the obstacles that had to be overcome to get to this point. “We had a minor legal issue that came up that also took six and half years to work through the Bahamian court system. We prevailed on that, it was a boundary dispute, but we prevailed on that. By that time Prime Minister Ingraham was out of office, Prime Minister Christie was in office but he was on his way out of office. So after we had gone through all of that we decided, Steve and myself, we decided that what we had proposed in the beginning was not the right development for Abaco, it just wasn’t going to work. So we literally took all the money that had been invested and threw it away and started over.”
Minister of Tourism, Investments and Aviation, the Hon. Chester Cooper was also at the signing. He said, “this is going to be a boost for the entire economy that’s going to build around this resort in south Abaco. So this is going to be magnificent. As a Family Islander I understand what it means for there to be economic activity in a local environment. So this is just not a hotel or resort, this is the engine for growth for South Abaco. Its important that we recognize that.”
Prime Minister, the Hon. Philip Davis, the Member of Parliament for South and Central Abaco, the Hon. John Pinder and Development Investor, Skip Briggs were also among those at the signing.
