A report from the 2018 deliberations of the Standing Finance Committee has said a grant of more than $200,000 has, or is being dumped into the state-owned Prospect Reef Resort.
According to the report, the $261,000 grant is being channelled through the Office of the Premier.
Finance and Planning Officer in the Premier’s Office, Jamal Jones said the funds are being used to pay severance to employees and to settle outstanding bills management at the government-owned resort had incurred.
Jones made the disclosure during a recent appearance before the Standing Finance Committee.
Multimillion re-development project to still happen
This report follows Premier Dr D Orlando Smith’s announcement that ICA (BVI) Group Corporation still plans on funding the redevelopment of the run-down and now hurricane-ravaged resort.
During a media conference back in February, Dr Smith said his government was “having discussions with them (ICA) to finalise the agreement”.
The company had signed an estimated $90 million redevelopment deal with government back in July 2017.
A government media release had said the components of the redevelopment include the construction of 150 rooms, condos/townhouses, a marina, conference centre, and parking lots.
There will also be a dolphin attraction, infinity pool, saltwater pool, and villas, the release said.
The project is promising employment in the hundreds — a prospect largely welcomed now more than ever since the territory is operating with a hurricane-battered economy.
Copyright 2021 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.