$5m taken from EPF to buy Smith Cove
(CNS): With a deal between the government and the owners of the land by Smith Cove agreed and the process to acquire the land for public use underway, both sides of the Legislative Assembly supported a government motion Monday to take $5 million from the Environmental Protection Fund. Premier Alden McLaughlin told the parliament that the money would more than cover the sale and the upgrades that government now plans to enlarge the area and create a public beach park. The owner has agreed to sell the land at cost plus expenses incurred for the now abandoned development plan.
Last month the community learned that the land next to the popular and much-loved waterfront spot was being developed and that part of the area would become part of a luxury condo complex. But there was an immediate public outcry and a popular movement quickly grew to put pressure on government to stop the project and save the area, also known as Smith Barcadere, not just because of its natural beauty but also because of its heritage and history.
Speaking to his colleagues when he began the process for government to acquire the land, the premier gave credit to Planning Minister Kurt Tibbetts for negotiating with the owners to sell. McLaughlin said that the landowner had been very cooperative about the situation and the public purse was getting value for money.
He said government now had 60 days to complete the purchase, and once in public hands, the land would be marked as a conservation area. He said the actual purchase price would be revealed as soon as the deal was completed but there would be land valuations undertaken before it was agreed.
Despite the hefty price tag, there is significant community support for government buying the property becauseĀ public access to beach and waterfront areas has been dramatically curtailed by the continued and relentless oceanfront development along Seven Mile Beach and South Sound.
The idea that Smith Cove was going under the digger was too much for many and the reaction to news of its sale was clear and immediate.
Organisers of the campaign to save the area are holding a celebration at the cove this Saturday and a beach clean-up from 3:30pm.
For more details visit the Saved the Cove Facebook page.
Category: Government Finance, Politics
I suggest that the Government also buy the old Pageant Beach Hotel site and turn it into a beautiful park which both residents and visitors alike can share. It’s right on the edge of town and easily accessible. We can do with less condo developments preventing access to or blocking the beach views that remain. Remember Clemens carefully chose the buyers of the Wharf Restaurant as he did not want it knocked down and replaced by condos.
And while we on the topic of beach access, the appropriate ministry should have the Parks & Recreation Unit clear the pathways, reinstate/re-install all visible signs along the Seven Mile Beach corridor that give us the gazetted public right of ways to the beach.
To late, the owners of TI brought it and are planning a Hardrock hotel there.
Shhhh it’s a secret!!
Clemens carefully chose buyers that would pay his asking price….
Great! Now let us recover these costs by deporting every non-Caymanian prisoner in Northward (remember – that would save KY$3 million per year!!!)
But I am sure PPM would rather raise import duties or something instead.
And I am guessing this is KYD and not USD 5 million? Which means that Gov is spending over US$6 million for the property. Hopefully it is USD
Developers paid US$4.25 (approx. KY$3.49 million). Nice! Congratulations TFG Cayman Ltd; a most brilliant investment for sure, quick and easy ROI.
You forget transfer tax, finance charges planning fees engineering and architect costs marketing developers overheads etc etc .
Not a moneymaker for the developers.
The developers deserved to lose this one by putting a realtor on TV!!
& legal fees!!!
1.10 In addition the five million includes improvements to the land by Government ,after the transfer.
Yep, I know – in fact I thought it would have taken US$6.5 to buy it because of all the money the developers have put forward already on it.
However; by any account, securing a buyer and selling a parcel for $5 million+ in a matter of weeks must be applauded (especially since it was not even on the market!) Yeah! I’m pretty happy for them.
Smith Cove was already a protected park. Captain CPA acquired the impenetrable jungle to the north of the park for $5mln of our EPF money and untold other arrangements. Only a pigeon-brained moron would conflate the two, or pretend that the land to the south was ever in jeopardy. Classic Cayman pre-election bait and switch.
And the developers are laughing all the way to the bank. I’m not for one second questioning public ownership of the site but the way this was handled stinks. It was all way too quick, way too convenient and way too carefully stage-managed. Maybe the OAG should check it out because it looks like a bit of backdoor dealing took place to me.
Hello my friends hello! What a glorious way to provide an impetus prior fund to an election. The games have begun. By the way who were the previous owners?
im glad the GOV purchased smith cove. BUT WHY does the CIG wait until the pot boils over before they take it off the stove? It seems to be a typical CIG move, to deal with issues, once they become an issue (prevention is better than cure .. cheaper too). IMAGINE if the Caymanians and the Expats that loved the location never spoke up? What would ALDEN do then? It would just have been SOLD!! COME ON!!! We elect Mckeeva / Alden or whoever we elect to be on top of these things! STOP SELLING CAYMAN for your pocket!! You are destroying our Heritage. Glad to see Smith Cove saved. Too bad we will never ever have a chance to save SMB. SMB looks like Las Vegas on the beach … So much like an island huh? (feels like the USA to me) The last little bit of SMB that was worth calling a beach is now going to be known as the KIMPTON, sorry for my Kids. Cayman has gone to hell … Thank You Alden and Thank You Mckeeva … cause both of you are pointless … screw voting for you all.
Simple – It’s election time
Shaddap mac.
im glad the GOV purchased smith cove. Glad to see Smith Cove saved. Not so happy that mckeewa chose to go gambling with our money instead.
2.16pm You say that Alden and his PPM Admin listened to the people and bought the property . Isee that as a responsible and caring Government. You seem upset about this . Perhaps you prefer your politician to disregard your wishes and those of the public.
well scrue you too bo bo.
well then, seems as if the GOV just got ripped. Considering they posted the amount the amount they had in the Environment Fund. Which was 6 Million. Someone thought it was wise to share that information??? Wondering why the “smith cove” owner decided to sell for 5 Million .. oh wait, he knew how much the GOV had to play with (at least he left them with a million) … Well done! Environment fund has gone to $#!+….
Actually, the Environment fund has gone to $mith’s Cove. Well done Alden….
The $6m was public information since it was in the budget. You would prefer CIG didn’t give give transparency on what they do with tax payers funds?
@2.00pm Read the article again. Alden is quoted as saying that the five million dollars should ‘ more than cover the sale and the upgrades that government now plans to enlarge the area and create a public beach park’. In other words five million should cover the cost of buying the property, develop it into a beach park, and still leave some funds.Please note that it does not state in the article that the owner agreed to sell for five million. Read the article again.
Actually, the balance in the fund was recently reported to be $46 million.
2:00pm, the Fund is actually around $40M and has been for years. Although its an Environmental Fund for the benefit of our Islands, to date I believe the only withdraws have been for various churches and now the “staged” purchase of Smiths Cove. During the Elections I imagine Alden et al will spin this off as a purchase from the government surplus that his team brought in during their tenure. It also makes me think because this deal / issue was so staged and dealt with so quickly that the developer in question has something else lined up that will cause as much controversy but he will be allowed to proceed because of his kindness in selling Smith Coves back to us.
Withdrawals from the Environment Fund for Churches? Say wah?
Don’t take him too seriously. SSM345 often adds a bit of fiction to his comments to give them a bit of umph.
LOL: Where do you think Mac got the money to hand out millions to all the churches? From this very same Fund Govt. used to purchase Smith Cove, which is why there was a huge uproar when we all found out and demanded that the churches give the money back, some did, others did not. You might have missed that story, it was only in the news for about 6wks.
Wrong! It was the “Nationa Building Fund” that Mac had set up.
Finally a swift decision from ppm. On top of it, a good decision for all residents of Cayman Islands who can enjoy this beautiful spot for generations to come. Plenty of other spots for condos.
I was expecting the usual consulting contract.
Barkers next
This is what good government is all about. The people speak. The Government listens and acts. Everybody is happy. š
Ok now let the people who spoke clean up the spray painted graffiti on the road, when they gather to “celebrate”,
Yes, Please join us Sunday morning 6:00am for the clean up.
We will.
Now if people really want to respect Smith Cove, can they stop being lazy and illegally parking on the double yellow lines on the side of the road, and instead use the fully paved parking lot across the street? So annoying.
Police should hand out tickets!!!!!!!! completely agree causing accidents because they have to walk an extra twenty steps
isn’t this the case all over the island HAVE YOU BEEN TO FOSTERS AT COUNTRYSIDE!!!!?!?!?!?
Yes, 12:02, and I especially like the blue Hyundai with tinted windows ALWAYS parked at the no parking area by Foster’s. It’s owned by an ignorant Bodden Town woman who has been on Social Services hand-outs for 35 years or more. Don’t dare to speak to her about not parking there.
My favorites are the people who block traffic both ways by parking outside the pharmacy at Hurleys…no shame even when they see a line of traffic caused by them,
Yes. No problem.
No 10:39, I’m a born Caymanian and I will park where I like, including where there are double yellow lines and also by the no parking areas outside Foster’s in Countryside. These laws and regulations don’t apply to us so I don’t want to see no foreign police come and try to write me up about it or I will cuss him out.
Anonymous @ 10.39
What an ignorant ass you are. If you had any respect for your citizenship you would obey the rules and Laws of the country instead of deliberately disobeying them. they are there for a good reason.
no wonder Cayman is going to hell in a handbasket with people like you
bragging that you are dis-obedient to the simplest of civil laws.
And yes, I am a Caymanian and trace my ancestors to the first settlors!!
Come on 10.13pm dont fall for that old trick. The poster at 2.08pm is pretending to be Caymanian.They call it sarcasm. He/she is mocking Caymanians.Ok.
Let’s not forget the cars parked on double yellow lines by Camana Bay!
Unless it’s changed, the roadway is not Gazetted as a Legal Vehicle Passage/Roadway. It may well have been Gazetted, but I don’t believe that’s the case.
In addition, the Yellow Double Lined area is also an ‘off ramp’ for vehicles that may have issues or ones that may need to pull over for whatever reason. Hardly an issue as there’s enough space for moving traffic and those that park at those marked places.
A lot of us head there with very small children. I for one will continue to park on the beach side until 1) a crosswalk is put in place and 2) people SLOW DOWN on this island.
A crosswalk is definitely needed at this spot!
A crosswalk will not be necessary once a parking lot is developed on part of the newly acquired property.
Given the amount of traffic on that road even with very small children its easy to wait for a break before crossing. Unless you’re impatient and entitled.
bizarre….the developer had committed to not encroaching on any current usage of smith cove and its jumping rocks……
lose-lose for everybody…..and sets a terrible precedent for planning development…..
The result of Misinformed mob rule.
And if you believe that there would have been no ‘encroachment’, I have a beach to sell you.
While I don’t recall the recently publish fund balance of the Environmental Protection Fund, I seems to me that as long as the issue has been brought up, we should look to other areas of land along the sea that could be purchased for public use.
Now that we have successfully paved over nearly every inch of land fronting Seven Mile Beach, it is time to consider what is next for land development in Cayman. This is especially critical for the magnificent lands along Seaview Road in Boddentown and East End.
Smallish passive parks could be established with limited parking assuring limited crowds, but just enough for a relaxing daytime respite from the matters of the day. Perhaps one or two developed public beaches could provide a cooling break from the heat for families. Nothing massive with hoards of tourists, dozens of vendors or the like — just well designed and maintained spaces for safe recreation for our families to enjoy the day.
The land is there, the money is there, and with a plan and an example or two perhaps the public at large would be willing to invest a few more dollars to preserve some of this seafront for the public at-large.
I have to respectively disagree, not with your goal, but with your method. Cayman needs more beach access, i.e., public beaches. Cayman needs an infrastructure fund to pay for those sorts of public amenities. This would leave the environmental fund to do its job, protecting the environment, i.e., saving nature for nature’s sake not because we want to turn it in to a picnic area.
I’m not disagreeing with Govt. decision. We are all (nationally) reaping years of not planning ahead. And they’ve been good about scrimping and saving for upcoming loan repayments so raiding this Fund once we can let slide. I am just asking that if Government is going to now get serious about more public beaches (and other similar amenities) then Government put aside the separate fund to pay for them. Look at the biological value and cash cost of beach land compared to undeveloped forest and wet land with no road access and ask yourself which is the better conservation buy. Beaches for people, environmental fund for nature (which benefits people but not in the same way a public beach does).
What’s happening with the iguana cull? Has that purchase just wiped out the iguana budget?
Perhaps now the government can talk with those bozos at planning dept. and tell them to get rid of that bird cage perched on the iron shore accross from the Waterfront building ( the old Nirberg Thompson bakery). We do not want you to rest on your laurels!!