According to the terms laid out in the 3rd amendment to the NRA agreement, Government appears behind on its deadline to deliver air parcels legislation.
The agreement, signed last May, states government shall reasonably assist to enact air parcels legislation by the last day of 2016, but premier Alden McLaughlin only announced government’s intent to bring the legislation forward less than two weeks ago.
Another apparent missed deadline from the NRA agreement: public consultation on air parcels legislation should be complete by the end of September 2016. Government indicated a public consultation did take place, but Cayman 27 can find no record of that happening.
Government says though the law pertains specifically to Dart Real Estate projects ongoing in the West Bay Road corridor, the legislation is not written by Dart or just for Dart.
Cayman 27 asked Dart Real Estate if they have any recourse if government doesn’t keep their end of the deal, and how far they are along in their $400 million real estate spending commitment.
“We are pleased to see government table the proposed legislation at the current sitting of the Legislative Assembly and we are continuing to invest in the Cayman Islands,” said Dart Real Estate President Jackie Doak in a written response to our queries.