The Civil Aviation Authority is getting a new home.
Demolition of the old Cayman Airways building began Friday (11 May) making way for the Authority’s new $2.4 million headquarters.
The good news, it will be done at no cost to the Government.
Since its restructuring in 2004 the Civil Aviation Authority has been searching for a new home and Friday it officially began the process of building it demolishing the old Cayman Airways building on Owen Roberts Drive.
“Today (11 May) is really exciting for us.”
CAACI Director General Richard Smith said the purchase of the land and construction of the new headquarters will be fully funded by the Authority, sparing the public purse the expense.
“We had to renegotiate and lease it for $400,000 for 99 year lease. The building that we are embarking on is anticipated to cost a bit more that $2 million. But we have all the funding available for it,” he said.
It’s something Premier Hon. Alden McLaughlin and Deputy Governor Hon. Franz Manderson welcomed.
“That’s an example I wish all authorities would follow. I am happy to say that the (Civil Aviation Authority) set a very good precedent with that,” the Premier said.
“They have done an excellent job of judicious spending of their money and that’s why we are able to build this building without any additional borrowing,” Mr.Manderson said.
Mr. Smith said the two-storey administrative building will be in a prime location for the Authority to execute its mandate.
“We do not want to be the police looking over anybody’s shoulders. But things happen day to day and for the Authority to keep abreast with what is happening this site is very significant,” he said.
Mr. Smith said a July 2019 target date has been set for the formal opening of the new building.
He added that the building is necessary to carry out its regulatory duties, as well as, house its increased staff complement.