The Invader's Bay Development project is in abeyance until the ongoing court matter comes to an end, Minister of Planning and Development Camille Robinson-Regis has said.
"It is in abeyance and no decision has been made as yet because we were really waiting on the court matter to come to an end so we can probably now move forward to some extent, but we are just waiting on the Attorney General's advice on how to move forward," Robinson-Regis said.
The Invaders Bay Project is among the list of developments currently listed on the website of the Urban Development Corporation of T&T.
Udecott chairman Noel Garcia said the corporation was awaiting the Cabinet's decision on the way forward for the project.
"We are waiting a directive from the Government on how to proceed. If you recall under the former administration they had entered into or were about to enter into an arrangement with Mr Derek Chin and another proponent and that was hotly contested by the JCC and Mr Afra Raymond leading to a High Court matter.
"This new administration did not advance what the last administration did. In addition, the last administration made a procedural mistake in that those lands are owned by Udecott and you cannot enter into a contract for something you don't own. So what we are really waiting on at Udecott is to get a clear directive from the Cabinet as to how they want Udecott to proceed with this matter. At the moment we are waiting on a direction,"Garcia said.
Garcia said he did not think the present administration has any intention of proceeding with the project as conceptualised by the former administration. "I think this administration, in particular Dr (Keith) Rowley, has been very clear that that project was not done in a transparent manner and as a result he was one of the main advocates against the project so we at Udecott are waiting on a directive from the Cabinet on how to proceed and we have not yet gotten that directive. So the project is in abeyance to put it in a word," Garcia said.
Chin: My name being slandered
Derek Chin said everything was done above board with respect to the proposals for the project.
"My name is being slandered around and I have been in Trinidad and Tobago for 40 years in business and my name has never been involved in any bacchanal. My name has only been involved in good things like MovieTowne and so on, and people need to understand that," Chin said.
Chin said he envisioned a development at Invaders' Bay called the Street of the World that would be the Epcot Centre of the Caribbean.
"I wanted to create pride in our country and our cultures. The idea was to create this Epcot of the Caribbean. It would take Trinidad and Tobago to a totally new dimension and make this country a beautiful destination," Chin said.
Chin said he submitted his proposal for the Streets of the World to the People's Partnership administration.
"I submitted this proposal and the Government of the day loved it and it was the top proposal as compared to others that were submitted," he said.
"What people are misinformed about is that they are thinking the Streets of the World is a government project. It is not. It is a Derek Chin project, my project, my idea, my money."
He said he was willing to invest $500 million.
"People think that I had an inside track that I got this project called Streets of the World and there was no tender. The fact is it is not government money, they asked for a proposal, I gave them a proposal and said I was willing to do the project with my investors but asked if they could make the land available that we can make something like this happen in Trinidad," Chin said.
Chin said he and the Government were in discussion about him being leased ten acres of land at Invaders Bay for $130 million.
The Government used Pricewaterhouse Coopers while Chin said he used Ernst and Young.
"I have not signed anything, no money passed, we were trying to negotiate with the two accounting firms what would be the most economical arrangement," he said.
Since the general election of 2015, Chin said things have stalled with respect to the project.
"Since this thing happened I have not been pushing it because I have been committed to many other projects but I think at the end of the day when you reflect it is really a sorry state that the country is being robbed of something so beautiful and something that will make such a big difference," he said.
Chin said he anticipates the Streets of the World Project could create some 5,000 jobs in this country including tourism and construction.
Chin said he has received a call from Udecott asking if he was still interested in the project.
?AFRA: WE NEED ANSWERS
When Afra Raymond was JCC president he began the legal action against the Ministry of Planning.
Speaking to the Sunday Guardian, Raymond said the public needs to be informed about the proposals for Invaders Bay including "the start of public consultations and the funding model being proposed".
"We need to be clear whether the proposed International Finance Centre, Convention Centre, and Five-Star Luxury Hotel announced by the Minister of Finance in April 2016 is via a Government-to-Government Arrangement. Are there any further proposals for Invaders Bay? How are these to be funded? Are these proposals net foreign exchange earners?"
Raymond also took the JCC to task for its silence on the matter.
"After the JCC silence on Invaders Bay for the last year, I was not surprised at their lack of response to the Appeal Court's majority ruling on October 28, 2016, in favour of their request to have those legal opinions published. Invaders Bay is the single largest development in the country, which was being conducted improperly by the previous administration, so it was previously a matter of high concern to the JCC. Having withdrawn from any public engagement on this matter and consented on November 21, 2016, to the State's application to appeal to the Privy Council, this JCC's call for 'good sense to prevail' is really bemusing," Raymond said.
During his mid-year budget review Finance Minister Colm Imbert indicated that the Government has begun discussions with some foreign investors on a set of integrated projects comprising an expanded international financial centre, a five star hotel and a convention centre, located at Invaders Bay.
Raymond questioned whether public property such as the land at Invaders Bay could be disposed of under the terms of Government-to-Government Agreement without the complete oversight of the Public Procurement and Disposal of Public Property Act which was assented to June 17.