Approximately 400,000 households in T&T, expected to begin paying property taxes this year, will raise around $500 million in revenue for the Government.
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Plans for T&T Olympic Games Park shelved
Plans for T&T’s first ever Olympic Park during the Rio Summer Olympic Games has been shelved due to the economic downturn. The plan was announced on August 5 last year at a media conference held at Olympic House to mark one year left to the start of the 2016 Olympic Games in Rio de Janeiro, Brazil.
President of the T&T Olympic Committee (TTOC) Brian Lewis revealed the idea to transform the Lord Harris Square in Port-of-Spain and the surrounding area into an Olympic neighbourhood and the first ever, Trinbagonian style Olympic Park.
“It would have been great to progress the idea and concept but the economic reality requires difficult but necessary decisions.”
Lewis added: “In the overall assessment of the situation as much as the first Olympic Park is a nice idea, the economic circumstances in the country requires the TTOC to be prudent and strategically focus its resources and attention.”
This is an important year for the TTOC, as the committee will celebrate its 70th anniversary after opening its doors in 1946. Also, the TTOC will acknowledge and celebrate the 40th anniversary of Hasely Crawford’s acheivement, who won T&T’s first Olympic gold medal in 1976.
The TTOC will also ensure that the athletes are well prepared for the Rio Games. The athletes will receive a Rio 2016 Games Commemorative Magazine and the TTOC will host a pre Games training camp.