Cabinet  will not entertain exclusivity for Stake Bank Project

Today, 12th January, 2016, Cabinet shed some light on the much talked about Docking facility for the Cruise Ship Industry. Last week when the Media spoke with Michael Feinstein, the main financer for the Stake Bank Cruise Terminal project, had just met with Prime Minister Dean Barrow. He suggested that Government was meeting with two other parties interested in Building a Docking facility for Cruise ships download (40)at the Port of Belize property. Such an option, said Feinstein, would undermine his ability to deliver a Cruise port because he needed Government’s exclusive support. Government says it considered the request at Cabinet meeting today from Michael Feinstein, for a 25 year exclusive contract for the Stake Bank Project but that cabinet will not entertain the request for exclusivity. The Press release cited the 2004 Fort Street Tourist Village (FSTV) exclusive agreement with the then Musa Administration adding that Mr Michael Feinstein himself, after selling the company, later challenged the exclusivity in court and won.  The Court ruled that Any agreement which quote   “…prevented GOB from soliciting, endorsing, assisting, facilitating or permitting the construction or operation of any other tourism village and/or cruise ship terminal in the Belize District apart from FSTV’s operation by the Company was unlawful, unenforceable and incompatible with the proper discharge of GOB’s responsibilities; and are ultra vires the powers of the Executive to make,” Cabinet appears aware that without the exclusivity Mr. Feinstein may have to withdraw the project and added in the release that it is reviewing studies done over the past two decades which identifies the Port of Belize as a viable facility. Quote “The government has recently received expressions of interest to develop the Port of Belize from two companies so far. One is the company that currently controls the receivership, Ports Investment Limited (PIL), and Hertzog International Incorporated. The Government remains open to the idea of reviewing the feasibility of developing the Port of Belize as a viable option.” 

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