Talk about being between a rock and a hard place – we don’t
envy either the government’s or Premier McKeeva Bush’s position when it comes
to finding land to relieve overcrowded cemeteries on Grand Cayman.
More than 30 people showed up at the John A. Cumber School
Hall Monday night to hear Mr. Bush explain that a resolution has been found for
the West Bay Cemetery.
But he predicts its going to be costly and the property may
have to be taken by compulsory acquisition.
In addition to putting up the millions it will need to
acquire the land, government is also going to be faced with rezoning the land,
de-mucking and filling the site roughly seven feet because of a high water
table. Basically, the government is looking at buying swamp to extend the
cemetery.
We understand the need for government to acquire land for
certain public purpose like building a road. But we have to question using that
option to get land for a cemetery.
According to the law in the Cayman Islands compulsory
acquisition can be done by government when the land is needed for a public
purpose, but who defines what that public purpose is and whose land is safe
from this type of acquisition? The law reads that once Cabinet declares a piece
of land is needed for a public purpose, that it shall be compelling evidence
that the land is indeed given over to the government. What is the potential
effect of this law on future investment in the Cayman Islands?
We also have to question the figures being tossed around on
this project.
The owner apparently wants $11 million for the land, but Mr.
Bush believes it can be acquired for about $2 million. Unfortunately a
Caymanian bank in 2006 loaned more than $6 million on the property for a
proposed project. It’s rather unusual for banks to loan more money than a
property is worth.
Mr. Bush is right.
This is going to be a costly process, but under the current
law it looks as though the owner could be in for a surprise when the court
finally does come up with a final figure.
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