Moontown

A section of Caribbean Estate, a 980-unit housing development done by New Era Homes. FIle

Dionne Rose, Business Reporter

Principals of residential property developer New Era Homes 2000, Leo Taddeo and Benedetto ‘Benny’ Persichilli say they are now putting together US$80 million or J$7 billion, possibly with help from the National Housing Trust (NHT), to finance a project to deliver 224 upmarket beachfront apartments at Drax Hall in St Ann.

The venture by the Canadians over the past 10 years had brought to the market noted St Catherine developments such as Angels I, Angels Estate II, Cedar Grove, Cedar Manor and Caribbean Estate.

Persichilli told the Financial Gleaner that the company had already received the requisite building approvals and that construction of the high-end two-bedroom and three-bedroom units on 14 acres of land would start next month. The apartments are to be sold for between US$350,000 and US$400,000 or between J$30.7 million and J$35 million.

The NHT is a possible co-financier of the project. However, the developers have not said how much they will ask the Government-owned housing agency to put up, and the state entity told the Financial Gleaner that the developers have indicated an intention to apply for funding; however, no application had come in up to yesterday. The remainder of the funds is to come from the partners. The NHT has an interim-financed programme through which it lends money to private developers and public-sector agencies to assist in the provision of affordable housing for contributors. The agency normally lends up to 80 per cent of the projectcost at low interest rates.

It was not immediately clear if the scope and purchaser profile of the proposed development would meet the development project lending requirements of the taxpayer-funded NHT.

Even as they press ahead with the new venture, Taddeo and Persichilli confirmed that they were are winding up two companies, which they said have been dormant for years. The companies are New Era Homes Jamaica Limited and New Era Homes Portmore Limited.

Taddeo said the liquidation was necessary as those companies had been partly owned by a third partner, Domenic Bellissimo, who has since died.

Bellissimo was a partner in the companies before going on his own in 1999 to build homes in Santa Cruz, St Elizabeth, and undertake a development at Waterworks in St Andrew.

“When we first to came to Jamaica, there were three partners - myself, Benny and Domenic Bellissimo (and) we had two companies - New Era Homes Jamaica and New Era Homes Portmore,” Taddeo said.

“Benny and I started New Era Homes 2000, so those companies are no longer needed.”

Liquidation notices

Notices of the liquidation of the companies were posted in the press in April. With the liquidation of the two companies the group now has two companies, New Era Homes 2000 and BNL, said to be a manufacturing company started five years ago. BNL operates from offices at Jam World in Portmore.

“It is separate (and) what we want to do in construction is keep them separate from your manufacturing,” he explained.

The company is said to produce blocks, bricks, paving stones, patio slabs, culvert pipes, sanitary manholes, windows and doors, among other construction supplies it provides for New Era 2000 projects as well as other large-scale developments.

“It is 14 acres and we are going to create 224 apartments, underground garage, marble corridors - high-end,” Persichilli said of the project now on the drawing board.

Two swimming pools for adults and one for children, tennis courts, 14 gazebos, children playground, two restaurants, health club, mini mart and a private beach are listed as some of the amenities the complex will boast.

The development will be comprised of 168 two-bedrooms and 56 three-bedrooms. The two-bedrooms will be 1,483 square feet or 138 square metres in size, with the three-bedroom apartments measuring 1,873 square feet or 174 square metres.

Persichilli said the units will be done in seven phases, with the first phase expected to be completed by January or February next year. The development is projected to be completed within 36 months.

Taddeo hopes to go to the market in September. He pointed out, however, that the units would be presold.

“Most of the funding is for the infrastructure and (based on) how the market turns around, if we sell fast, we’ll move faster; but if you sell slow, you go slower.”

Brisk sales, he said, could bring forward the construction time to 24 months.

Taddeo pointed out that a similar approach was used with the two-phased Caribbean Estate, a 980-unit residential development on the north-western border of greater Portmore, running along the northern boundaries of the Daytona and Monza housing schemes.

He said in that development only 18 townhouses were still available for sale at $13 million. (Jamaica Gleaner)

dionne.rose@gleanerjm.com

If Prime Minister Bruce Golding was in any doubt about the lingering anger in his West Kingston constituency, this was dispelled yesterday. He was peppered by hecklers during a tour of Coronation Market, popularly called ‘Curry’.

Still, there was enough to encourage Golding that he could win back the love and respect of his constituents, as many came out to voice their support for him.

Golding has been the butt of many disparaging remarks in West Kingston since last month when the security forces ploughed through barriers in Tivoli Gardens to battle gunmen, leaving 73 civilians dead and several properties damaged during days of firefights.

On his first trip into the area after the bloody clashes, Golding’s security detail barred the media from coverage.

Yesterday, journalists were out in their numbers as Golding returned to West Kingston. This time, he travelled to Coronation Market and not into the brain of the constituency, Tivoli Gardens.

“Mi nuh wah si Bruce! Them kill mi son!” declared a woman as she wailed despite efforts to console her by Desmond McKenzie, councillor for the area and mayor of Kingston.

“Bruce fi gwaan. Him abandon the people of West Kingston,” declared one man as he was supported by others with unpublishable comments.

But the prime minister was stoic throughout and even engaged individuals who faced him with their concerns.

His message to them was clear: The Government is prepared to provide immediate assistance to those who suffered losses.

“A number of the vendors were complaining that they lost their goods because of the fire and all the dislocation. We haven’t started delivering assistance, yet we hope to do that starting next week … , so some of them were obviously distraught,” Golding later told journalists.

Some in the crowd remained fervent in their devotion to Golding

“No PNP (People’s National Party) can’t get West Kingston and wi nah switch from Bruce. A Bruce wi seh,” shouted a woman.

“A jus’ through anger mek some people seh some t’ings, but wi get over it and a still Bruce wi a seh an’ that straight,” bellowed another woman. (Jamaica Gleaner)

arthur.hall@gleanerjm.com

Air Jamaica plane on the tarmac of the Norman Manley International Airport in Kingston, in this November 2004 photo. - File

Arthur Hall, Senior Staff Reporter

Local officials appeared stunned by news out of Port-of-Spain yesterday that the new Trinidad government, led by Kamla Persad-Bissessar, could be having second thoughts about the takeover of Air Jamaica by the state-owned Caribbean Airlines Limited (CAL).

Efforts to get a comment from Finance Minister Audley Shaw were unsuccessful while other government officials remained mum.

Instead, they pointed The Gleaner to Dennis Lalor, who led the Air Jamaica divestment committee and was the point man in the negotiations.

But an obviously surprised Lalor told The Gleaner that he had not heard the news, which came yesterday afternoon out of one of the first post-Cabinet media briefings hosted by the Persad-Bissessar administration which was elected less than three weeks ago.

Lalor said he would not expect any change in the position of the Trinidad government because its objectives have been largely met since CAL acquired Air Jamaica.

Under the agreement finalised on April 28, the government of Trinidad and Tobago was slated to contribute working capital to facilitate the merger while the Jamaican Government assumed the debt and covered the multibillion-dollar winding-up costs.

But the Jamaican Government has received grants of US$820,000 (J$70 million) in 2008 to help with the early stages of the divestment and US$221,000 (J$19.12 million) yesterday from the United States Trade and Development Agency to assist with finalising the deal.

The Jamaican Government acquired a 16 per cent stake in CAL as part of the condition for the airline taking over the lucrative routes of the cash-strapped airline.

Approximately 900 Air Jamaica employees were retained by CAL to manage the eight routes operated by the Kingston-based carrier.

However, Trinidad’s new Finance Minister Winston Dookeran yesterday told journalists in Port-of-Spain that his government was concerned about the operations of CAL and its recent agreement with Air Jamaica.

Dookeran, T&T’s former central bank governor, told reporters that the Ministry of Finance would be called upon to take a position on the “many financial challenges ahead of us in that particular arrangement”.

According to Dookeran: “To that end, I have also advised the Cabinet of the appointment of an appraisal committee headed by Mr Conrad Aleong (former airline executive) … to do an immediate appraisal … and the directions that we must set as we tackle that problem.”

Dookeran’s Congress of the People and Persad-Bissessar’s United National Congress, while in Opposition, had voiced concern about the CAL deal which was signed by the Patrick Manning-led People’s National Movement (PNM).

The PNM was defeated by a combination of parties (People’s Partnership Coalition) in the May 24 general election. (Jamaica Gleaner)

arthur.hall@gleanerjm.com

Marcia Reid bawls after her 14-year-old son committed suicide near his home in Flankers, Montego Bay, on Thursday. - Photo by Noel Thompson

Noel Thompson, Gleaner Writer

WESTERN BUREAU:

A weeping mother has vowed to serve God and never to travel abroad for economic reasons after her son committed suicide yesterday.

Marcia Reid of Flankers, Montego Bay, cried uncontrollably after her 14-year-old son, Norris Smith, hanged himself on an ackee tree just chains from their house.

The suicide was allegedly in protest of his mother’s plan to work in the United States.

Reid, a single mother of five, told The Gleaner that she had been working as a security guard on the night shift for 11 years and had become tired of struggling to make ends meet.

“Mi sit and talk with the three children now living with mi and explained the situation to them. Mi tell them mi was leaving for the US to work so life could be better for all of us.

“I told them I was going to leave them with someone, but would leave Norris with his father,” a distraught Reid said.

She added: “Mi never know dem mean it when dem say if mi leave dem, they would kill themselves.”

Ran off upset

The mother said she had worked Wednesday night but went to the hospital Thursday morning, as she was feeling ill. On her return home, she reminded Norris he would have to stay with his father as she was planning to leave sometime next week.

“Him just run off and the next time mi see him was when him hang himself. Oh God! Mi nuh deserve this. You want mi fi serve You and mi a go repent. Mi coming to You, God,” she lamented.

Meanwhile, psychologist Dr Beverley Scott has urged parents to take suicidal threats seriously while simultaneously urging teenagers to confide in someone about their problems.

“Teenage years are very difficult years and they need to be mentored properly,” she said. (Jamaica Gleaner)

noel.thompson@gleanerjm.com

Roger Seepersad

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After 44 overs SA are 100/4 (Kallis 26, De Villiers 0)

An interesting battle going on here now as South Africa look to consolidate after losing four wickets.

After 34 overs SA are 93/4 (Kallis 19, De Villiers 0)

Overnight batsman Harris was the wicket to fall hitting one in the air off Benn and Shillingford taking a simple catch.

Hello and welcome to the second day’s play of the first Digicel Test match at Queen’s Park Oval, Port of Spain.

I am Roger Seepersad and I will be bringing you all the action for the morning session.

We have some good weather here at the Oval and there are some fans already here waiting for the match to resume.

Just a recap then. South Africa closed Day 1 on 70 for three, Jacques Kallis and Paul Harris is at the crease and Sulieman Benn 1/28) and Shane Shillingford (2/20) were the wicket takers. (Trinidad Express)

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Spectators wave South Africa flags before the opening concert for the soccer World Cup at Orlando Stadium in Soweto.()

WORLD CUP FEVER. The motherland is expected to host the mother of all World Cups.

And today, from Europe to Africa, from Asia to South America, the sport of football will rule supreme for the next 30 days as the 2010 World Cup kicks off in South Africa.

It’s the first time the planet’s most popular sporting championship will be played on the African continent, and in vibrant cities like Cape Town and Johannesburg, World Cup vibe hit fever pitch yesterday on the eve of today’s opening ceremony and matches.

The match-ups are palpitating, starting with today’s first two involving the hosts versus Mexico, followed by former champs France and South American enigma Uruguay.

But it’s expected to really heat up tomorrow, when one of many pre-tournament favourites, England, clash with the upstart United States in one of the most anticipated first-round matches in the tournament’s long history. (Nation News)

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Hilary Clinton (right)with McClean (left) and United States Charge d’Affaires Dr Brent Hardt at George Washington House()

Secretary of State Hillary Clinton had wide-ranging discussions with members of the Barbados Cabinet at the historically important George Washington House yesterday.

Acting Prime Minister Freundel Stuart headed the delegation that included Minister of Foreign Affairs Maxine McClean.

Sports, education, opportunities for the poor, help for small business and health and wellness tourism were among the issues raised at the meeting.

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Sir Louis Straker (left) of St Vincent and Baldwin Spencer of Antigua and Barbuda.()

By: Trevor Yearwood

BARBADOS will benefit from a wide-ranging, Caribbean aid package of some US$300 million, United States Secretary of State Hillary Clinton announced in the island yesterday.

The package comprises $US45 million committed to the State Department for the Caribbean Basin Security Initiative (CBSI) in 2010 and the Obama administration’s request for US$79 million in the 2011 financial year.

Clinton also announced the administration’s commitment to provide US$162 million for Caribbean HIV/AIDS programmes and US$8 million to fund regional climate change and energy projects.

Clinton made the disclosures during a Press conference at Hilton Barbados after a meeting with Caribbean foreign affairs ministers, including some prime ministers and deputy prime ministers.

Clinton, on the last leg of a tour that has taken in Peru, Ecuador and Colombia, declared that after what some people saw as a period of the United States distancing itself from the Caribbean: “We are back - we are back 100 per cent.”

She reported “extraordinary progress” in the talks with Caribbean leaders that ranged from illegal drugs, the situation in earthquake-devastated Haiti, climate change and US-Caribbean trade to energy security and the impact of the global economic and financial crisis.

But she admitted that both sides “have a lot of work to do”, given the region’s many challenges.

Speaking about the CBSI, Clinton said, “We’re working to curtail the flow of guns and illicit funds to the region and to reduce demands for drugs.”

She reported that the thorny issue of the US government deporting criminals to the Caribbean had now become part of the CBSI process and both sides were having a close look at it.

Barbados and other Caribbean governments have repeatedly complained about the trend of the United States deporting criminals who were born in the Caribbean, but left the region at a tender age and have few or no relatives in the regional countries.

Clinton also touched on another controversial issue - new Arizona legislation aimed at combating illegal immigration.

Obama has criticised the laws and Clinton told reporters in Barbados yesterday that the administration was committed to “comprehensive immigration reform”. (TY) (Nation News)

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US secretary of State HIlary Clinton chatting with members of the Barbados Cabinet.()

By: Gibbons Wade

BARBADOS has been encouraged to tell the story of the excellent infrastructure of its financial services to the world.

Minister of Foreign Affairs Maxine McClean made the remarks at a media briefing, following her participation in the CARICOM heads’ talks with United States Secretary of State Hillary Clinton
at Hilton Barbados, yesterday.

She said Barbados’ financial services sector had come under significant scrutiny following the fallout of the recent economic and financial crisis internationally.

The minister stressed this point during the talks and demonstrated that because of that exercise the country had been shown to be an exemplar in the sector.

McClean noted players in the industry operated under a very stringent regulatory framework and tended to demonstrate best practices. She said Barbados’ delegation asked that there be continued support for the country and it was acknowledged that Barbados had been doing a good job.

“It has been recommended to us that we should tell that story more,” she said, adding they had sought the assistance of Clinton as a lobbyist for Barbados’ position.

McClean stated one of the issues that came up was a suggestion that CARICOM should seek to attend G20 meetings as an observer, a stance which she explained could have significant benefits for Barbados.

She noted the principal issues which engaged their attention during the bi-lateral talks were security; health, with special focus on HIV/AIDS; social inclusion; the energy partnership and the green economy; and economic cooperation, trade and financial services.

McClean indicated that certain models looking at the alleviation of poverty were also examined, including some operational in Chile.

She said this involved looking specifically at issues affecting each household, since in some cases poverty had been shown to be inter-generational.

Among those on the Barbados delegation were acting Prime Minister Freundel Stuart, Minister of Social Care Chris Sinckler, Minister of Health Donville Inniss and Minister of Family, Youth and Sport Stephen Lashley. (WG) (Nation News)

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By: GODFREY ISAACS

WITH ALL the intelligence and common-sense, we claim to have in this civilise era we are still in slavery, using brute force and ignorance. The administrations across our region and beyond haven’t move forward at all.

We cannot remember not to forget positivity, when President Barrack Obama ordered interrogation to stop, even on terrorists.

The now Jamaica situation shows us clearly how backwards our leaders are.

The administration and public officers are call to be bureaucratically skilful in managing the affairs of their people professionally.

What should have been a non-military operation, turns out to be a disaster. The Jamaica situation, shows us clearly how blurred is the visions of our regional leaders.

I do pray that our region’s technocrats can come together with a purposeful plan swiftly to help our armed forces and leaders in governance, to be able to think critically and not to act before they think.

Our region’s leaders and security forces need to be educated professionally. This region claims to be educated; show the world what is education. A sound education of the people, is a nation’s future. (Nation News)