Government approval is hereby granted to MID
GRANT MID
Act of Parliament
HOA/ Act of Parliament grant MID and its Development Partners wide permissions to excavate, dredge, construct wharfs/ docks as well as build hotels, subdivision developments, home sites, marinas, etc. on the Island of Mayaguana
RE-ESTABLISH
Tidal Connections
Re-establish Tidal Connections: right to execute works to re-establish tidal connections between the Ocean and Flamingo Pond(i.e., Flamingo Island - Island within an Island).
BUNGALOWS
Overwater
Sole Rights for Overwater Bungalows: exclusive right to establish overwater bungalows – not available elsewhere in the Bahamas – a highly lucrative and much sought-after feature in luxury resorts.
Government approval is hereby granted to MID and any Development Partners as follows:
01.
To construct, maintain and operate a deep water channel and turning basin in the waters of the sea immediately adjoining the areas adjacent to Abraham's Bay, Pirates Well Creek. Flamingo Pond, Wreck Bay, White Hill Bay, Long Bay, Southeast Point, Russells Bay and elsewhere in the Development Area.
02.
To construct maintain and operate wharves and marinas in the areas of Abraham's Bay, Russells Bay and/or any other properties within the Development Area including the construction of wharves so as to be able to accommodate cargo vessels as approved by the relevant Government agencies.
03.
To construct and maintain roads, bridges and recreational parks.
04.
To establish and construct factories, warehouses, industrial and other undertakings as approved by the relevant Government agencies.
05.
To establish, construct and operate tourist resorts and related facilities, marinas and industrial buildings, construct and maintain residential sites and buildings, condominiums, timeshare projects and residential clubs and any other buildings or facilities contemplated by this Amended and Restated HOA
06.
To construct maintain and operate wharves and marinas in the areas of Abraham's Bay, Russells Bay and/or any other properties within the Development Area including the construction of wharves so as to be able to accommodate cargo vessels as approved by the relevant Government agencies
07.
To sell land in the Development Area to non-Bahamian purchasers and to penn.it such sales to include mortgage financing for the said purchase and/or improvements thereon.
08.
For all necessary foreign exchange control approvals required by law in connection with the Development and investment therein.
09.
For the home sites and other lots laid out in the Development Area under the provisions of the Mayaguana Legislation and, where applicable, the Private Roads and Subdivisions (Out Islands) Act or any successor or similar legislation, or otherwise.
10.
To construct the Airport Terminal and other airport areas and complete the runway as set forth herein.
11.
For dredging and landfill operations required by law in connection with the Development both within the Development Area and for purposes of marinas as set forth in the Master Plan and herein.
12.
For the construction and installation of any moorings, docks or jetties.
13.
For the grant of all necessary/requisite work permits for essential non-Bahamian personnel on the basis hereinbefore mentioned
14.
For the grant of licence/s to operate hotels under the Hotels Act, Business Licence Act {and any other successor or similar legislation) and grant of marina/dock licences (including fueling station licences), and all such other approvals, permits, agreements, licenes and concessions as may be required by law for the purposes of the Development.
15.
To construct docks and jetties in the areas of Abraham's Bay, Pirates' Well, Flamingo Pond, Wreck Bay, White Hill Bay, Long Bay, Horse Pond, Russells Bay and other shorelines within the Development Area.
16.
To extract, dredge and mine sand, rock and limestone on Mayaguana.