Canaan/Bon Accord property owners affected by Government’s planned expansion of the ANR Robinson International Airport and associated works will receive cash for their properties, following which they will be able to buy land from the THA at a reduced cost to build their new homes.
So revealed head of the Airport Relocation Committee and former Tobago House of Assembly (THA) chief administrator Allan Richards.
Addressing the affected residents during the second National Infrastructure Development Company (Nidco) stakeholder consultation at Rovanel’s Conference Centre in Bon Accord on Monday, Richards said land had been allocated at Shirvan, Cove and Courland.
“What was proposed included preparing lands in the Shirvan Road Mt Pleasant area, in the Cove area. Shirvan was primarily for residents, Cove primarily for commercial and Courland for agricultural purposes.
“It was also agreed that these lots will be offered to the affected residents at substantially, substantially reduced rates,” he said adding that the land offered would be leasehold and buyers would be given a 199-year lease, while residents can choose to acquire land on the free market.
Engineer at the THA Division of Infrastructure, Quarries and the Environment Abdullah Chadband, who is also a member of the Airport Relocation Committee, outlined the specifics of the land.
“The Shirvan development is currently valued at $110 per square foot," he said, but the THA would offer it for between $20 or $30 per square foot. The Cove commercial development is valued at $125 per square foot: "Again, this would be subsidised by the THA down to $45 per square foot.
"If you work out the math, these things are down to nearly 30 per cent the original costs," he said.
The title documents for each of these plots would be completed within three months and documents such as letters of comfort, letters of authorisation and the legal licences would be processed.
He said the authorities had already submitted the application for a Certificate of Environmental Clearance to the Environmental Management Agency (EMA) and it was under deliberation, as well as the designs for subdivision of the lands to the Town and Country Planning Division.