And the final major tourism project that's on deck is the Stake Bank Development off Belize City. It's a major development which would see as many as four cruise ships pull up at an Island berthing facility just off Belize City. That would be connected to the city with a causeway. It's been approved by parliament, but the project hasn't gotten the full green light yet. It's still being held on yellow because it could expose the government to liability by taking the business away from the Fort Street Tourism Village. Hulse says they'll be meeting to discuss it tomorrow:..
Hon. Godwin Hulse, Chair - Cabinet Investment Sbcmte
"The meeting tomorrow at 10am with the committee to discuss all of them including Stake Bank. The Stake Bank issue s very simple though, Mr. Feinstein project is a good one and should move ahead but there is an agreement government signed with FSTV which included to a certain extent the Stake Bank project which government is saying to please ask FSTV to indemnify the government against any claims etc., because as you know they make money. The tenders docked there, there is the fee."
Jules Vasquez
"They were given exclusive license."
Hon. Godwin Hulse
"Right, so Mr. Feinstein's attorney Mr. Marshalleck is saying that agreement really doesn't fully stand because it was principally developed around the Carnival project which flopped. But not withstanding that, it is an agreement with government and government doesn't want to be entangled in any legal battled back and forth, so we are trying to work that out with Mr. Feinstein."
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