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Letter To The Editor: Protecting Generational Wealth!

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#TurksandCaicos, September 9, 2021 – Despite the significant impact caused by the current COVID-19 pandemic, real estate reports show the market in TCI is at an all-time high, and continues to make remarkable gains.

With that being said, this should give us pause for thought; why in a global economic downturn, does TCI real estate continue to be such a hot commodity?

Could it be because we have such relaxed tax regulations, or is it a consortium of foreign investors with large sums of cash who are seeing this as a lucrative opportunity to acquire prime real estate?

In some cases, these properties are used to build lavish homes which are later utilized as short term vacation rentals, or better yet, just left for their next generation.

With this being a real possibility, are we forward thinking enough to undertake sharply focused policies to revise the existing laws and regulations in order to maximize revenue in this area?

We realize drafting legislation to enact policy changes is not an easy task, but the window of opportunity in this arena may be limited.

While the market is red hot and TCI is still listed as one of the top destination choices, the time to capitalize on the opportunity is now. At this given time, do we really need to relax the laws even more and give investors bigger tax breaks?

Albeit, over the years foreign investors have played an extremely important role in the growth and development of our country and we should be appreciative of that.

Nevertheless, we are at a stage in our development where it’s imperative that we take a closer look at the true overall impact it’s having on the betterment of both the country and communities at large.

When is enough, enough when it comes to selling off government land and generational properties to foreign investors? What our country needs is a more diverse portfolio other then selling off real estate.

Let’s face it, there are alternative foreign investment opportunities that could and should be explored. Areas such as light manufacturing or production like recycling on a larger scale, co-op sustainable fishing partnerships, restoration of our conch farm, call-centers, etc.

Generational property is the primary way for our millennials to build and accumulate wealth over time. So why continue to sell it off for pennies on the dollar without looking at the big picture?

With the changes in demographics and the high number of unskilled laborers in our country, these other types of investment opportunities could offer more employment prospects and social benefits. This will also help to raise the standard of living and allow us to become less reliant on low paying service jobs.

The underlying concern is, with the native population continuing to decline, Baby Boomers are pretty much the only ones remaining with generational properties.

Unlike many wealthy families in other developed countries, most of them will not inherit trust funds.

Therefore, we must preserve our only real asset which is generational land, and educate our children on the true value of our forefathers inheritance.

The reality is, most Turks Islanders are not in a financial position to hang onto undeveloped properties as long as they would like too, especially if they are cash strapped. They are then left in a precarious position when attractive offers are presented to them by realtors.

There is also a rising cost and huge demand for housing, especially in the high tourist areas that are the epicenter of jobs and businesses.

To help mitigate this, in my opinion, what is needed are more government affordable land and housing for the locals with the option to buy.

In addition, without having adequate banking systems in place to offer low cost property loans with affordable mortgage payments, it creates a disadvantage and more opportunities for foreign investors.

As places like Providenciales become over populated or have a shortage of inventory, the migration will move to South, North and eventually to Middle Caicos, creating a higher supply and demand market.

In the very near future, the business landscape as we know it in these Caicos islands will continue to evolve exponentially. Deserted land being sold right now, might not be what locals consider prime real estate, but it will be.

It is my belief, rising property value in these areas will be largely driven because of the recent proposed developments such as, a newly constructed marina, a welcome center and a reopening of the airport in North Caicos.

Over time, properties that were quite cheap to buy, suddenly becomes costly and the resale value will double or triple.  Once again, leaving the locals with limited options and very little transfer of wealth.

In essence, the real estate boom may not be a win, win for all in the long run. So the question remains, are we making sound real estate decisions in the best interest of the next generation?

 

Ed Forbes

POETRY :

Summer In Turks And Caicos Islands.

Summer by the sea and

It’s so beautiful to stop

And see watching the

Children smiling so bright

Having fun in the warm

Summer sunlight feeling the warmth

On my face and Turks And Caicos Islands is just

A beautiful sunny warm place and the

Taste the sweetest fruits and I’m

Watching the butterflies flow

Oh how I love the summer days

Smiling so bright kissing my beautiful wife

And all of the songs we sung where so

Beautiful and bright in the warm

Summer sunlight and it’s truly

Beautiful to see the little birds singing

To me it’s summer time and I’ll remember this summer’s day and all of my memories will never fade away Oh how I love summer time in Turks And Caicos Islands every day.

 

David P Carroll.

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Crime

RTCIPF – Unidentified Male Shot

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***MEDIA RELEASE***

#TurksandCaicos, March 18, 2024 – A shooting incident has resulted in a fatality, with officers of the Serious Crime Unit currently at the scene.

Preliminary reports state around 9:17 pm today (March 18th), a call was placed to the Police Control Room indicating a male was shot at a location in Five Cays, Providenciales.

Officers arrived at the scene and found the lifeless body of a male with what appeared to be gunshot wounds.The victim was wearing long blue pants and a black t-shirt.

Further details surrounding the incident, including motive and the victim’s identity, are under investigation.

The RTCIPF asks the public to notify the closest police station, contact 911, the Serious Crime Unit at 231-1842, Crime Stoppers at 1-800-8477, and anonymously give any information on this murder.

Additionally, persons are encouraged to download the CrimeStoppers P3 app and share information.

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TCI News

“DISLOYALS MUST GO”; Human Trafficking CRACKDOWN takes off says Premier

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A determination to protect the Turks and Caicos borders and also weed out any ‘disloyal bad actors’ was the message from Washington Misick, TCI Premier, on Thursday, March 14, when he spoke in a National Press Conference geared toward border security.

He repeated information on the detailed package now approved by the United Kingdom that was shared by Dileeni Daniel-Selvaratnam, TCI Governor. Included in that package is: Policing equipment to support the RTCIPF to combat serious crime, including new capabilities on forensics, body worn cameras and CCTV; border security upgrades to the TCI’s drone surveillance capability, portable scanners, new engines for Department of Environment and Coastal Resources vessels, and support for the implementation of electronic borders and a comprehensive new package of support to radically upgrade the TCI’s maritime domain awareness with a roll out of advanced coastal sensors through the support of the UK’s Joint Maritime Security Centre.   

It follows ‘a very strong letter’ written to the UK government. 

Also included in that is the deployment of a marine vessel ‘The Trent’ identified directly by Misick to be deployed in the waters between Haiti and the Turks and Caicos to dissuade irregular migration.

Acknowledging the dangers currently associated with air travel into Haiti. The premier maintained that alternative options are being considered for repatriation of illegal migrants who are captured including more holding areas.

“We are concerned about our own pilots and equipment and it’s currently unsafe to land there.  It is too risky at the moment for our pilots and planes. That’s why it is very critical that we have these extra facilities to house any migrants that may come here.”

The Premier stressed that the security facilities at these spots were being upgraded to prevent any breaches 

Misick also indicated that over 200 migrants were caught from three interceptions in the past week. Additionally 18 persons have been arrested. Sixteen were held in Providenciales regarding gun and gang activities. Another 10 were identified in Grand Turk. 

He appealed to those who had information or connections to human trafficking.

”Come clean, come forward, if you have any information or involvement with illegal migration because whether you know it or not you will be found out.” 

Misick maintained that every person living in the TCI had a duty to protect it.

“I don’t care how you got here, by birth canal or boat, we all have an obligation to protect this rock—- I don’t care where you come from and how long you’ve been here but we’re serious and if we find anybody disloyal to these islands whether you have a PRC, work permit or status you can say goodbye,” he warned

As for why Ariel Henry, Haitian Prime Minister, had been added to the TCI stop list Misick said this:

”We have a significant number of persons from Haiti here. Now we don’t know who is here and we don’t know what threat would’ve been posed by the Prime Minister entering these shores— I’m sure there were supporters and opposition to his tenure in office, and we have no idea what that could lead to.”

He described the decision as reasonable, smart, and intelligent, comparing Henry to longtime criminal Jimmy ‘Barbecue’ Cherizier. While Misick maintained they were not the same, he said it was ‘nothing personal’ and the country wouldn’t take any risks with admitting anyone that could incite negative reactions. 

In terms of further border protection Misick  maintains that the Strategic Coordinating Group was doing an excellent job with the resources allocated to them, meeting every morning and updating the Governor and Premier on the current situation daily.

Premier Misick maintained that Haiti was not going anywhere, likening it to  a ‘chronic illness in the body’ that would need money to treat.

“Until there is stability in Haiti, both in terms of the politics and economics that is going to be the case, we don’t necessarily have anything against the Haitian people, but we cannot accommodate 11 million people or even anything close to that so obviously we have an obligation to look after our borders.”

Regarding long term strategies, Misick said the country was working on a Tourism Police Unit, and more regional information sharing. 

“It’s not going to go away, we’re constantly going to have to deal with the problem so we might as well have solid strategies in place to deal with it.”

He maintained that he was aware of the gravity of the threat but had to ‘keep a cool head’ with his responses and plans. 

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News

Provo International Airport reaches tipping point; desperate hunt for rooms for 200 Travellers left stranded

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Deandrea Hamilton

Editor

 

#TurksandCaicos, March 16, 2024 -Despite the desperate situation, no one is comfortable with ferrying hundreds of stranded tourists to nearby North Caicos to put them up in hotels after a dismal day at the country’s main airport; there are little to no rooms in Providenciales.

The Turks and Caicos Islands, one of the Caribbean’s most alluring destinations is plagued by an airport experience consistently delivering to it, a black-eye and on Saturday March 16 it was particularly ugly.

“For those of you waiting in inbound flight 855 JFK to TCI we have been diverted to Dominican Republic, DR.  I will try to post if I get any info.  Have a few drinks.  It’s going to be a while, said Julie Desantis on Turks and Caicos Tourist Guide, a Facebook community page.

Deb Ballard, who said her delay was more than six hours added, “Airport here in TCI is unbearable.  All the flights seem to be delayed, a thousand people in rooms built for a couple hundred.  Trapped.”

There was reportedly also a flight from Philadelphia diverted to the DR.

And too numerous were reports of the frustration of travellers at the Providenciales International.  Some, we were informed, were caught in explosive arguments while towing the chaotic, slow moving security checkpoint lines.  As flights were being called, passengers tried to rush ahead of others who had been waiting and in some cases that led to verbal confrontations.

It’s the kind of last impression, travel destination do anything they can to avoid.

We’ve learned there was no real help on the ground, in the terminal earlier in the day; however, by Saturday night, Josephine Connolly, the Minister of Tourism was at the airport vowing that no one would sleep at the facility.

“I will make sure that no one sleeps here.  I am doing my best to accommodate everybody that why I am here, my PS is here and Mr. Smith is here from the airports authority,” said Connolly.

She was hoping to also run interference of negative publicity for the destination and its main airport but this action by her may be a courtesy coming a little too late. In the age of self-reporting, passengers were free to film, comment and convey whatever was their experience and disappointment and many did.

It is how residents became most acutely aware of the dire situation; social media posts by guests themselves who were trying to understand what was going on and what to do about it.

It’s anyone’s guess why the Providenciales International Airport (PLS) is an absolute mess today because up to now, there has been no statement, no explanation, no directives and no solution for the thousands of travellers impacted and the hundreds stuck at the airport with nowhere to stay.

Magnetic Media has fielded dozens of questions and comments and perspectives including a message shared with the Turks and Caicos Hotel and Tourism Association, TCHTA which explains as many as 200 guests were in dire need hotel accommodations for the night.

“We are looking for any property owners/villas that has vacancy and can accommodate these stranded guests.  We are making calls to the hotels and for the most part most of the hotels are at 100% capacity.”

The surging tourism interest in the Turks and Caicos Islands is famously embraced; touted by government and industry stakeholders, and it’s been communicated that an overcrowded airport “is a good problem to have” on the way to fixing it.

But that message and the years’ long wait have become a vexing cocktail that even residents say they are tired of guzzling.

“…TCI can’t handle the volume of flights they schedule.”

The situation is so impossible, that there is serious – though admittedly, last resort – consideration for a ferry ride to shuttle the hundreds of travellers into another island, North Caicos, where there are guest rooms available.  In the dark of night and with no real illumination on the water way, that idea of a 45-minute ferry for people tired and frustrated by cancelled travel plans is not gaining traction and will likely be nixed and will hopefully not be needed.

“I have a guest that left here after 12 noon and just contacted me 45-minutes ago and is asking my assistance for booking the hotels in Provo and getting them a taxi,” said a resort employee who is worried about his guests and wonders what is the problem at the airport.

Magnetic Media has reached out for a comment from the TCIAA, whose CEO has also been given  the task of taking calls from vacation villa owners or resorts which have rooms for lodging; but there were no official statements up to publication time.

At midnight, there were mixed reports from guests.  Some having been set up with a one night stay, others who had no clue what was next.

March is normally busy and the Turks and Caicos Islands Airports Authority, TCIAA which manages the country’s airports should have anticipated that, explained hotel workers and others in the industry who are concerned about their guests and clients.

“Private jets are affected because they’re not allowed to land between 12 and 3 in order to avoid creating even more air congestion, the Miami Center, which controls the space around us, reassigns take off times to private jets despite their intended time.  So they are help up for sometimes, an entire day.”

Airline charter services are also skittish.

“…for fear they will get so delayed they will miss their next contract.  So now we are starting to risk our most top end clients as well as airline passengers.”

And the Airports Authority is not having the best time of it either.  Plagued with a wave of staff unrest which has led to some workers walking off the job, others taking industrial action and sudden terminations which are piled atop the infamous infrastructural dilemmas, it is clear any further delay on an immediate fix for the PLS will be detrimental to return guests and tourism on the whole.

“Three hours to get through the security line and then the delays,” explained a couple who are still at the Providenciales International though it is now minutes to midnight, adding, “So we have been here since 10:30 this morning and two of the people, the workers, they ran away from me.  They just left.  They just ran away, they were done!”

The guests are at the airport hoping for word on somewhere to rest their heads for the night.  TCIAA security officers have told them, they cannot sleep at the airport though many of them speaking to our reporter on the scene were prepared to do so.

Celeste Wagner Russ, a visitor to the TCI said: “The airport desperately needs an expansion – for passengers.  The space is mobbed, dirty and basically unhealthy for anyone.  The ladies room on the upper level is worse than anything I’ve ever seen in Penn Station.  The furniture is worn, dingy, and a very dismal welcome or departure.  For the tremendous number of travellers to T and C, this airport is a disgrace.”

The TCIAA, last month revealed, it had a short list of companies who qualified to advance to the next phase of the bidding battle.  The scope of work includes not only construction of an expanded airport, but management of it.  The end may be in sight, but it is admittedly years away from fruition.  An interim remedy for the PLS, is needed now.

“The congestions is exacerbated by no parallel taxiway. Which means an airplane can’t land and immediately get out of the way on the runway for the next guy to land because there is no parallel strip it could turn on to taxi to the terminal. So it takes twice as long to get each plane off the runway because they land, turn around and taxi back to the airport, where there may not actually be a parking space opened up for them yet.”

Residents in social media posts have called for flights into Providenciales to be spread out over the day; currently there is a bottleneck; commercial airlines are bunched up and landing at the strip almost one right after the other between noon and 3pm, while the mornings and evenings are like a graveyard.

Airlines have not wanted to change their schedules, and the fear is that any demand by the Turks and Caicos Islands could lead to destination Providenciales being dropped from the flight itineraries of the major air carriers.

Many have labelled that reasoning, given the phenomenal performance of tourism in the Turks and Caicos Islands, “a load of nonsense.”

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