REPORT - Lease holders owe Wickham’s Cay Development over $1M!
This information was released by the Wickham’s Cay Development Authority in their Annual 2011 report which was laid in the House of Assembly on July 24, 2012.
The report stated that lease holders failed to honour the agreement as set out in their leases. It was understood that in efforts to collect the money, the authority sent out statements regarding balance owed and telephone calls were made, but all were unsuccessful in encouraging lease holders to pay their debts.
According to the summarized report, in negotiation with Government officials in 2010 and with the help of the Attorney General’s Chambers, a letter was drafted to be sent out to lease holders to encourage them to pay their outstanding rent and premiums, but with instruction coming from the Premier at the time, Hon. Ralph O’Neal, he advised that the letter be sent out at a later date because of the problems faced by the economy.
“We had made several attempts to further discuss the situation with the Premier but unsuccessful since the government’s four year term was about to expire,” read an excerpt from the document.
The authority is still in the process of trying to collect the monies due and is dependent on the premiums and rents collected from the leases for their survival, according to the report.
Wickham’s Cay Development Authority is a statutory body of the Government of the Virgin Islands established in 1974.
The Authority is solely responsible for: acquiring take on lease, purchase, hold, manage and enjoy any property and sell, let or otherwise dispose of the same; borrow money for the operation of any authority; enter into any contracts and make, draw, accept or endorse negotiable instruments.






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