UPDATE: Land title delay affecting loan chances - Osborne
Osborne related that he was informed by a senior government official within the current administration that the portion of land, situated in the Coppermine area at Valley, Virgin Gorda, only needed to be surveyed before the official documentation could be handed over following the purchase of the land in December 2010.
A letter sent at that time and seen by Virgin Islands News Online indicated that infrastructural work to provide access to all lots within the subdivision was still to be carried out by the Crown. The letter further stated that the transfer of the land would take place once these works were completed.
According to the letter, pertinent information regarding the allocation of land should have been provided upon completion of the infrastructural work after which arrangements were to be finalised for the transfer of the title to Osborne.
The businessman expressed that the delay in having his land title processed is affecting his business in a tremendous way, particularly with regard to executing a planned event. “If I had my land title I could have easily gone to the bank,” Osborne told this news site.
Osborne related that as a result of the delay in processing his land title he has been forced to seek the assistance of the Office of the Premier in facilitating a loan from the National Bank of the Virgin Islands (NBVI) to execute a major tourism initiative, the BVI Latino Poker Run Festival which is expected to be held next month.
See previous story posted May 12, 2014:
EXCLUSIVE: Local entrepreneur ‘stifled’ by Premier in Latino Poker run
ROAD TOWN, Tortola, VI – Local entrepreneur, Devon U. Osborne has questioned the lack of support that he has received from the Office of Premier Dr The Hon. D. Orlando Smith for assistance in his latest business venture and has complained of feeling stifled.
“I feel like if I am being stifled,” Osborne, the CEO and President of Virgin Islands Entertainment (VIE), said in an exclusive interview with Virgin Islands News Online. “I feel like I’m not being able to progress and I don’t know what is the reason,” he added. “All I want is help.”
Osborne launched the 5-day BVI Latino Poker Run Fest in August 2013 which was designed as a flotilla event and comprises a Latino Poker Run, a Miss BVI Latino Poker Run Contest and Musical Entertainment featuring overseas artistes.
The entrepreneur said repeated approaches to the Premier and his office, both oral and written, have received no acknowledgment or response for over two years and with the event being a little more than one month away after being scheduled from June 19-24, 2014, it appears that there will now have to be significant adjustments made in order to get it off the ground.
According to his latest letter sent to the Premier’s Office dated May 5, 2014, VIE has been able to obtain over twenty thousand dollars in sponsorship funds and contributions from members of the local business community. However, their targeted goal for the event has not been met through this amount.
VIE is seeking assistance from the Premier’s Office to facilitate a loan of around four hundred thousand dollars from the National Bank of the Virgin Islands.
In the letter, Osborne said he approached the Premier through the BVI Chamber of Commerce and Hotel Association (BVICCHA) to have a conversation which will explore ways in which the Government could assist in acquiring the loan from the National Bank of the Virgin Islands to fund the production of the event.
Further, Osborne’s company, Devon Osborne Inc, has also submitted a proposal through the BVICCHA to secure a marketing contract to promote the Virgin Islands as a premier yachting vacation destination to Latin countries. This will see the event being filmed and used as a marketing tool to attract more visitors to the Virgin Islands during the slow seasons.
None of these initiatives have been able to receive either an acknowledgement or response from the Office of the Premier about his position regarding support.
Osborne expressed that his initiative to host the BVI Latino Poker Run Fest was birthed after the National Democratic Party (NDP) government embarked on a campaign in February 2012 inviting stakeholders and entrepreneurs within the tourism industry to bring forward business ideas and ventures to enhance the Territory’s tourism product.
“Being present at that event I did not take the request lightly as I believed that this would have been the opportune time to make a significant contribution as an entrepreneur to the Territory,” Osborne stated.
He acknowledged that the government has offered sponsorship for his event through the BVI Tourist Board in the sum of five thousand dollars but expressed that this was different from what is being requested and what has been doled out to others over the past two years.
He noted that the Premier, along with his Office, has personally sponsored other events, many of which came long after his event, and has issued written statements giving his support. “I’m not knocking anybody who gets the support of the Premier, but we [also] want the support,” Osborne stated.
Osborne said a failure to bring the event to fruition will damage his credibility before the many sponsors whose monies were accepted and invested into the production of the event.
“I have made many commitments and representations relying on this event and on your promise to support BVIslanders when they bring ideas to enhance our tourism product to the table as I believe in your statement,” Osborne said in his letter.
Given their commitments, VIE has vowed to make the event come to fruition but sees it as discouraging that no acknowledgement or show of support has been forthcoming from the Office of the Premier.
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121 Responses to “UPDATE: Land title delay affecting loan chances - Osborne”
Most likely he already went to the National Bank and he has been turned down.
BLESSED.
He ran for office and once you got MVW against you, it will be hard to convince weak Orlando.
Dr. Smith I am not supporting you no more.
Dr. Smith is the weakest leader I have ever seen in my life and he can't make a decision on country before party.
Send VIP help all the way!
NDP MUST GO!!
To this day I am still thankful to Mead Malone who would look at our proposals and advise us on the way forward. I am always dumbfounded when anyone thinks that something will become a huge success in the first year. Everyone who is in business and knows about business understands that it will take approximately five year to figure out if the business will succeed. The first two years means nothing and most businesses go under for lack of management and funding.
Don't give up I think you have a great idea but if it's a great idea in time the stake holders, private industry and Government will come knocking at you door wanting to be a part of the success. Promoters are behaving like the Government is obligated to sponsor with huge sums of money while the High School, Hospital and infrastructure is falling apart.
The Music Festival did not fail because of Government, major industry and businesses stop sponsoring it. To prove a point, we left over $500,000.00 on the table when we left, ALL CORPORATE SPONSORSHIP. We had a 5 year Million dollar sponsorship package from one company. However, it did not happen overnight, we had to prove ourselves worthy of the sponsorship we received. Your collateral/event has not value until it is proven to be managed and organized for at least three years.
Whoever your sponsors become will have a say in your event. If anyone gives you more then you have injected into your event, they become the majority stakeholder(Smile).
The majority stakeholder is the owner, think about it.
Don't give up...
If you believe in this put your home and land up to secure a loan. You will make a huge profit and pay the loan back in one year ask yourself, you know the answer :0)
Show us that it's successful first and then maybe we can support it in the future.
I guess the outrage is not as bad as you would have liked. Most people seem to agree that government does not owe him anything. The help would be great I agree, but it's a private venture. Maybe if it becomes big they can jump on board. Sorry bud, the government does not owe anyone anything.
I am a shame of Myron V Walwyn for trying to keep the brother down.
missing from the puzzle. Any business person entering into a venture knows
well when to committ themselves and for a first time venture is even more
delicate. BVi poker Run takes Government 10 years before the give a flag
and welcome magazines. It was CNN broadcast during prime time that got
the attention of Government.
Deveon reminds me of Rodney demanding Government must pay up to make
his event sucessful.
The real world of business is not like that any more if it ever was. The concept
is a great one need tweeking to include all aspect of the industry it involves, not
difficult to figure out. I would volenteer my expertise to assist with it should the opperuniity
arrise. Best of luck you have to try to fail and be persistant to suceed.
Boss go sit down for godsake. You think those companies will hop on board a first time trial event and spend major money on it? They will tell him prove its worth this time and check them next time. No company with sense will put this type of funding into a first time event with no guarantee of who it will be pulled off. That's why he come to Government because Government usually act like they don't have any sense. Same with Music Fest. It started out good years ago and turned into rubbish. Not one major corporate sponsor wanted to touch it but somehow Government should do it? As another poster said, when you putting all or most of the money into something, it becomes yours. Music Fest and others want Government money but don't want Government in their business. NONSENSE! I remember at one point Music Fest had LIME sponsoring $1mil over 5yrs, that's $200K per year. That means they had real confidence in the promotion. The fact that we have so many corporate entities around here and not one wants to touch Music Fest, it says a whole lot. Point blank, if this promotion by Osborne was so solid and he had a good business plan, private enterprise would gobble it up. When you already have a major brand like Moorings on board, why you need Govt. for the $400K? Something isn't adding up. To add to that, look at the last major promotions put on by Devon. They all cost a lot and flopped TERRIBLY. The worst one was the wrestling in the multi complex. Looking at your track record, nobody will give you $400.00 muchless $400K. And guess what? Doing bulls..t has nothing to do with where you're from. Being local doesn't change anything, I don't understand. Leverick Bay Poker Run brings in more people than many other events and as far as I can see, Tourist Board probably supports to an extent but I never recall hearing them begging for any money. They started it, grew it and now it's something everyone wants a part of.
We are becoming too blind and foolish accepting every bit of nonsense that people with half a brain throw at us. If you want a Public/Private partnership then you have to show in real terms how it would be beneficial. You must have a good business plan that makes sense not a 'pie in the sky' fantasy. Remember the foolish man built his house upon the sand while the wise man build his house upon the rocks. What business model are we following? We already have a welfare state and it's time we be weaned off the breast of the government. If this was such a blockbuster event the very potential sponsors that Osborne said are willing to back him if government steps in would see the big picture and grab the opportunity. The idea is splendid but you have to creep before you walk. Most businesses started small and grew from strength to strength and that lesson must be taught. If this event was so organized and ready we wouldn't be at the point where we are asking government to fund it. We don't need more 'free for all' parties that do not bring in decent returns. This is not one of the roles or functions of government and we must stop expecting it. Demonstrate success with the smaller things and then people would trust you with the bigger ones.; not the other way around.
This is not what they preached they will do on the campaign trail and to see an individual who went out on a limb to do better for his country being shot down like this by the NDP bloggers is a disgrace.
There must be more to come so let us wait and see.
I support you Mr. Osborne and I am hopeful that you will be able to pull it off.
He needs to put up his own collateral. I think I need to remove my money
U need to remove yourself from blogging p..s. If you had invested money you would have approached him privately but since you say it publicly inciting that you invested money, well he have a right to publicly say that this weak government leaded by Hon. Dr. Orlando Smith does not know how to be of courtesy to people even if they don't support your ideas.
Dr. Smith and CRONIES must GO!!!!!!!
Now to 'But...'
This is how rubbish does start. I know you clearly read that Tourist Board IS SPONSORING DEVON'S POKER RUN! Tourist Board Sponsors almost every event that promotes Tourism in the BVI. They are NOT giving Scrub Island a loan nor are they giving them a wad of cash. Osborne is essentially asking our Government to co-sign on a loan for almost half a million dollars to put on a first time event. Are you f..king serious with the comparison? All you are trying to do is start the white vs black, expat vs local bullshit and it won't work. TB will promote Devon's event as well and this was stated in the piece. I take it that the Premier already directed him to the TB and he's not satisfied, but rather want the Premier to engage him directly. The Premier doesn't have to answer him if he has been directed to the TB, which also falls under the Premier. The Government better don't f..k around on this one. We have many young people that want to build their first homes. That $400K backing could go toward backing 8 loans of $50K each to help some youngsters buy land in the BVI, what damn poker run? He needs to put on his first show, prove it then he can have a track record. With all the so called support for this, you trying to tell me if Moorings know this is a gold mine, they won't jump on board all out? NO! They on board to the point that many of their boats will be rented out, that's it. They can pump money and they also have contacts who can pump money. The fact that he has been planning this for so long and coming to Government says a lot. I like Devon and I wish him well with this event, but you cannot be seriously asking Government to back $400K on a risky endeavor. Name one event that Devon has put on successfully, just name one. Frank's Music Fest is the single most tourist driven event (apart from August Fest) that positively affected the BVI and Government never gave him nowhere near that kind of money.
Go suck an egg and get the facts and see how much money the government spend on foreign companies for promoting we and we don't know who dem is.
Jealous??? HAHAHA!! I'm jealous of a man begging the Government to back a $400K loan so he could f..k it up on a few yachts with latin ladies? GTFOH!! Show me the part I should be jealous of because maybe I missed it.
Lord this ship is sinking with hatred. WTF, I believe you should get a spanny to give you a good B j.. and then you WILL admit that you leave your mother house to go spend all you money on Spanish woman.
BRING THEM LATINA LADIES SO I CAN HAVE FUN. BETTER LOOKING THAN THESE KING KONG GIRLS HERE. LOL
Keep him out of the NDP camp!
that will help the BVI to advance .
The politicians ' decision are always
at the detriment of the BVI.
How do you know the value of the land if it has not been surveyed as yet and how do you know the size he is getting?
It shows that there are government officials who should be doing their job and they here blogging to oppress people who wants to progress.
Shame on you!!!
Dr. Smith please ignore MVW and help Devon.
ALL THE BLOGGER HATERS CAME AT THIS MAN TO CRUCIFY HIM AND THE MAN IS REALLY BEING OPPRESSED BY THE NDP GOVERNMENT.
GIVE THE MAN HE DAMN LAND TITLE OR HELP THE MAN SO HE CAN BRING THE LATIN JAM!
WTF!!!
Why don't you buy it from him so he can get the money to do his event?
Sorry behind, LOL LOL LOL
I heard Hon. M W is the one pushing non support for the event.
This is politically wrong.
So he wants to use a personal land grant to help back a $400,000 business loan. Somehow I don't think that was the spirit in which the grant was given. There are many young people who would be glad to get a land grant and then focus on getting a loan to build a home. And instead of saying thank you to the previous government for the grant, Osborne is here bashing the current government because they have not built his access road yet, nor backed his loan application with the people's taxes.
I think it is safe to say this is the seal on the coffin for his political ambitions.
I have three good pieces of land and two buildings. I have a six figure income so I don't need to run for politics. I am in this situation because of hard work.
I am not particularly interested in Latino stuff.
And what do you care if my face is screwed or nailed? The point is, you are defending an ungrateful man who still wants more at the taxpayer's expense.
Invest in the project or give piece of your land then fool!!!
Sometimes it's better if we just keep quiet. All he has done now with this latest information is make a fool of himself. You get Crown Land in VG for a total of $700.00 and you're going to collateralize it for a loan on a very risky venture? Are you F..KING KIDDING? Is that even legal? Don't we have any stipulations when being given special concessions with Crown Land? No man! It's best he kept this entire thing to himself. LOL...
That goes to show that VINO is number 1 and Mr. Osborne has proven himself to get many attention so I believe that he can do the job of getting the Latino's attention through his business venture.
JUST ANALYZING THE SITUATION IN A POSITIVE LIGHT SO GIVE JACK HE JACKET!
No funny people allowed.
VIP + PEP = - NDP
Why do we fight down our own? Geez man.
Just support the man for his efforts at least. This entrepreneur is willing to stand his loses if it doesn't work out!
Geez