PLP hits back at OBA for “politicking”. Meanwhile, the taxpayer cost of inactivity on the peninsula keeps going up…
The PLP’s Zane DeSilva has come out swinging in response to comments by Michael Fay, who suggested that Government is not providing enough detail on plans for Morgan’s Point.
He harks back to the “horrendous, financially irresponsible and catastrophic” $165-million guarantee that the former OBA Government put over a failed deal at the site, and the subsequent taxpayer burden.
The Housing and Municipalities Minister adds that “what’s most striking is that neither MP Fahy nor any of his OBA colleagues have ever apologized for this decision. Instead, they now demand “clarity”…”
Mr DeSilva says taxpayer costs related to the Morgan’s Point guarantee have now risen to $230-million in payouts and interest. We reached out to Government last week to request a breakdown of the additional costs.
The Morgan’s Point Development Company was formed by Government in December 2022 to manage redevelopment at the site, with the aim of creating revenue streams to counter the losses incurred.
As Gary Foster Skelton notes, the longer we wait for something to happen at Morgan’s Point, the bigger the taxpayer burden gets. (WATCH ABOVE)
