* Stands in 'direct opposition' top $580m project

* Rejects 'quid pro quo' notion on South Abaco

* Argue that 'size and scope' simply don't fit

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamas National Trust's (BNT) Executive Director last night said its rejection of the proposed $580m south Abaco project shows "we are definitely not swayed" by a developer's donation pledges.

Eric Carey told Tribune Business that the Trust's stance proved it will not "cut short our approach or high environmental standards in fully reviewing" the Tyrsoz Family Holdings development despite its principal promising to donate $1m to aid its efforts to approve the Abaco National Park.

Acknowledging that many may have viewed Ra’anan ‘Ronnie’ Ben-Zur's offer as "a quid pro quo" to ensure the BNT's support, Mr Carey vehemently rejected this interpretation. While conceding that it would have to work with the developer if the Government approved the project, he said "our choice" was that it not proceed given its location in an area of extreme environmental sensitivity.

"People thought there was a quid pro quo arrangement," Mr Carey explained of Mr Ben Zur's offer, "but no. If the development gets approval it will be in close proximity to the Abaco National Park, and we will have no choice but to work with the developer, but our choice is this development does not take place because the size and scope do not fit with what is in place in Abaco.

"We are definitely not swayed by any amount of money in the project proposal to cut short our approach, our high environmental standards, in reviewing this project." Mr Carey spoke out after the BNT, in a statement, said it had joined the Sustainable South Abaco coalition in "direct opposition" to the Tyrsoz Family Holdings project obtaining the necessary environmental approvals to proceed as is.

The environmental watchdog body said its decision was based on a "thorough review of the Environmental Impact Assessment (EIA)" submitted by Mr Ben Zur, and added: "The proposed development will directly reduce the quality and quantity of habitat available for bonefish, Bahama parrots, and numerous other commercially and culturally important species.

"This threat is compounded by the proposal’s economic shortcomings, which could undermine the project’s success, leaving large areas of pristine terrestrial and marine ecosystems decimated. While the proposal includes plans to mitigate some environmental damages, these measures are not enough to justify the environmental degradation necessary to complete the resort, marina, golf course and other structures.

"One mitigating activity of note is the donation of land and funds to the BNT to support conservation activities. This concession was not the result of any request, solicitation or suggestion from the BNT, and will not influence the organisation’s view of the project."

Tyrsoz Family Holdings, in materials detailing its plans, said it would contribute significantly to environmental causes via a $1m donation to the BNT "for the purpose of improving and developing the Abaco National Park" and its 20,000 acre pine tree forest.

The developer also pledged to grant 175 acres from its landholdings to increase the Abaco National Park's footprint, along with a $350,000 donation to develop a coppice tree habitat for the Abaco Parrot. And a further $1.5m was promised to restore the Hole in the Wall lighthouse.

The BNT's rejection of his project comes at a sensitive time for Mr Ben Zur, with the consultation process on the EIA having just concluded. That material, as well as its own review, is now being considered by the newly-named Department of Environmental Planning and Protection (DEPP) as it determines whether to grant the permits and approvals he needs.

Mr Ben Zur had recently told Tribune Business he hoped to obtain approval before year-end, and then move on to the Environmental Management Plan (EMP) early in the New Year, although several sources suggested this timeline was unlikely as decisions normally took around 60 days from EIA submission to be rendered.

The developer, though, already has a signed Heads of Agreement with the Government for the project dating from just before the COVID-19 pandemic. And, as reported by Tribune Business, he has received strong backing from the south Abaco District Council in the hope it will bring much-needed investment and job creation to the area.

The project's two sites, covering a combined 1,100 acres that Mr Ben Zur has an option to acquire, are extremely close to breeding and nesting grounds for the Abaco parrot and other valued wildlife. Mr Carey, in particular, voiced concern about the planned golf course "in a very sensitive area, so you're talking about several hundred acres of annihilation of natural habitat".

"That is a huge environmental footprint," he added. "We just don't see how it fits. The sad part is a lot of thought went into south Abaco and what could be sustainable there. The late Orjan Lindroth was involved, and the environmental consultant, Keith Bishop. A team from St Andrew's University came in to look at what was best for south Abaco.

"We understand people want jobs, and understand the terrible stress south Abaco has been under because of Hurricane Dorian and the double whammy with COVID-19. But we have to be careful about jumping at the first one that comes along. It may have short-term benefits, but long-term the environmental impact is not going to be offset by whatever development happens in this area."

Asked to explain the BNT's statement that the Tyrsoz Family Holdings project has "economic shortcomings", Mr Carey said this relied on the document obtained by Sustainable South Abaco - reported on in this newspaper - showing that Mr Ben Zur was contributing just $10m of the required $60m in equity funding, and seeking other investors to make up the $50m balance via a limited partnership.

He added that too many resort and real estate-based projects were started without the necessary financing in place, resulting in their shutdown and/or closure and leaving The Bahamas and surrounding communities to grapple with the consequences of prime commercial land being tied-up for years.

Mr Ben Zur, though, has repeatedly asserted to Tribune Business that he has all the financing necessary to proceed with the project. And he has also argued that the project's economic viability has been "stretched to the maximum" to produce "the lowest density project in The Bahamas" and satisfy environmental concerns.

The Tyrsoz Family Holdings project currently features 170 hotel rooms, 290 residential units, a 136-slip mega yacht marina, 18-hole golf course and other amenities. However, the BNT argued yesterday: "The proposed marina will disrupt the nation’s second-largest freshwater lens – the source of much of the unique biodiversity found in the area and in the Abaco National Park.

"In addition, construction and dredging will generate turbidity which can disrupt one of the largest bonefish spawning aggregations in The Bahamas, coral reefs and seagrass beds in the area. Lastly, a significant portion of rare, old growth coppice habitat that supports Bahama Parrots, Bahama Warblers, and other resident and migratory birds will be severely degraded.

"These are just three examples of the many negative impacts this and other unsustainable developments can have on the environment that supports our way of life. Allowing this development would mean sacrificing the ways of life people have come to rely on for a questionable chance at financial returns."

Mr Carey, in a statement, added: "A national investment policy should be formulated in co-ordination with the National Development Plan to seek developments that are sustainable, environmentally friendly and complement how we would wish development to take place on our chain of islands.

The BNT added that it plans "to canvass the owners of properties surrounding national parks and protected areas to gauge and generate interest in sustainable developments that would complement natural areas.

"The Bahamas, and particularly the areas surrounding the Abaco National Park and Cross Harbor protected area, can be developed without sacrificing the natural resources in our stewardship," it added. "Instead of sacrificing our natural environment for the promise of financial gain, we can capitalise on our natural resources while preserving their integrity."