Premier Ewart Brown last night said he remained confident plans for a five-star hotel complex in St. George's would not be scuppered by the global economic downturn — but warned nothing is definite in the current climate.

The Premier told a public meeting that Bazarian International had not yet shown him documents guaranteeing it has the cash for the $294 million Park Hyatt scheme at the former Club Med site.

However, he reassured residents that Bazarian says it has adequate funding, while its status as the leading developer in the Caribbean would stand it in good stead in potentially rocky times.

Asked by an audience member what level of assurance he had got from the developer that funds are in place, Dr. Brown replied: "I do not have in my possession a document that assures that this developer has a certain amount of funding in his hands at the moment.

"I can tell you that this developer has assured us, and we have done due diligence, that he has adequate sources of funding for this project.

"In today's economic environment, nothing is definite. Nothing is without possibility. But to date not one of the prospective developers for Bermuda, not one, has come forward and said: 'We are not going to be able to do this job.'

"But we are aware that fortunes change; lenders come and go.

"But this particular developer is in the middle of a major project in the Dominican Republic. He's considered to be the foremost developer in the region.

"We are confident that with each step of the way he shows us evidence that he is able to do what he says he will do."

About 130 people attended last night's meeting at Penno's Wharf to discuss the Park Hyatt (St. George's) Resort Act 2008, which MPs will debate at a special parliamentary session on Friday.

Cabinet Permanent Secretary Marc Telemaque explained the Act allows land to be leased to developers for 262 years to make it more marketable.

Works Minister Derrick Burgess dismissed a suggestion that private properties could be subject to compulsory purchase orders.

One man complained a popular diving spot would be taken away by the development, saying: "This is cutting into people's play areas." He said longtails nests and parrot fish would also be threatened.

Dr. Brown also revealed he had asked Governor Sir Richard Gozney for more policing in St. George's due to complaints about response times.