Edward Benevides, the new Chief Operating Officer at City Hall, is looking at a 20-year timescale for waterfront projectDespite looming hard times the Corporation of Hamilton is pushing ahead with grand plans to transform the waterfront.

But the credit crunch could be over before work starts with new Corporation of Hamilton Chief Operating Officer Edward Benevides admitting it could be 20 years before the project is finished.

The plan includes a new jetty for cruise ships with a waterfront theatre, open-air amphitheatre and park, retail space, a conference centre, an underground car park and restaurants.

The Corporation has written to Government requesting support for a land reclamation project.

Mr. Benevides said: "We have allocated a considerable sum of money in this year's budget for the next set of tests."

A development brief and an environmental impact study is the next step and will take most of this year.

"If everything went great I would be thrilled to think we can start that reclamation in the next three to five years," said Mr. Benevides.

"If the credit crunch comes in that might move things further out a little bit. But before we spend all that money we would like to know where Government stands."

He said talks were being held with Government on a new ferry terminal. "The project for the waterfront has not changed in scope."

Government might be asked for money for some of the land reclamation and a new ferry terminal said Mr. Benevides.

But he added: "We are not looking for Government to underwrite this in any way."

The whole development, which could take more than two decades to complete, will feature an underground car park for 880 cars with another street built nearer the shore than Front Street.

Asked if a simpler project might be needed because of the credit crunch and the lengthy timescale Mr. Benevides said: "That would imply that this project could be completed within the next 12 to 36 months which would be affected by the credit crunch but it's not."

He said the Corporation wouldn't be looking for financiers for another three years or so. "The credit crunch might be over earlier than that."

Chamber of Commerce president Philip Barnett said the redevelopment of the Hamilton waterfront was vital for Bermuda for coming generations.

"Creating some vibrancy along the waterfront is going to be key."

But he wondered whether a simpler cheaper plan might be wiser to get something in place sooner to beautify the area.

And he said increased urbanisation of Hamilton might remove the need for so many parking spots if more people lived in the city.

Mr. Benevides also revealed a new works depot is the priority for this year. Tenders will go out in February for the project on the north side of Bull's Head car park.

The two storey building will include offices and a purpose built depot to improve efficiency and replace the ad hoc building that exists in Dundonald Street.

And Mr. Benevides revealed the Reid Street pedestrianisation plan has been deferred to 2010 or beyond for further review despite a lengthy planning process which took it right up to the tendering state.

"Now the drive to make it pedestrian is far less than it ever was."

Reid Street pedestrianisation will be factored into a traffic study planned for this year with a view to improving the traffic flow.

Parking lots size might have be looked at because of an increase in the size of vehicles, said Mr. Benevides.

Mr. Benevides, who has spent the last six months with the Corporation on a contractual basis was appointed Chief Operating Officer last week, combining the post with Corporation Secretary.

He said he is also looking at revamping the Corporation and that the same rules had been in place for decades.

"We are changing our structure from a council that would operate in a small town somewhere to a multi-million dollar organisation."

All the members are up for election this year assuming there are challengers although no date has been set and there will also be a replacement for councillor Anne Kast next month.

Ms Kast, owner of Kast Investment Management Ltd., stood down late last year to avoid controversy about her right to be on the city's electoral roll.