OBA to repeal Park Hyatt Act – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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OBA to repeal Park Hyatt Act

Government is moving ahead with plans to repeal the 2008 Act that gave Carl Bazarian the right to build on the former Club Med site in St George's, and make the land available for another developer.

The former Progressive Labour Party government's agreement with Mr Bazarian, which gave the developer a 262-year lease on the site, was cemented through the Park Hyatt Resort (St George's) Act 2008.

It terminated the agreement before losing the general election last year, but the Act must be repealed before any other use of the land can be considered.

On Friday, Government tabled the Park Hyatt (St George's) Resort Repeal Act 2013.

But Mr Bazarian may yet have a role to play in developing the site.

In July, The Royal Gazette revealed that the developer was still hopeful of being involved in a project at the site, and was in talks with fellow-US developer Nathan Landow over financing for a fresh bid.

Premier Craig Cannonier has said that Mr Bazarian would have to make a fresh application to Government if he was still interested in developing the site.

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Published September 17, 2013 at 9:00 am (Updated September 17, 2013 at 1:37 am)

OBA to repeal Park Hyatt Act

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