Letter
Finding a Balance for FutureDevelopment
Dear Sir:
As we all know, recentlythere has been much concern voiced by our local National Trustregarding the protection of our wetlands and its surrounding vegetation.While I do agree that certain guidelines should be implementedto safeguard against the total destruction of what could takedecades to replace, we have to be mindful of the fact that onlya small portion of our physical land mass can be developed withoutthe need for land reclamation.
Seeing that much of that land has already been developed, if weare to continue to enjoy economic growth we must now find a sensiblebalance between development and environmental protection.
All who have lived herefor the past 40 years has seen the Islands rise from a dormantvillage to a robust and bustling financial centre. During thistime we have seen our beachfront properties soar from barter valueto thousands of dollars per foot.
Although many seem to haveforgotten, most buildings that now occupy the jewel of our realestate properties, the world-renowned Seven Mile Beach, couldnot have been built without the removal of mature vegetation.Unfortunately, the undeveloped properties in this area have diminishedto the point where it is no longer an attractive development propositionto the large overseas investor(s).
The greater portion of undevelopedland on our Islands falls within the boundaries of so-called wetlandsor grown vegetation. Therefore, if we take a hard-line stand onlogical development in these areas not only will it have an adverseaffect on real estate development, but on the future economy ofthis country as a whole.
As previously stated, manyconcerns have been raised in connection with proposed developmentsby overseas developers. Be that as it may, I strongly disagreethat a developer who purchases property for development and paysthe required stamp duty should be harassed later to the pointof abandoning his investment.
I'm sure all will agree that, to date, what has been done by theCayman Shores developer is only a plus for that area. This particulardeveloper has spent millions of dollars not only to purchase theproperty but also in cultivating many native plants to be usedto landscape this development.
Other developments includingthe Ritz Carlton project have faced many issues. Although manyof the concerns may be well founded, perhaps, rather than imposingdifficult to overcome restrictions a little creative assistancewould be more constructive.
For example, by using themangrove as an original hedging or part of the landscape whereverpossible will help to achieve both objectives, the proposed development,as well as saving much of the natural vegetation.
I strongly agree that clauses should be mandatory in each developer'slicense that Caymanians benefit in all stages by the development.However, everyone wants better roads, fancier cars and biggerhouses but these do not just fall from the sky.
We must realize that oureconomy has reached the stage where, not only must we maintaina high level of business to sustain our present status, but wemust continue to grow, if we are to remain among the top financialcentres.
Perhaps many do not realizethat without real estate development which generates the constructionindustry, our other two main industries, tourism and banking,will suffer and may eventually be forced to reduce its staff orperhaps close entirely.
We must work hand in handto achieve our economic goals and embrace our heritage and culture,our greatest asset.
John W.Ebanks