Hawksbill Creek Agreement
From Wikipedia, the free encyclopedia
The Hawksbill Creek Agreement granted 50,000 acres of land to The Grand Bahama Port Authority Ltd., with an option of adding an additional 50,000. To encourage investment, it also freed the Port Authority from paying taxes on income, capital gains, real estate and private property until 1985 -- a provision that has since been extended to the year 2054. The agreement came to be by the interest of Mr. Wallace Groves. In 1955 he approached the Bahamian government with his idea to build a town that catered to both industry and tourists. Shortly afterwards, the Agreement was signed into being.
 |
This article is uncategorized.
Please help improve this article by adding it to one or more categories, so it may be associated with related articles (how?). Please remove this tag after categorizing, but not before. |
