Is Pigeon Point Estate really worth $200M?

The Editor: Several recent statements have indicated that the state may have to pay an amount of $200 million for the compulsory acquisition of Pigeon Point Estate, Tobago. I believe that the persons making such statements either do not understand the true situation concerning the Pigeon Point Estate or are attempting to deter the legitimate acquisition of this property by the Tobago House of Assembly. In this context, I wish to present to the public the following factors that I believe should be taken into consideration in determining the true market value of the estate. Firstly, more than sixty percent of Pigeon Point Estate can be classified as wetlands that have little or no potential for physical development based on existing policy.

Secondly, a significant portion of the rest of the estate falls within the parameters set out in the Three Chains (Tobago) Act and can be utilised by the State for establishing pubic roadways or erecting public buildings without compensation to the present owners. Thirdly, the more recent physical undertaken by the present owners or occupiers has allegedly been done without the necessary planning permission. If this proves to be correct, then the State should not attach any monetary value to such development for acquisition purposes. Fourthly, the future owners or occupiers may have to bear the cost of restoring the coastal vegetation that has recently been destroyed, along with the remediation of the coastal erosion that is expected will occur as a result of the loss of the coastal vegetation. When one takes the above stated factors into consideration, one should understand that attaching a $200 million price tag for the acquisition of Pigeon Point Estate is non-sensical and may be a desperate attempt at frustrating the legitimate wishes of the majority of Tobagonians.

Kamau Akili,
Scarborough,
Tobago