Hamilton STAKEHOLDERS IN the development of Corporate Area inner-city communities yesterday welcomed Prime Minister P.J. Patterson's announcement on Wednesday that cash from the Caracas Energy Agreement is to fund an inner-city renewal project early next year.
Public Defender Howard Hamilton, Q.C., who earlier this year announced his initiative to raise $2 billion to fund a drive to foster a better lifestyle in inner-city communities, said the announcement was timely.
"I welcome the news because what is being contemplated is a partnership with the public and private sector," he said. "There is a lot of need in the inner city so you can't have too much money."
Mr. Hamilton added that the Kingston Restoration Company (KRC) had several proposed inner-city projects needing funding, and he said the government's input would redound to the benefit of those communities.
During an address to the Urban Development Corporation's (UDC) long service awards presentation and Christmas party, held at Caymanas Golf & Country Club, St. Cath-erine, Mr. Patterson said cash from the Caracas Energy Agreement, signed between Venezuela and member-countries of the Association of Caribbean States (ACS), including Jamaica, is to fund an inner-city renewal programme expected to start by March 2001.
"Cabinet, after a very careful study by our respective agencies, has agreed on an integrated plan for orderly urban development which will commence in portions of the Corporate Area in the first quarter of next year," he said.
He said the UDC would have direct responsibility for the implementation of this project which, he said, is to also involve improvements to rural infrastructure.
The PM, when asked, was unable to say when the programme was expected to start or how much it would cost, but said that data on the proposal was being collected and that details would be announced soon.
Efforts yesterday to speak with Morin Seymour, the KRC's executive director, were unsuccessful, but Monsignor Richard Albert, founder of the St. Patrick and Stella Maris foundations in two of Kingston's inner-cities, said he, too, welcomed the news but expressed some concerns.
"I hope that for transparency's sake, the implementation will include NGOs (Non-Governmental Organisations) that have credible track records in the inner-city and genuine community leaders, not political thugs," he said.
He added that there could be a tremendous impact on inner-city communities if the major stakeholders pool their funds and efforts and go as a team. "It is a most enthusiastic one (project) and I congratulate the Prime Minister and the Government of Jamaica for this tremendous initiative," Monsignor Albert said.
The Caracas Energy Agreement, signed on October 19 this year, complements the terms of the San Jose Agreement, through which Venezuela offers special financial conditions to signatory oil-buying countries.
Under the agreement, while full payment of the oil is due to the supplying country, up to 25 per cent of the bill is, in turn, made available to the importing country as loans to finance approved projects. The quantum of loans amount will range from 10--25 per cent of the amount paid for the oil depending on the prices paid, with a one-year grace period and repayments extending over 15 years.
Outlining the UDC's achievements, Mr. Patterson said that last year, the Government, through that agency, had invested some US$2.1 million to jump-start the Port Royal Development Company project which, he said, he expected to be completed sometime next year.
Also, he said the UDC was investing some $300 million to upgrade Dunn's River Falls & Park, and that his administration had recently acquired the Green Grotto Cave in St. Ann, which is to be renovated and upgraded over the next years as a major attraction.
