Davies responds to Shaw
published: Monday | October 6, 2003
DR. OMAR Davies, Finance and Planning Minister, last Tuesday gave the following answers on the sale of the official residence of the Governor of the Bank of Jamaica. The questions were tabled by Audley Shaw, opposition Spokesman on Finance.
Ques 1: Has the official residence of the Governor of the Bank of Jamaica situated on Bracknell Avenue been sold?
Answer: Yes
Ques 2: If the answer to part one is in the affirmative, will the Minister state the terms and conditions of the sale, including the sale price.
Answer: Sale price (excluding closing costs) £400,000 of which real estate, £326,550, chattels £73,450, deposit £200,000, balance on closure £200,000. In addition to the £200,000, the purchaser's share of closing costs is now payable by him to complete the transaction.
Ques 3: Will the Minister state the full cost of acquiring, refurbishing and maintaining the house, from the date of acquisition to the date of sale, including the cost of 24-hour security as well as maintenance staff?
Answer: Property acquisition $22,084,900.00; building and site maintenance $10,944,762.51 between 1998 and March 2003; furniture and equipment expenditure $7,037,144.62 between Nov. 2001 and Dec. 2002. Sub-total $40,066,807.13.
Maintenance and other recurrent expenditure: Security, between 1999 and 2003 $4,483,131.40; gardener, between 1999 and 2003, $750,043.17; utilities, $596,915.53; maintenance, between 1999 and 2003 $1,723,976.55; helper, between 1999 and 2003 $139,802.49; property taxes $36,899.55. Total $7,730,768.69.
