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Feb 27, 2019

Belize City Commercial Center Nears Completion

As the Belize City Commercial Centre nears completion, Mayor Bernard Wagner has been left with the task of sourcing funds to furnish the huge structure. According to Wagner, the previous U.D.P. City Council did not budget monies to furnish and equip the interior of the building which will also houses City Hall. He says that it would take approximately eight hundred thousand dollars to build an elevator, furnish the offices and install a generator among other things. The Mayor says that banks have been approached for a bridging loan until the council’s six million dollars municipal bond is floated. For that to happen, Wagner says that the council is waiting for the Prime Minister to approve the bond.

 

Bernard Wagner, Belize City Mayor

Bernard Wagner

“We are faced again with a dilemma there that while we are getting a building, there was no provisions made for the interior of the building and you know that the interior of a building is costly. Off the top of our heads we are looking to somewhere in the area of eight hundred thousand to really complete the interior of the building. That means furniture.  There was no provision made for any elevator. There was no provision made for any generator. So that is where we stand with that building. We have approached our bankers obviously to look at how best we can get a bridging loan because initially we thought that by this time we would have the bond finalized. Unfortunately that has not transpired as yet for some reason or the other. We meet with the Central Bank next week Wednesday to present our final draft. We have sent the legislation to the Prime minister’s desk already through the FINSEC. So we are hoping that this bond is approved. It is a requirement. We need those funds to furnish the interior of the building.” 

 

Mayor Wagner says that the building is expected to be completed by next month. Every day that the council does not occupy the building, it loses money.

 


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