Cayman Islands Government and Dart enter MOU

Cayman Islands Government and Dart enter MOU

The Cayman Islands Government has approved a Memorandum of Understanding (MOU) with Dart Enterprises Limited. With the goal of advancing, resolving and creating agreements on three matters, the MOU approved by Cabinet seeks to define actionable steps for efficient execution and seamless transition between administrations.

The MOU addresses the following:

National Roads Authority Agreement (NRA Agreement);

Integrated Solid Waste Management Systems contract (ISWMS); and

Barkers peninsula – meaningful advancement of the Barkers National Park concept.

A government negotiation team has been appointed by Cabinet to use all reasonable endeavours under the MOU to facilitate the development of resolutions for the agreements and provide advice to Cabinet. The team, which will be led by Deputy Governor Honourable Franz Manderson, includes the financial secretary and relevant chief officers.

The NRA Agreement was finalised in 2016 with execution of the 3rd Amendment. The multi-faceted economic stimulus agreement provided for the creation of the four lane, dual-carriageway Esterley Tibbetts Highway from West Bay to George Town. The MOU seeks to achieve resolution on execution of obligations in the NRA Agreement to facilitate recovery of fees related to significant investment in infrastructure and developments that drove positive economic activity during the financial crisis and through the pandemic, border closure and recovery period.

Government announced its intention to exit the ISWMS agreement on 25 July 2024. The committee will guide the exit process for that agreement.

The MOU will define a plan and mechanisms for creating Barkers National Park, facilitated through an exchange of lands.

In commenting on the MOU, Premier Honourable Juliana O’Connor-Connolly stated, “Discussions on the matters contained in the memorandum have been ongoing for many years and we know it is in the best interest of the country and our people to bring them to mutually agreeable closure.” She further noted, “The agreements have spanned numerous governments, and we wish to achieve clarity and not pass on ambiguity to future governments.”

“We appreciate the Premier’s and Cabinet’s willingness to engage with Dart to address these outstanding commitments and new agreements,” Chief Executive Officer Mark VanDevelde stated. “We look forward to working with the Deputy Governor and the Cabinet-appointed team on efficient and mutually beneficial outcomes.”

The Cayman Islands Government intends to close on the agreements before the end of February 2025 and will keep members of the public informed via official channels as the negotiations progress.