ALBANY DEVELOPEMENT DONATES 1MILLION TO URBAL RENEWAL FOUNDATION
Royston Jones Jr.
Guardian Staff Reporter
The Albany development yesterday donated $1 million to the Urban Renewal Foundation. The money will be earmarked by the development of a sports league, girls and boys clubs and other social intervention projects, according to Co-Chair Algernon Allen.
He said the “generous contribution” could be the single largest donation made to a social intervention program in the Bahamas. It is symbolic of a new norm that must mandate that we develop a more socially sensitive society”, said Allen, during the donation ceremony at Albany’s luxurious southwestern New Providence property.
“We cannot avoid it. Now the (Urban Renewal) foundation is structured to receive grants and it does so without government interference. I emphatically say so. And it is meant to achieve the initiatives of the Urban Renewal Commission (with) no political stripe.” Prime Minister Perry Christie said the donation is a reflection of the type of corporate citizens at the helm of Albany. “I was not surprised when they came back to me and told me that they were making a contribution in the amount of $1 million because in my mind they are that type of corporate entity here in the Bahamas, “ he said.
Under its amended heads of agreement, signed last month, Albany is obligated to sponsor a division A Junkanoo Group; help the government find a qualified buyer for the proposed South Ocean project; grant the government an easement to the entrance of the Albany marina and enhance the nearby Adelaide Village community.
Albany’s $140 million expansion, foreshadowed to start later this year, is expected to create around 1,000 jobs during its construction phase and around 300 permanent jobs.