Communications and Works Minister Dr. Clarice Modeste-Curwen has admitted that the multi-million dollar golf course and hotel project at Levera on the northern side of the island has experienced some major setbacks.

She made the disclosure during a sitting of the House of Representatives last Friday held at York House, St. George's. Minister Modeste was responding to questions asked about the project by Parliamentary Representatives for St. Andrew's South-East and St. George's North-West Kenrick Fullerton and Nazim Burke respectively.

The Parliamentarians who are executive members of the opposition National Democratic Congress (NDC) wanted to know if the Grenada government had guaranteed any money for the Grenada Development Company (GDC) the developers of the project.

Sources told GRENADA TODAY that the project is now at a standstill and the original developers from the United States have apparently left the island before completing the work. Government is reported to have guaranteed 29.7 million to the company to start the ground work which would result in the construction of a golf course and villa.

The opposition parliamentarians questioned as to how much was guaranteed as well as the time frame for the completion of the project.
Modeste-Curwen pointed out that there are several details concerning the development at Levera she was unable to provide since she was recently appointed Works Minister and has been out of State for some time.

The senior government Minister indicated however that the project has experienced several setbacks due to some operational problems. Finance Minister Anthony Boatswain then rose to reply to some of those unanswered questions.

He said government had guaranteed a loan to the developers from a lending institution in Miami Florida to the tune of EC $29.7 million. The Finance Minister disclosed that the guarantee was given for work on an 18 hole golf course, villa and hotel.

According to Boatswain, 80% of the funds have already been drawn down from the lending institution thus far. The minister was quick to point out that the state has a 50% shares in the investment and that if the developers do default, government will not be called upon first to repay the guarantee.