The government has earmarked EC$5 million from a recently concluded tax settlement with Sandals Resorts to fund the long-anticipated Renaissance Park development at Fort James, officials announced Thursday.
According to Antigua News Room, the funds form part of a broader EC$6.5 million settlement reached following negotiations between the government and the resort chain over outstanding tax obligations assessed by the Inland Revenue Department.
Director General of Communications Maurice Merchant confirmed the development during the weekly post-Cabinet briefing, noting that Cabinet was informed on Wednesday that negotiations had been successfully concluded. "That $5 million of that $6.5 million from the settlement will be allocated to commence the long-standing or the long-anticipated Renaissance Park development at Fort James," Merchant said.
The Fort James project is being promoted as a major recreational and tourism development for the historic coastal area. Merchant outlined plans that include a marina, amphitheater, pool and bar facilities, boutique hotel accommodations, Airbnb-style properties, and commercial retail spaces.
Cabinet welcomed the settlement, describing it as an amicable resolution that balances fiscal responsibility with maintaining strong relationships with major investors.
Surveys and preliminary assessments have already begun at the site, Merchant said, with the government expected to release official designs in the near future. Although officials did not provide a specific construction timeline, they indicated that preparatory work is underway and that the Fort James initiative remains a priority within the government's broader development agenda.
Merchant noted that the settlement was reached after government officials and Sandals reviewed the company's tax liabilities, exemptions, and contributions to national development before arriving at a final agreement.
The announcement forms part of the administration's wider push to advance tourism and urban renewal projects aimed at enhancing public spaces and generating new economic opportunities across the island.
