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Rahl and Rahl
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Joolzy



Joined: 06 Feb 2014
Posts: 3


Location: Orlando, Florida

PostPosted: Thu Feb 06, 2014 5:36 pm    Post subject: Rahl and Rahl  Reply with quote

I have this morning spoken with Tom at Rahl and Rahl who has ensured me that Brian will respond to my emails today with an update.  Apparently Patricia is on South Caicos with the hopes of getting the funds finalised for the airport.  Once this is apparently finalised then they will be ready to complete the development.  I will update as I hear any news
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Hazeley33



Joined: 15 Oct 2013
Posts: 5



PostPosted: Thu Feb 06, 2014 7:25 pm    Post subject: Caicos Beach Club Reply with quote

That's good news many thanks for the update! Would be great to see the resort completed but am grateful for any progress!
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Joolzy



Joined: 06 Feb 2014
Posts: 3


Location: Orlando, Florida

PostPosted: Thu Feb 06, 2014 7:31 pm    Post subject: Rahl and Rahl Reply with quote

I just have to say it is very stressful trying to talk to Brian at Rahl and my most recent conversation with Tom left me feeling very deflated as he was not the politest or very professional, Brian is due to call me within the next 30mins, if this doesn't happen I will be back on the phone again.... Im in a very persistant mood today Smile

I will attach a copy of the previous correspondence I received in Nov 2013

Dear Ms. Lewis,

I trust all is well with you.

As far as an update, the re-development of the International Airport on South Caicos has been one of the problems the Development Company has been dealing with.

Caicos Beach Club is opening with 490 One Bedroom Units to be operated as a Resort for rental.  This obviously requires International Commercial Jet Service.  As you are probably aware, both The Crown and The Turks and Caicos Island Government have a contractual obligation to deliver the airport.  Neither wants to spend the money (the real reason is they do not have the money to allocate to this project) and they have requested the Development Company to arrange financing for the airport.

    The loan to value for the airport is not high enough to lend itself to financing without Government Guarantee.  Government will not guarantee the loan as it would then reduce the borrowing capacity for The Turks and Caicos Islands as a whole, which is already over limit.  Therefore, Caicos Beach is forced to "lend" some of its equity to the Airport by "bundling" or adding the Airport Loan to the Caicos Beach financing; by doing this, the loan to value for the airport increases, Caicos Beach borrows the money and "internally" lends it to a separate company to redevelop the airport.  In this manner The Government is not liable for the loan and it does not impact the borrowing capacity of the Country as a whole, which is already over its legal limit.

     The Development Company is very close to closing a loan for the airport.  I thought that this would be done by now however Patricia is working on this loan every day.  This is an extremely complicated loan.

     The newly elected Turks and Caicos Island Government toured Caicos Beach Club in 2013.  The Premier, Deputy Premier and six Ministers toured the site and were very impressed with the quality of the pre-cast, pre-stress concrete construction and the amount of work completed on-site. Subsequent to their visit they have endorsed the development at meetings, on radio and also on television.

I look forward to having positive news on the airport funding shortly.

Best Regards,
Brian Rahl
Rahl and Rahl P.A.
954-426-6622
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Joolzy



Joined: 06 Feb 2014
Posts: 3


Location: Orlando, Florida

PostPosted: Thu Feb 06, 2014 9:03 pm    Post subject: Update 6th Fe 2014 Reply with quote

Phone conversation with Brian Rahl, he is hopeful that the loan will be signed off shortly for the development of the International Airport, this however will take 12months until operational and a further 6 months for completion.  Once the airport is operational (12 mths) the resort will complete within a 30 day period.

Brian has a greed that a monthly update is necessary as I pointed out how poor communication was.

He was apologetic with regards to not reply to my emails and I have expressed my disappointment in this ongoing saga, I am now trusting him to keep us appraised of the situation.  

Any emails I receive from him I will copy here to ensure everyone gets to read them.

Im starting to see a light at the end of this very long tunnel...
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viviennesybil



Joined: 19 Oct 2011
Posts: 19


Location: Nottingham UK

PostPosted: Thu Feb 06, 2014 10:14 pm    Post subject: Reply with quote

Well done Ms Lewis - and many thanks for communicating the information.  Anything positive is to be welcomed.
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Vivienne
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johng



Joined: 30 Sep 2009
Posts: 16



PostPosted: Fri Feb 07, 2014 1:11 am    Post subject: Reply with quote

Thanks for the update
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mbejunk



Joined: 17 Jun 2011
Posts: 5



PostPosted: Thu Mar 20, 2014 12:22 am    Post subject: Glad I purchased this when I was younger Reply with quote

Purchased in 2007,  I may live to see it's completion!
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YellowBird



Joined: 03 Oct 2009
Posts: 40



PostPosted: Wed Apr 16, 2014 12:40 am    Post subject: Reply with quote

I guess you never got any update from the rahls? Nothing but lies and deceit from this outfit.
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mbejunk



Joined: 17 Jun 2011
Posts: 5



PostPosted: Wed Apr 16, 2014 3:03 am    Post subject: Has anybody on this forum been to the site? Reply with quote

The pictures on the web site look encouraging but has anyone actually been there?

I have been tempted but time has been very tight for me over the past several years and getting there from Panama is not the easiest .
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Boycey



Joined: 30 Sep 2009
Posts: 2



PostPosted: Wed Apr 30, 2014 11:52 am    Post subject: site visit Reply with quote

Hi
I went to the Island early last year, it definatley exists.
We were treated very well and everything seemed to tally with the website, and what information we have.

There were people working on site, but they did say it was pointless doing to much too soon, with the airport issues. They said as soon as that is sorted they can then push forward on finishing.

It is just so frustrating that there always seems to be an obsticale to the site getting finished. the Hurricane damage, the corrupt government, the airport.

If this is a scan, it's a very elaborate one. How much do you throw at it finding out???

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