Payment of compensation to property owners in the construction of a new terminal and associated works
The Minister of Finance, the Honourable Colm Imbert, MP, in conjunction with the Honourable Chief Secretary and Secretary of Tourism, Culture and Transportation of the Tobago House of Assembly, Assemblyman Ancil Dennis, wishes to advise that approval has been granted for the payment of compensation to the first twenty-nine (29) property owners in Tobago, whose properties are being acquired for the construction of a new Airport Terminal and associated Works at the ANR Robinson International Airport in Crown Point.
This first batch of land and property acquisitions will cost approximately forty-one million dollars ($41,000,000). The funding for this land acquisition has been raised by the Ministry of Finance.
The aforementioned sum will be utilized to compensate property owners who have completed the land acquisition process by way of negotiation and settlement with the State. Payments of compensation will commence on Friday June 12, 2020, and will be made by the National Infrastructure Development Company Limited (NIDCO), on behalf of the State.
This first wave of compensation, represents 5.33 acres of the 53 acres of land required for the construction of the new terminal and includes one (1) commercial, four (4) residential and two (2) mixed (home business) properties.
Property owners are being contacted by ACQ and Associates, the Land Acquisition Consultant undertaking the process on behalf of the State, for the execution of legal indemnity agreements and collection of payments. The State will enter and take possession of settled empty lands as soon as compensation is paid.
Property owners who are yet to commence the negotiation and settlement process are encouraged to contact ACQ and Associates at (868) 723-7475 / 342-8086 to make appointments for negotiation meetings.