By JASMIN BONIMY, Guardian Staff Reporter, jasmin@nasguard.com

NEW BIGHT, CAT ISLAND: A proposed multi-million dollar golf and beach resort for Cat Island is expected to re-awaken the island's slumbering economy.

The government is soon expected to place its stamp of approval on the multi-phased project and construction could begin "in weeks".

At a town meeting held here on Thursday night to get residents' feedback on the project, it was announced that the development is being funded by Cat Island Partners Limited, a group of five investors — two of which are developers.

The proposed project will sit on 1,906 acres of land — adjacent to Fine Bay — that was purchased from the Bahamian government for $25 million.

Developers also said it is estimated that the first phase — which includes two miles of beachfront property, a 223-lot single and multi-family residential community, a 100 unit condominium hotel, a P.G.A. Golf Club and Village, along with a lowrise 200-room J.W. Marriot Hotel — will cost approximately $200 million. A boutique casino is also planned for the resort.

"We feel that we totally understand Cat Island," said CEO of Southworth Development, David Southworth, one the five investors. "Also, as a resort developer we think these things through and you see a lot of properties throughout the world. So we know how to put these things together and what will work.

"The Bahamas is a very known and famous destination," he continued. "Cat Island is not. It has fallen under the radar as far as big projects but we had this idea in our head of how we could make a great golf and beach resort."

The American developer added that the group of investors has "been trying to make this dream a reality for the past two years".

"We can now see the beginning of the next stage so we are very excited," explained Southworth. "When we first came here to Cat Island we were stunned by the beauty. I think the raw beauty of the site is breathtaking. We had a very warm reception from the Cat Islanders that we met and we fell in love with this island."

According to the developers, an economic impact study has indicated that during the construction phase, the project will secure 244 construction jobs. On the other hand, 937 full-time jobs are expected to be created when the resort is completed in approximately three years.

Prime Minister Hubert Ingraham was also on hand for Thursday night's town meeting, where hundreds of Cat Islanders packed the New Bight Primary School auditorium and spilled out onto the school grounds.

In an interview with the press Friday morning, Prime Minister Ingraham said: "I wanted to hear what [the Cat Island] residents had to say and that's why we came. We, generally speaking, do not want to approve any significant development on any of the Family Islands or Nassau without the broad support of the people."

The prime minister added that he believed the generally favorable response received at the town meeting had proven that most Cat Island residents supported the multi-million dollar project.

"We also had informal discussions with a number of Cat Islanders and we formed a view that they represented a broad cross section of the population," said Prime Minister Ingraham. "And I came personally here myself to see if they wanted this development. Now we go back to approve the development. We expect construction to start in a matter of weeks."

Meanwhile, as the prime minister prepared to approve the Cat Island development, he revealed that the investors would reap the benefits of recently launched tax concessions that he announced in his Budget communication in the House of Assembly.

"Anybody who invests in Cat Island can invest tax free," said Prime Minister Ingraham. "No customs duty, no stamp tax for building materials on Cat Island for the next five years, up until June 30, 2013.

"Be they foreigners or locals just come here and build. They don't need any permission from anybody — just have their supplies delivered here and build. That's one of the incentives we've provided to Cat Island and the other islands in the southern part of The Bahamas."

According to its website, Southworth Development LLC is a privately held company specializing in the development of residential resort and hospitality-branded real estate. Founded by David Southworth, Southworth's Development's expertise includes master-planned community development; asset management; golf course construction management; resort, hotel, golf, spa, fitness and country club management; and related sales and marketing services.

Current Southworth development projects include Meredith Bay, a 400-plus -acre residential development on Lake Winnipesaukee in New Hampshire; Machrihanish Dunes, an 18-hole David McLay Kidd oceanside links course alongside 150 residential units and two hotels in Machrihanish, Scotland; and the Coco Beach Golf & Country Club, a 1,000-plus -acre 36-hole oceanfront Tom Kite-designed golf facility in Rio Grande, Puerto Rico.