Housing debate sharpens as $34M infrastructure fund questioned
Finance chiefs confirm about $35 million sits in a developer-levy fund as PAC opens hearings on unanswered audit recommendations.
Housing dominated the domestic agenda. The Cayman Compass reported that finance chiefs confirmed around $35 million is held in an infrastructure fund collected from levies on developers, with the sum described as a "missed opportunity" to invest in housing. The Caymanian Times reported that the opposition People's Progressive Party has weighed into the housing debate following a critical Office of the Auditor General report, while the planning ministry is advancing amendments to the Development and Planning Act under the Public & Affordable Housing Policy and 10-Year Strategic Plan.
On public finance oversight, the Standing Public Accounts Committee holds public hearings today and tomorrow from 10am on the Auditor General's report summarising outstanding OAG and PAC recommendations, per the Caymanian Times. Cayman News Service framed the hearings as an examination of government's failure to respond to OAG reports. The Caymanian Times also reported that Attorney General Samuel Bulgin will retire in August 2027.
On immigration and constitutional matters, Cayman Independent reported that government and opposition have aligned on reforming the residency points system, with points for property ownership expected to be targeted next, and that Minister Kenneth Bryan has little confidence referendums will produce legislation on cannabis and lottery questions. A CNS letter writer called the rise in the one-time R41 residency certificate fee from $20,000 to $50,000 a mistake. Premier André Ebanks travels to Bermuda for the Overseas Territories Caribbean Caucus, Cayman Marl Road reported, ahead of November's Joint Ministerial Council.
In the private sector, PROVEN Bank named Sonja Salmon chief executive, replacing Stacy Belnavis, who stepped down in June, according to the Compass. Caribbean Utilities Company secured Investors in People Platinum accreditation in its 60th year, Doctors Hospital launched a two-year apprenticeship programme, and Eightpoint is backing local founders through Launch Labs. Three health reform Bills are out for public consultation.