In the publication, Forgotten Dreams: A people’s desire to chart their own course in Abaco, Bahamas Page 19, I put it this way:
“One of the movement’s key proposals was the placement of all 300,000 acres of Crown land on Abaco in a land trust drawn up by “internationally respected economists”. At the time, Abaco’s Crown land was said to be valued at $60 million. In addition to home lots, citizens were to receive shares in the trust, whose income would be derived from land leases and sales.
“In addition to this revenue, “a free economic climate will attract businesses, providing high-paying jobs,” AIM said. The plan called for a balance between nature preserves, recreational, farming, commercial and industrial areas, as well as traditional real estate developments.
“To avoid “the threat of land expropriation” the trust was to provide a registered voter share issue that could not be transferred to non-Abaconians. And each Abaconian would receive a land entitlement deed for one-acre home lots.
“Estimates at the time suggested that by leasing 137,000 acres of the 300,000 acres of Crown Land to developers, the yearly income could have amounted to $55 million.”
Is it too late?
Read Forgotten Dreams (pdf) here… The Abaco Independence Movement had some very interesting ideas on governance that are worth reconsidering.
