The Commercial Center was scheduled to be renovated; however, no progress has been made in that regard. The building which is located downtown Belize City has become an eyesore. Mayor Darrell Bradley explained that the Belize City Council is eager to move ahead with this project, however, the only delay is the Minister of Finance, Dean Barrow, whose signature is needed to approve the loan.
Darrell Bradley – Mayor of Belize City
“We have the design in place for the building. We have engaged a supervising engineer. We have engaged contractors to do the building. We are just waiting for one component which is really the final approval for the Central Government in terms of that facility. Whenever the City council does anything including the municipal bond; any type of borrowing we can borrow as an independent entity but we need the approval of the Minister of Finance to do so. So that, he actually has to give us a letter saying that he gives approval for this. That is the only thing that we do not have. So that, the persons from Heritage Bank we have been discussing with them for the last two years. The contractor we have been discussing with them for the last two years.”
The Mayor said that it is a profitable, practical project since the plan includes renting the lower flat which would yield approximately fourteen thousand dollars for the month that can be used to repay the loan.