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Realtors - Page 22
BARBADOS
www.barbadospropertynews.com April - May 2015 Issue 98
Endorsed by theBarbados Estate Agents andValuers Association
Inc.
Barbados Green Monkey surveying the Golf Course at Apes Hill
Club - Page 26
Port St. Charles - Page 21
Property Holdings - Page 59
PROPERTYNEWS
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It seems as if it has been around for years, but we havent made
toomuch progress moving towards a green culture in Barbados.
Obviouslythere has been a lot of discussion in recent times about
renewableenergy and it will eventually be embraced in larger
numbers, but in themeantime so much could be done to improve the
environment with amore positive approach to healthier living and
protecting and conservingthe environment. We hope this edition of
Barbados Property News willheighten green culture awareness and
helpyou decide what you can do for yourself andthe world you live
in. It is not just aboutglobal warming, it is about changes
tolifestyle and simple and sensible practices
in our homes that can make us healthier and save money. Real
estate is starting to embrace a green culture with buildingand
conservation efficiencies in the home and this momentumwill
eventually become part of everyday living in Barbados. Wehave a
long way to go, but every step in the right direction is astep
forward.
Pamela HilesEditor
Editors CommentsPublisher Hiltop Publications Ltd,11 Cottage
Ridge, St George, Barbados,BB19071Tel (246) 228-9122, Fax (246)
228-0243Email:
sportingb@caribsurf.comwww.sportingbarbados.comwww.barbadospropertynews.comwww.caribbeanpropertymag.comwww.caribbeanmortgageservices.com
Editor/Advertising Pamela L Hiles
Design and Art Direction 809
Distribution Hiltop Publications Ltd,Brians Print Brokerage
Printing Coles Printery
The Material and editorial contained in thispublication have
been deemed accurate at thetime of going to print. The views
expressed aseditorial are those of the Editor unless
statedotherwise. No part of this publication may bereproduced
without the consent of thepermission of Hiltop Publications
Ltd.
On the Cover: Apes Hill Club
Pamela Hiles, Editor
If you would like to advertise in Barbados PropertyNews call Pam
at 228-9122 or 232-0692
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Photo courtesy Caribbean Aerial Photography
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It may have started with idealisticgoals to improve and preserve
theenvironment, but every year we getmore and more embraced into
agreen culture and it makes sense.For too long there has been a
hugedisconnect between the greenculture and everyday living,
largelybecause most people feel high
profile issues like global warming, conserving the rainforests
andprotecting the dwindling whale community are outside
theircontrol. But while these are highly commendable and
importantpursuits, the value of adopting a green culture in
everyday life isreal and very rewarding in terms of health,
improving theenvironment and saving money!The world has been slow
in going green, but the momentum is
gathering and while many counties will always lag years
behindthe rest, the major developed counties are rapidly growing
theirgreen culture and dragging the rest of the world along with
them.And the reasons are obvious-we want the world to be a better
placeto live, we want to be healthier and we want to reduce
thedependence on fossil fuels and reduce some of the everyday
coststhat impact so heavily on living costs and as a result on
ourlifestyle.A quick look across Barbados will confirm we have a
long way to
go to embrace a green culture. Right now we need to educatemore
and more people on its value and set the machinery in placeto
achieve realistic goals within a set timeframe. We need toeradicate
the toxic fumes emanating from so many vehicles onour roads, we
need to start some serious recycling of rubbish fromour homes, we
need to stop throwing rubbish everywhere, weneed to keep the
momentum going for solar heating and powergeneration, we need to
use more natural remedies and reduce thehuge dependence on
expensive pharmaceuticals, we need moreelectric cars, we need to
grow and eat more vegetables, we needto wage war on junk food, and
we need to build the concept ofgreen homes. This means more
properties need to be built with
a green culture and real estate agents need to understand
theimportance of this culture as more and more buyers in the
futurewill be looking for green attributes in any property they
wish topurchase. Is this an exaggeration? Certainly not, studies in
United States
have already produced statistics that confirm properties sold
withgreen attributes get higher prices than those without them
andthousands more new properties are being built every year with
aBuild it Green culture. There is even a mortgage company thatdeals
specifically in this market called Mortgage Green.Barbados has
started to move in the right direction especially in
the regeneration sector where many homeowners and
businessentrepreneurs are making plans to provide electricity for
thenational grid. This will help reduce the heavy dependence on
oil-generated power, which has crippled business and domestic
usersfor many years. The Government has also helped with
taxincentives to promote the trend, but the movement has beenmuch
too slow to mobilize and it seems the laidback easy-goingCaribbean
approach to change will ensure nothing happens toosoon.
Unfortunately going green comes at a cost, but in many cases
the payback is considerable. We have an abundance of sunshineso
using PV panels to capture renewable energy and sell thesurplus to
the national grid seems a win-win scenario for everyone.We should
also practice energy conservation, which is somethingfew people
seem to believe affects them. Thankfully we dont haveto worry about
insulation in the home, but we could and shouldinsist on using more
green materials, less real timber, non toxicpaint, recycling waste
water and rain water for garden use,recycling rubbish, using
long-life electric bulbs, and growing morefruit and vegetables in
our gardens. Adopting a green culture will produce a healthier
environment
and as a result healthier people. If long-term we can save
moneyin the process that should make it even better. Despite the
manychallenges we need to push for a greener Barbados and
stopprocrastinating and playing with the issues.
The Rise of the Green Culture
Finance
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Call or visit any of our RBC Royal Bank branches today!
Go Green for less withRBC Green Energy Financing!
RBC makes a Green Financing loan for your home more affordable
with savings of up to $900 per year on your loan payment.
Get:
> Low fixed interest rate> Up to 6 years to repay> 100%
Financing> Home Equity loans also available (up to 30 years to
repay)> Plus, tax savings up to $10,000 per year for 5
years**
** Terms & conditions of the tax savings are based on the
Income Tax Act, Cap. 73* Based on a fully unsecured loan of $35,000
over 6 years at RBC versus 5 and 6 years at other competitor
banks
Subject to normal lending criteria. Special conditions apply The
cost of borrowing will be made available upon application
/ Trademark(s) of Royal Bank of Canada. Used under licence.
Main Branch467-4000
Chelston Park431-6600
Sunset Crest419-8510
Hastings431-6650
Six Roads416-8544
University Drive417-1700
Private Banking Centre431-6500
OTHER BANKSShort you out on cash with payments
of up to $677 per month*
RBC ROYAL BANKPowers you up on savings, with
payments of approx. $600 per month*
of up to $677 per month*Short you out on cash with payments
reGoG
of up to $677 per month*Short you out on cash with payments
OTHER BANKS
ess lorr f fornere
payments of approx. $600 per month*Short you out on cash with
payments
hwitess
payments of approx. $600 per month*Powers you up on savings,
with
RBC ROYAL BANK
payments of approx. $600 per month*Powers you up on savings,
with
RBC ROYAL BANK
eneGrCBRreGoG
Financingrgyen Eeness lorr l f fornere
!Financinghwitess
Call or visit any of our RBC Royal Bank branches today!
467-4000Main Branch
Call or visit any of our RBC Royal Bank branches today!
419-8510Sunset Crest
431-6600Chelston Park
Call or visit any of our RBC Royal Bank branches today!
416-8544Six Roads
431-6650HastingsSunset Crest
431-6500Private Banking Centre
417-1700University Drive
416-8544Six Roads
431-6500Private Banking Centre
/ Trademark(s) of Royal Bank of Canada. Used under licence.
Subject to normal lending criteria. Special conditions apply
* Based on a fully unsecured loan of $35,000 over 6 years at RBC
versus 5 and 6 years at other competitor banks** Terms &
conditions of the tax savings are based on the Income Tax Act, Cap.
73
/ Trademark(s) of Royal Bank of Canada. Used under licence.
Subject to normal lending criteria. Special conditions apply
* Based on a fully unsecured loan of $35,000 over 6 years at RBC
versus 5 and 6 years at other competitor banks** Terms &
conditions of the tax savings are based on the Income Tax Act, Cap.
73
* Based on a fully unsecured loan of $35,000 over 6 years at RBC
versus 5 and 6 years at other competitor banks** Terms &
conditions of the tax savings are based on the Income Tax Act, Cap.
73
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47
Green
Of all the brilliant colours we enjoy in the Caribbean, the
onegrowing most in importance is green.
From governments to businesses to homeowners, we arebecoming
increasingly conscious of environmental concerns, theneed to live
sustainably.
Moreover, Caribbean people are recognizing the benefitsswitching
to alternative energy in islands such as ours where sunand wind are
abundant.
Governments are exploring alternative energy options
andencouraging investment in the sector by offering
attractiveincentives. Meanwhile businesses are expanding into
creatingand selling affordable, renewable energy products and
services.
Home and business owners have been taking advantage ofthe
increasing range of more affordable eco-friendly products bygoing
green in as many ways as possible, such as installingenergy saving
light bulbs, solar panels, solar-powered air-conditioning units and
low-flow toilets.
Scotiabank is a leader of the green movement, enhancing
itsgrowth with the Green mortgage program - facilitating
increasingnumbers of mortgage customers incorporating green
initiativesin home renovation plans. Our Green mortgage program
letscustomers combine their environmentally-friendly
homeimprovement with their mortgage for greater savings and
agreener home, says Carolann Walkes, Scotiabanks Mortgage
Specialist. Persons who have their mortgages with anotherbank
can even switch their mortgage to get these benefits.Scotiabank
will pay the switching costs so the benefits are greatfor the
customer.
With a Green mortgage, customers may be able to amortizemortgage
payments for up to 30 years and thus have moremoney available. The
equity in their home gives customersaccess to funds to make
energy-saving improvements thatreduce bills and save money. Rolling
green home improvementinto your mortgage has the least impact on
cash flow, saysWalkes. Imagine the advantages of reducing or
eliminatingyour electric bill with a solar installation, at low
mortgage rateswith a long-term amortization.
Scotiabank is committed to the Green movement, said LisaCole,
Senior Marketing Manager. For the past couple of years,our mortgage
seminars and expos have included partners whooffer environmental
solutions. We also reach out witheducational projects like the
Childrens Environmental Artcontest which we sponsor annually
through the Future CentreTrust. The Scotiabank Green mortgage is an
excellent way to helpour customers save money and make their
contribution to amore sustainable environment.
Cole also pointed out that customers can find suggestions onhow
to make eco-friendly home renovations and improvementson
Scotiabanks Eco Living website, ecoliving.scotiabank.com
The Green Movement isGrowing with Scotiabank
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What is the background toWilliams Solar and what servicesdo you
offer?
Williams Solar (formerly WilliamseverGreen Ltd) is a
WilliamsIndustries Inc (WII) subsidiarystarted in 2009 as an
energymanagement company researchingvarious technologies
(in-house)
that could be applied to commercial/industrial equipment
toimprove efficiency. These projects included a 30kW
photovoltaicsystem which was monitored for performance and
associatedfinancial savings, after 9 months of surpassed
expectations wedecided to go full blown and install the largest
distributed solarplant on the island to date.
Primarily we design, supply, install quality
high-endphotovoltaic systems for residential and commercial
clients. Wealso sell solar panels and equipment for those want to
purchasethe main components of the system and install
themselves.
What have been your major renewable energy projects to date?In
2012 we installed 1.6 Megawatts of photovoltaics on twelve
commercial properties owned by WII, and everyday this
systemproduces enough electricity to power over 300 mid-sized
houses.The installations have been very reliable and productive
andcontinue to exceed our expectations. We now share theknowledge
and expertise gained from this project with ourcustomers to
guarantee that they are as satisfied with theirinvestment as we
are.
In 2014 WS was awarded a contract to install PV systems on25
residences and 3 schools under the Barbados SustainableEnergy
Framework program working along with internationallyrenown energy
consultancy agents TetraTech, this project wasthe first of its kind
in Barbados.
How has Williams Solar contributed to building a green culturein
Barbados?
In 2013 we joined the Green Business Barbados program(highly
recommended) to ensure that our complete operationwas monitored and
controlled to facilitate environmentallyfriendly practices. For
example, we have a no idling vehiclepolicy, recycling of material
and using those funds to purchaseoffice consumables, a 32kW
photovoltaic system to eliminateour electricity bill etc. Currently
we are pursuing the highest levelof the Green Business Barbados
program and we are on targetto achieve this shortly.
A partnership with WS, SJPP and BCC was recently awardednearly
$800K from the Competency Based Training Fund(provided by IDB) for
curriculum development and infrastructure
in the renewable energy sector, also we served on a
technicalcommittee at SJPP to create the first PV course on island
whichstarted in February. We have donated equipment to UWI
tosupport research at the Renewable Energy Lab in Cave Hill andalso
SJPP for hands-on training of students of the newly offeredPV
course. We are currently working with the TVET council
fordevelopment of NVQ and CVQ qualifications in PV installations.We
will continue to support education as a contribution to theindustry
and culture.
We read a lot about photovoltaic systems that may be set up
inthe future. Who will control this development?
The rollout and success of renewable energy in Barbados is
asynergy between the Government, the utility, the Fair
TradingCommission, Barbados Renewable Energy Association
(BREA),Town Planning Dept and the developers/customers. To
achievethe Renewable Energy targets set by Government and
beyond,and speaking very generally, this group must work together
totweak, improve and maintain favourable conditions for all
partiesinvolved in the development of this sector. The
primarycontroller of Renewable Energy development is the
Government.
Is there a possibility of oversupply if hundreds of properties
andcommercial PV suppliers are feeding into a National Grid?
That is a technical question with a very expansive
answer.However, in a nutshell the aim is to become 100%
renewableand this has to be a mix of RE technologies, hence there
is a finiteamount of PV needed to achieve this target. Therefore if
solaris going to be your choice of energy independence act now!
A lot of publicity has been given to potential savings on
monthlyelectricity bills. What are the true facts?
There is no doubt that installing a solar system will reduceyour
electricity bill. However, how much savings you accomplishis very
dependent on the rate at which you are paid for theelectricity you
generate from your solar system. We have anissue there but it can
be solved.
The current supplier depends heavily on oil-based
powergeneration, but prices are low at present because oil prices
arelow. Does this make it more difficult to sell renewable
energysystems to domestic users?
Yes, potential customers are being distracted by the
temporarylow price of electricity. However, investing in a solar
system is a25yr investment that still attracts a high rate of
return oninvestment compared to other options. The industry
hasslowed, but many customers are still forging ahead to gain
theirenergy independence regardless and they see the
currentsituation as an illusion rather than a saviour.
Building a Green CultureDavid Green of Williams Solar outlines
whats happening in Barbadosand the role his company is playing in
building a green culture
48
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Green
Does Williams Solar guarantee results from their
installationsand do you monitor performance?
We are unique by offering guaranteed energy outputs for allthe
systems we install. Our team takes performance seriously,our design
capability and equipment selection is second to none,and our aim to
maximise the potential of any location.Yes, we monitor performance
via the Internet if available, alsowe provide free maintenance in
the first year of ownership andthis allows us to understand the
long-term upkeep needed tomaintain the system performance as
designed.
Many properties are different. Does your staff have
thequalifications to design and install on different types of
roof?
Yes, our staff and the expertise of the supporting companiesin
the WII Group can design and install on any type of roof orcreate
any kind of structure necessary for the installation of a PVsystem.
We design our roofing mounted racking systems usingmethods and
materials certified for 130mph wind loads asrecommended for the
Caribbean. We invested heavily in trainingour staff on solar
design, installation and equipment going asfar as Germany for
knowledge.
Are there finance packages available to domestic andcommercial
clients to fund the installations?
Certainly, commercial banks and other lending institutionshave
come onboard to provide loans specifically catered for
REinvestments. The Smart Fund scheme managed by theEnterprise
Growth Fund finances businesses in energy efficiencyand RE at very
low interest rates. Also, the Central Bank hascreated a facility
where they can act as guarantor to certain loans.So there are
definitely finance options for anyone interested ingoing solar plus
some Government tax concessions.
BIO: David Green, graduated from Sheffield Hallam University,UK
with a Bachelors Degree in Mechanical and ManufacturingEngineering.
Upon return to Barbados he spent 10 years as aproject engineer in
the construction sector working on projectssuch as the Four
Seasons, Barbados Hilton, US Embassy,Courtyard by Marriott and
Sandy Lane recapitalisation project.
Presently General Manager at Williams Solar responsible
forbusiness development, sales and marketing, he is also a
boardmember of the Barbados Renewable Energy Association
(BREA),member of the Barbados Chamber of Commerce (BCCI)
GreenCommittee and technical committees for SJPP, BCC and
TVETCouncil for the formulation of photovoltaic curriculum
andcourses at the tertiary level.
David can be contacted by telephone at 246 425 2000 or byemail
at [email protected] details can be obtained from the
websitewww.williamssolar.com
49
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LEDs are fast replacing incandescent bulbs all overthe world.
Reasons for this include:
1. No Heat: LEDs produce little or no heat compared
toincandescent bulbs. This means there is a reduced risk
ofaccidental burns or fires, as well as not overheating
anenvironment which can cause discomfort. This is of concern
notjust in warmer climates, but also when incandescent lights
areused in a public venue such as a bar or theatre.
2. Solid: Because LEDs are made from a solid material, they
aremuch more durable than incandescent bulbs. Dropping orbashing an
LED by accident is not as big a risk as it is with anincandescent
light which will smash, rendering it inoperable anddangerous due to
broken glass.
3. Savings: LEDs last much longer than their
incandescentcounterparts. A standard incandescent bulb will last
for amaximum of 1500 hours while an LED can last for up to
60,000!
This means far fewer changes, which means lower
maintenancecosts. In the past LEDs were much more expensive, but
nowtheir initial cost completely justifies the savings which can
bemade in the long term.
4.Energy: Most LEDs consume only a fraction of the
electricitythat an incandescent bulb does. This means far lower
energybills. This is especially important for larger properties
which canamass huge monthly bills. LEDs cut costs significantly in
thelong term.
5. Environment: Due to lower power consumption, LEDs arebetter
for the environment, contributing less to climate change.We at
Marshall Trading Limited not only just supply LED bulbsbut, we have
the training and the knowledge to help in theselection of the
correct LED light type and colour temperature (CCT) required for
your home or business. We also source LEDsshould you require
something special !
The Advantages of LEDsOver Incandescent Lights
Green
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53
Trowel Plastics is a family business with a 49 year history.
Weknow how important it is to be socially conscious for both
thegrowth of our company and value we bring our lifetimecustomers
as we all share the same living environment inBarbados. Daily we
map this engagement through continuous efforts tomanufacture and
promote only water-based environmentallyfriendly products that work
in harmony with our ecologicalsystem.
Our core product Trowel Plastics is formulated to help keephomes
cool thus providing energy savings. Our product TrowelPlastic is
already known for its amazing qualities such as theability to be
applied to any surface, and last for what seems likeforever. But
only a few know of Trowel Plastics energy savingsfeature. Trowel
Plastics has been developed with careful and wellresearched
processes to contain a maximum percentage of theultra violet rays
from conducting heat emissions to the surface.This results in
energy savings where mechanical cooling isneeded to restore comfort
to areas. The end result is dualcooling and savings.
Trowel Plastics is known for its amazing covering, which is
notonly available in natural or off white but also in a myriad
ofrecommended inorganic and stable hues of greens, blues,yellows,
oranges and reds can be manufactured to deliver thatfinal cosmetic
look and charm to the area being claddedinternally or externally.
The versatility of our offering takescustomers well beyond thermal
protection and colour resilience.
Trowel Plastics gives careful consideration to all its
productofferings. Although the Trowel Plastics finish is long
lasting itdoes require surface maintenance whether that be by using
ourBrushing Solutions colour or through our Concrete
MasonryCleaner. The Concrete Masonry cleaner is formulated to
removedirt, mildew, mold and grime from external surface areas to
bringback the surface to its original state.
This product too is environmentally friendly and will not
harmplants or animals.
With a lifetime commitment to Barbados we are proud to beable to
service Barbados and the Caribbean region with locallymade products
that surpass that of international brandsassisting customers in
reducing energy costs
Keeping Things Cool Green
Imagine an organisation with avision to inspire, inform,
create,connect, support and empower!
That is what Be the ChangeBarbados (BTCB) is all about. It isan
active, non-profit, volunteer-run organisation committed
todeveloping partnerships withgroups such as Slow Food, RawFood and
the CaribbeanPermaculture Institute to bring
healthy, local food to our tablesBTCBs quarterly Evolve Meetings
have introduced and
informed both current volunteers and the general public
aboutSaving our Coral Reefs, Energy Saving - Electric Cars,
TheBarbados Trailway, Newton Burial Ground and Diabetes: ItsImpact
on Health and the Economy. BTCB also regularly hostsworkshops
covering topics such as composting and permaculturewhile its field
trips to farms and picnics at farmers markets havebrought increased
awareness to the islands organic growers.
The recently held Multi-National Fair Goes Green has beenthe
largest undertaking by BTCB to date. With over 200 vendorsand 4,000
patrons at its Four Square Heritage Park location, theFair featured
eight (8) centers of sustainability in Arts andEntertainment,
Business and Entrepreneurship, Children and
Development, Community Service, Recycling, Sports and
Fitness,Health and Spirituality, and Food and Agriculture.
BTCBs Heart Initiative focuses on creating the critical mass
forchange through meditation, visualising a positive change
andcreating a self-fulfilling prophecy for peace, happiness,
andproductivity. This joins the vision of prominent scientists
whobelieve that if one per cent of the square root of the
population ofa country begins to make a shift, everyone will begin
to change.
In addition to environmental sustainability, BTCB engages
withthe combined womens organisations, focusing on the privilegeof
volunteer service. It is also focused on education,
supportingafter-school reading clubs in 8 schools, anti-bullying
programmes,as well as the development of school gardens.
Be the Change Barbados was founded by a small group
ofcommunity-minded individuals in early 2012, in association
withthe Be the Change Initiative in the UK and Pachamama Alliance a
global community offering help to indigenous people for
asustainable future.
There is something for everyone in Be the Change Barbados.Join
the movement and LETS ALL GO GREEN TOGETHER!
For more information or to get involved visit our
websitewww.bethechangebarbados.org or Like us on Facebook
atwww.facebook.com/bethechangebarbados.
Be The Change Barbados:Inspired to Connect, Empowered to make a
Difference
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54
When approaching the task ofbuilding a house owners will befaced
with an array of questionsabout what they want, need andcan afford.
This can be a verydifficult time when many of ourdecisions are
based on the advicethat we get from those we havehired.
We need architects, contractors and suppliers to help lead
theway towards a sustainable Barbados. If we would like to be
aworld leader in sustainability it will take a shift in our
currentmethods of purchasing and we must look at purchasing
onquality and longevity over price. Building a house takes a lot
ofresources and energy so we must look at making our use ofthese
resources more efficient. Every house on the island shouldbe
developed with a large enough south facing roof so that inthe
future panels may be added, we need to start designing withthe
future in mind
We also need to create houses and landscapes that reduce
oureveryday carbon foot print and consumption. By creating all
ourhousehold electricity, water and food one can now have
theopportunity to live in balance with nature. This lifestyle
also
reduces waste, imagine an island that produced its ownrenewable
energy, grew all its own organic fruits and vegetables?Imagine all
our cars were electric and powered throughrenewables? What if we
could create the worlds first zero wastecountry?
Integrating food into the landscape is a great, low cost way
tointegrate sustainability into your every day routine. We have
beenliving surrounded by organic goodies from our gardens for
yearsnow. Its an amazing way to eat healthy and save lots of
money.After a long day of work I remember the days of getting
homeand having nothing in the fridge but now I just have to
gooutside. My yard has become my supermarket and thesupermarket has
become where I go for my dog food.
When we reduce our food import bill, reduce our fuel importbill
and reduce our waste as individual, households then we startto
change as an island. I know the potential of what can
beaccomplished on this island, we have a bright and
motivatedpopulation and with the right leadership and guidance we
canevolve and become a socially, environmentally and
financiallywealthy nation. If you dont know where to start and you
wouldlike to find out more check out ecostructure, Foodscape
andArchers Organics on facebook, we are a free source ofinformation
and want to help you in any way possible.
Ecostructure: Buildingfor a sustainable Barbadosby Fraser
Young
Green
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57
An amazing artistic work andpowerful poster forenvironmental
preservation wasrecently unveiled at Warrens, St.Michael.The
eye-catching environmental
wall mosaic, the brainchild andlabour of love of mother-sonteam
of Goldie and David Spielerof Earthworks Pottery, has fastbecome a
drawing card for locals
and a must-stop for taxis and tour bus operators traversing
thearea which is also home to the majestic African Baobab,
thelargest and one of the oldest trees on the island.
David, lead artist on the project and a director with the
FutureCentre Trust (FCT) took the idea for the mural to CIBC
FirstCaribbean International Bank which agreed to partner with
theFCT to fund the project through its Comtrust Foundation.
The transformation of the 4500 square feet of front walloutside
the banks corporate headquarters at Warrens, St.Michael into an
educational and eye-catching mosaic aimed atcalling attention to
the need to preserve the natural environment,commenced in July last
year.
Ten months later, and with over 150 000 pieces of tilescarefully
laid in place by Tilers Dwayne Goddard and Troy Young- who were
happily assisted along the way by students and
teachers from The Lester Vaughan School and Queens Collegeas
well as members of the banks senior executive team andmembers of
staff - one of the largest murals in the Caribbeanwas finally
completed and official unveiled by the banks ChiefExecutive Officer
Rik Parkhill during an evening ceremony onApril 18th, 2015.
The mural depicts the local ecosystem and the importance
ofpreserving it. It starts with the marine environment with
vibrantimages of colourful fish, the beach and sea turtles and
thenmoves inland to show the beautiful and delicate flora and
faunaof the island. It highlights a typical village (complete with
rumshop) and culminates in a return to the sea side with
fishingboats bobbing serenely in aquamarine waters.
Mr. Parkhill said the mural project was an excellenteducational
opportunity to promote awareness of the need toact in ways which
will not further endanger our water supply, ourpristine beaches and
coastline or lead to further loss of our lastremaining woods and
forests.
He said he hoped that the project would remind Barbadiansof the
importance of taking care of the space we all share as ourhome and
see the need to leave it in a better shape for thosewho come after
us.
For more information about CIBC FirstCaribbean,
visitwww.cibcfcib.com
Environmental Mosaic Launched Green
Top Left: CIBC FirstCaribbeans Managing Director, Retail,
Business and International Banking, Mark St. Hill joined with
students and teachers fromthe Lester Vaughan School in affixing
tiles on the wall when the school visited in November 2014.Above:
Tilers Dwayne Goddard and Troy Young
- 78'2567:,/'(
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59
Sargassum seaweed is a brownalga that originates in theSargasso
Sea located in theNorth Atlantic Ocean or theNorthern Gulf of
Mexico. It hasbeen washing upon our shoresin considerable amounts
sinceMay of 2011 and has been a greatcause for concern.
Professionalsin the relevant sectors have beenfocusing their
attention on
resolving this issue. There have been many beach clean-ups
byboth public and private sector entities in an effort to assist
withthis phenomenon.
Superintendent of Apes Hill Club, Mr. Ed Paskins did
someconsiderable research on this seaweed and found it was a
richsource of nutrients, trace elements and growth
promotinghormones. When converted into a liquid fertilizer seaweed
wassaid to be far superior to chemical fertilizer because of its
highorganic matter which aids in retaining moisture and minerals
inthe upper soil level. It was also found to induce resistance
tofungi and pests as well as increase the nutrient uptake from
thesoil.
Along with the seaweed, molasses has also been incorporatedinto
our fertilizing regime. Molasses is a byproduct of sugar caneand is
a good source of energy for various forms of microbesand soil life
by stimulating the growth of beneficial microorganisms. It is a
good source of potash, sulfur, iron and micronutrients. It is an
excellent chelating agent, which means it canhelp convert some
chemical nutrients into a form that is easilyavailable for
organisms and plant use.
After just a few weeks the benefits of their use can be seen
onour lusciously green tees, greens and fairways. The
sargassumseaweed will also be utilized at our grass and plant
nurserylocated at Bright Hall, St. Lucy. The seaweed will be
dried,desalinated and mixed with chicken and horse manure
andcomposted.
Apes Hill Club was certified as an Audubon CooperativeSanctuary
in 2010 and to this day we strive to be an eco-friendlygolf course
by ensuring our everyday practices are a reflection ofsuch. The
sargassum seaweed has been a problem that we haveconverted to
profit. The use of the seaweed as well as themolasses which are
both natural will certainly ensure that we areliving up to our
status of an eco-friendly golf course.
GreenApes Hill ClubUtilising the Sargassum seaweed
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60
INSURANCE!Seldom is the term heardthat it isnt accompanied by a
rolling ofthe eyes and classic Bajan stupse .Recently there have
been a number of
cynical letters to the editor aboutinsurance, prompted in part
by an equallycynical column by Mavis Beckles, in aleading daily
newspaper.
Admittedly, there have been atleast two insurers in the recent
past thathave carved their names on historys
pages in Barbados, though not necessarilyin the way that one
might want to be
remembered, so the cynicism may not be entirely out of
place.Throughout all this, however, the industry continues to roll
along as a
quiet but essential part of commerce. It may be difficult for
Joe Public to comprehend that few transactions in
the world of business can proceed without the involvement of
insuranceand it is unlikely that anyone involved in our society can
go through theirlifetime without being involved with several forms
of insurance at some pointor other car business, home, life,
travel, medical It is the most effective,universally applicable,
risk management tool that has been devised.
The industrys principal failing, in our humble opinion, has
always beenits seeming unwillingness to stand up and defend itself.
To really make thepoint to society that, on the whole, insurance is
the skeleton on whicheconomic activity hangs and is able to
flourish. Insurance stabilizes thebusiness environment by
effectively holding external risks at bay.
There are things that traditional insurance was not designed to
protect
against, like business risk businesses may still prosper or fail
dependingon the strength of their leadership and the soundness of
their business plan- but by exchanging a small known loss (the
premium you pay) and oftenthe acceptance of a small probability of
loss (the deductible, or excess) thebusinessman or the individual
is able to realize their dreams without havingto consider the
possibility of being irrecoverably wiped out by hurricane,
fire,tsunami or those other contingencies that are beyond the
control of mortalman.
The arrangement with an insurance company forms the basis of a
legallybinding contract that may be upheld in a court of law. It is
important thatthe purchaser read and understand the terms of their
insurance policy. Aninsurance policy is not meant to cover
everything. It is important tounderstand what is covered and WHAT
IS NOT. The broker or the insurershould review the contract with
the purchaser. The purchaser should becomfortable that it provides
the cover that is needed.
Not all Insurance companies are created equal. The purchaser
should askaround. Who has the best rates? The best service? Which
insurers have areputation for prompt settlement of claims? Ask
about service standards.
Does the insurance company carry a favourable A M Best Rating? A
MBest is an independent international rating agency with no
affiliations.The cost of home, car or business insurance has been
steadily reducing forthe last several years. Insurance in Barbados
is generally less costly than atanytime this century! Insurance
cannot prevent the fire but can provide the funds to
rebuild.Insurance cannot undo the injuries or illness but can pay
for treatment andrecovery.Insurance cannot eliminate the legal
consequences of negligence but canprotect from its monetary
consequences.
The Truth About Insurance
Richard Ince
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BENEFITS:BENEFITS:
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66
BEAVA NewsReal Estate News
BEAVA Members Get Advance Training inResidential Valuations It
is safe to say that each presenter had the rapt attention of the
audience as topic aftertopic proved thought-provoking and
invaluable during BEAVAs second installment in aseries of
educational modules, which got underway last November and continues
thisyear. The workshop, held recently at Barbados Yacht Club was on
Residential Valuation formembers of the association. This session
was very exciting and signalled the continuationof a fantastic
partnership between BEAVA and CIBC First Caribbean who has
generouslyoffered to sponsor each of the workshops for 2015, slated
for every other month. Gregory Blackman, Manager, Sales and
Business Development for CIBC FirstCaribbean who was accompanied by
his colleagues Sheldine Pinder and Jerome Gittens,offered BEAVA
members an exclusive financial package for potential clients who
wish topurchase property. Details of this package can be found on
BEAVAs facebook page.Sheldine and Jerome briefed members and other
real estate practitioners present on thebanks platinum services and
mortgage and land loan terms respectively. The highlight of the
afternoon was the featured presentation by Tania Wallace,
aprofessional appraiser and Director of Finance and Business
Development for UNNALuxury Resorts and Residences. Her discussion
enabled members with the tools to betterunderstand the valuation
profession and effectively execute the valuation methodology,as it
relates to appraising residential real estate. In between questions
from keen participants, Tania also guided them on what theminimum
contents in a valuation should be and on what agents should look
for and beaware of when reading valuation reports. To understand
what it means to value a property we have to understand the
differencebetween market value, price and cost, she told them,
ensuring participants walked awaywith a strong understanding of
what value means and what factors affect value. Plans are being
made for the second CIBC First Caribbean-sponsored sessionscheduled
for May 22 which speaks to a very simple term: Real Estate Part A.
Stay tuned to our facebook page for updates and details closer to
the date, or you canregister early by sending an email to
[email protected].
Above: Tania Wallace, featured presenter atBEAVA workshop.
The second CIBC FirstCaribbean-sponsoredsession is scheduledfor
May 22
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68
Regional real estate firm, TerraCaribbean has announced
therelease of the eighth annual editionof The Red Book.
Thiscomprehensive property guideprovides readers with a
data-drivenoverview of whats happening inthe Barbados real estate
market.
Last year, the InternationalMonetary Fund in its August
report
relating to tax reform in Barbados, referred to The Red Book
asan important publication and quoted from some of the data inthe
2014 edition, revealed Chief Executive of Terra Caribbean,Andrew
Mallalieu. Certainly, this must be someacknowledgement that our
goal to be a source of information onreal estate matters, has
significant credibility.
Senior Marketing Coordinator, Gemma Holder, explained:Each year
we have been able to present the current andupcoming real estate
products in an easy-to-use guide, but thisyear we have made several
changes to improve on thepresentation and provide our readers with
an even moresystematic guide to real estate. The Red Book is now
arrangedinto distinct property sections across three respective
locationsand ordered according to price. We have further enhanced
thepublication with even more data and bigger, brighter
images,especially in our expanded luxury sectionby our sister
company Bajan Services |Knight Frank, which showcases some ofthe
finest homes available for sale inBarbados.
The informative Pink Pages sectionfeatures articles from
knowledgeableand experienced professionals in thesector as well as
members of the TerraCaribbean team. Our Knowledge teamhas again
developed some insightfulreports that have helped us to
betterunderstand trends in the market.
In this edition, we have released aninformative Barbados
BeachfrontCondo Price Index (BCPI). The data forthis index was
formulated from ourproprietary database, explainedMallalieu.
The BCPI aims to provide insight intothis key segment of the
Barbados realestate market, explained GroupKnowledge Manager, Tarik
Browne.
Terra releases EighthAnnual Edition ofThe Red Book
Real Estate News
Chief Operating Officer Hayden Huttons analysis inPlantations
101 A Brief History in the Pink Pages, offers abrief commentary on
the change in plantation acreage on theisland in the 101 years
since 1913. Readers will also learn thatrenewable energy in
Barbados is older technology than we thinkin David Staples article,
while Richard Gill sheds some light inTown Planning Thoughts on
Policy and Control.
Our feature article this year highlights a new dimension inthe
real estate market. We interviewed Mark Maloney of BushyPark
Circuit Inc., said Mallalieu. Maloney reveals the history andvision
for the future of the new Bushy Park Circuit and tiestogether
world-class sports, sports tourism and real estatedevelopment.
I hope you will find that this years edition is again true to
ourmission to ensure that our clients feel comfortable and
confidentto make informed real estate decisions, affirmed
Mallalieu.
About Terra CaribbeanTerra Caribbean is a fully integrated real
estate services firm
providing sales, rentals, property management and
advisoryservices with subsidiaries Bajan Services Limited -
LuxuryProperty Professionals and Blue Sky Luxury The Holiday
HomeExperts.
For more information visit www.terracaribbean.com
-
FINAL PHASE ONLY FIVE UNITS LEFTPRICES STARTING AT
BDS$425,000
VISIT
OUR N
EW
WEBSITE FO
R
MORE DE
TAILS
AND
A COPY O
F OUR
ELECTRON
IC BROCHURE
www.carters-grove.com
Land/Construction detached single storey homes 1,200 sq ft
three-bedroom design Small community of 15 units in quiet
cul-de-sac Plot sizes approx 4,000-4,500 sq ft. First Phase of 10
units completed and occupied Located just off Enterprise Road a few
minutes drive from Oistins Up to 100% mortgage facilities
available
FOR MORE [email protected]
Tel- 230 9215Or visit website- www.carters-grove.com