Prime Minister Philip J. Pierre says money promised to vendors displaced by the redevelopment of the Castries Vendors Arcade is already available, but payments cannot begin until government finalises how the funds will be distributed.
Pierre sought to reassure affected vendors that “the money for the vendors is there” and is already sitting in a bank account awaiting disbursement. However, he indicated that compensation will not necessarily be automatic for everyone, with government still determining who qualifies and how much eligible vendors should receive.
Compliance will also factor into that process. Pierre pointed out that some vendors have failed to meet their obligations even after receiving reduced rent, saying government must be careful not to reward “bad behaviour” while ensuring that compliant vendors are treated fairly.
Minister responsible for Local Government Stephenson King has been tasked with developing the formula that will guide the distribution of the funds.
The compensation issue emerged after the Castries Vendors Arcade was cleared in mid-May to facilitate ongoing waterfront redevelopment works being undertaken by Global Ports Holding (GPH).
Several vendors affected by the move complained about lost income, relocation expenses and the difficulties associated with operating from a temporary location while demolition and construction activities progressed.
Pierre subsequently requested a comprehensive assessment of the vendors’ financial circumstances, including relocation costs and estimated loss of earnings, to determine the level of reimbursement.
For affected vendors, the money may be secured. The outstanding question is how soon government will settle the compensation formula and begin putting that money into their hands.
