EXECUTIVE SUMMARY
The above is a current aerial photo of the island of Leaf Cay. It contains full infrastructure with electric power via underwater cable to mainland. It has buildings, roads, homes, warehouses, and full constuction equipment and materials.
The above Initial Site plan is our Proposed New Boutique Resort / Marina for Leaf Cay Resort.
It contains 11 Private Villas, 40 Townhome villa units, Restaurant / Bar, Beach club café, Spa, Mega Yacht Marina, 3 independent beaches, infinity pools, tennis courts, boutique shops, and for the first time in the Bahamas, Over water Bungalows, like those seen in Fiji / Tahiti. Areas.
Over Water Bungalows
Leaf Cay is a 15 acre island in the Exumas in the Bahamas. Leaf Cay will provide luxury and quality hospitality services , land subdivision development, and a full service marina and overwater bungalows, located in the popular Exumas island chain just 80 miles from Nassau, the capital of the Bahamas and only 50 minutes by air from Florida. The neighboring island of Staniel Cay, which is the hub of the activities in the Exumas, has an airport with direct flights from Ft. Lauderale, as well as direct 30 minute flights from Nassau. The government has plans for a Runway expansion and new terminal facility already budgeted and approved for Staniel Cay.
Leaf Cay is the only private island connected to the main power grid to the Bahamas Electric Company via an underwater power cable running to the mainland of Staniel Cay.
We seek funding for the development and construction for this yachting oriented destination resort / community in a small private island setting. The resort community is located in the center of current development by well known celebrities, heads of state and captains of industry. A recent July, 2011 headline article in the Wall Street Journal details this latest Real Estate boom in this island archipelago.
Leaf Cay Partners have successful career backgrounds in the luxury hospitality and franchise sectors, as well as the yachting and aviation industries. Their vision is based on experience and recognizing the current atmosphere of rapid extensive development in the Bahamas and associated projected visitor populations.
They can provide experience, innovation, creativeness, knowledge and strategic alliances.
Current projects under construction in the Bahamas are the Baha Mar $2.5 billion resort project funded by the Chinese Government and scheduled for opening in late 2014 in Nassau. In addition a new $25 million conference hotel is being built at the new Nassau airport.
The Bahamas government is well prepared and welcoming to foreign investments and give numerous tax advantages. The Leaf Cay Resort will benefit from the Hotel / Resort Encouragement Act which provides for zero property taxes for 20 years, as well as duty free import for all materials, furnishings, etc. for the resort as well as the condos, villas, and all facets of the boutique resort.
Current Investment / Funding: At present, the principals of the project have invested $4.5 million in cash as well as obtaining a Bridge Loan in the amount of $3.5 million to provide the funds necessary for closing on the purchase of Leaf Cay.
In addition, First Caribbean Bank and Royal Bank of Canada are willing to provide funding for the build out of the private villas and the townhome villas at a rate of 3.7% above 90 day Libor rates. This funding would be provided on a Pre-Sale basis. Both banks have also offered to provide financing for the purchasers of the various private villas and townhome villas.
We are currently seeking Phase I funding / financing in the range of $ 10 - $ 15 million. These funds will be used for the initial build out of the marina, restaurant, overwater bungalows and common areas. Leaf Cay partners are open to negotiation with respect to investments via either equity participation or short or long term loan financing. A First Preferred Mortgage position on the Title to the island of Leaf Cay is available as collateral security.
Leaf Cay partners have also negotiated the option with a well known island developer to provide some initial land to the developer in order to build out some initial townhome and private villas at the out of pocket costs to the developer. These initial villas will be used as the Sales Models for the boutique resort, and when sold, Leaf Cay partners and the developer will share in a profit split. The developer has indicated that he would be willing to continue the option program, and provide his own funds for the initial build out of the villas, while sharing in a revenue split upon sale.
Branding: Leaf Cay partners have also been meeting with various high profile boutique resort entities, as well as an established world wide marina company, which have indicated an interest in branding the resort and marina. Further meetings with these various companies are scheduled.