
The Editor,
The government has now decided to end the lease of RBC’s former headquarters at Park St, claiming that a reported $55M of Public Money had been spent on that property, which the DPP never occupied as intended.
Your edition of Sunday, 22 October 2023, covered those events with Anna Ramdass’ two-page chronology entitled “A monument of waste“, your editorial “Seems we like it so!” and Noble Phillips’ provocative column “Are we all becoming Mahal?“.
Sad to say, but all of this plays to a muddled and distressing narrative of careless, poorly-managed spending of scarce Public Money, with a majority of the blame intended to settle on the DPP. The chronicle being one of a government anxious to provide proper offices for a DPP who is careless and capricious, with the government eventually making the tough choice to vacate the office it had so scrupulously procured for the DPP.
Your editorial opened with –
“…The best one might say about the $55 million wasted rent fiasco is that it appears to be a case of gross incompetence and perhaps “obstrufication” (new word? Possibly, obscurification, or simply, obfuscation.) rather than flagrant corruption…”
“Seems we like it so!” (21 October 2023). Trinidad Express
Having considered the available facts as disclosed by the PM at a public meeting on 9 March 2023 (as reported in the Trinidad Express pages on 11 March 2023) I could not agree less with your position on this matter. Indeed it is clear to me that flagrant corruption, or something very closely resembling that, was in effect in this matter.
These are the facts stated by Dr. Rowley –
- Rent – These offices comprise 23,000sf leased in July 2020 at a monthly rent of $600,000, which equates to the literally incredible rate of $26psf! Very few offices in POS have ever rented for as much as even $20psf, even in the prime zones, which the corner of Park and Henry Streets is definitely not. This raises sobering questions of professional responsibility, to which I will return;
- Improvements – Having paid what by any measure is record-high rent, the government then spent a reported $24M in improvements, which equates to $1,044 psf.
- Terms – Republic Bank Ltd also rents space in the same ex-RBC building, but I doubt that RBL’s negotiators agreed any such record rental. What were the lease terms agreed by RBL for that space? What are the other rents paid at that ex-RBC building by other, private-sector, tenants?
I am reliably informed that this lease was agreed by the Ministry of Public Administration, on behalf of the DPP, so the question arises as to what advice informed that record rental level for an office which required a further $24M in reported improvements. Did the MPA receive professional advice before agreeing to that record rent? If not, why not? If professional advice was received, who was the adviser and what was the level of rent advised?
According to the leading learning on this issue, Public Money must be managed and accounted for to a higher standard than that applicable to Private Money, since it is raised involuntarily. That means the state must not pay rents higher than those which the private sector would consider reasonable.
Grand corruption is only possible with the complicity of qualified and respectable professionals, so this is what is at stake in this highly-questionable matter.
This is certainly a matter which should be engaging the urgent attention of our Fraud Squad, with the advice of the DPP. Eternal vigilance is imperative to safeguard the public interest at this time of scarce Public Money.
Afra Raymond
afraraymond.net



