So over twelve vendors have been evicted from the Nassau Straw Market for non-payment of their stall rent.
According to the president of the straw vendors association "what is happening now is a disaster".
There is no doubt lots of Bahamians, across the spectrum, are hurting in a very tough economy, but this only highlights the problem with taxpayer subsidies. They're never expected to end.
The government built the complex for over $35 million for 141 vendors who are supposed to pay $35 per week rent for a stall to ply their wares.
With income from the vendors of $256,620 per annum it will take some 136 years to pay for the building, not to mention the upkeep and other expenses.
Of course these numbers may vary if there is rental space upstairs etc, but obviously, there is no value in this "investment", except to provide the "political gift" of a stall for the vendors.
Solution
Back in 2007 I thought the vendors should have been allowed to buy the property where the present building stands to erect their own market, and then be responsible for the upkeep thereafter. A coop so to speak.
Now that's not possible what can be done?
Since it appears the building will never be paid for, I would suggest giving it to the 141 vendors to manage and maintain themselves. This gets the burden off the taxpayers back.
If they can't keep it up to standard, the straw market should be shut down and the building renovated and used for government offices. Better still, rent it out to business people or banks and use the revenue to pay down the national debt.
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