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

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B A H A M A S B A R B A D O S B R A Z I L B V I C A Y M A N I S L A N D S G U Y A N A J A M A I C A S T L U C I A T R I N I D A D & T O B A G O T U R K S & C A I C O S

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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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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

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

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

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

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 dgreen@williamssolar.comMore details can be obtained from the websitewww.williamssolar.com

49

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

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

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:,/'(

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

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

BENEFITS:BENEFITS:

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 admin@beavainc.com.

Above: Tania Wallace, featured presenter atBEAVA workshop.

The second CIBC FirstCaribbean-sponsoredsession is scheduledfor May 22

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

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