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UDC owed more than $350 million by gov't in unpaid rent

Donald Hamilton, Deputy General Manager of Finance, Treasury and Investment at the UDC, responding to questions from PAAC Chairman Wykham McNeil
 
It was revealed Wednesday that the government owes more than $350 million to the Urban Development Corporation (UDC) in unpaid rent.
 
This is hampering the ability of the Corporation to carryout its functions.
 
The issue was raised at Wednesday's sitting of Parliament's Public Administration and Appropriations Committee (PAAC).
 
Rental costs racked up by the Ministry of Health while it was operating at Ocean Boulevard in downtown Kingston represent most of the arrears owed to the UDC. 
 
The Ministry has an outstanding amount of $175 million.
 


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