The Road Town Market Square project, an initiative aimed at revitalizing the old market space, is again under scrutiny following the release of an audit report highlighting significant delays, cost overruns, and underuse of the facility.
Originally envisioned as a state-of-the-art facility to support local farmers and small-scale entrepreneurs, the project has faced challenges since its inception.
Initially budgeted at $1.43 million, the market was set to be completed by May 2021. However, it wasn’t officially opened until February 2023 – nearly two years behind schedule – with several key elements still unfinished. Even after the grand opening, work continued, including the construction of a bus shed in September 2023. As of today, the installation of shutters for the kiosks remains ongoing, with tenders for this work issued as recently as August and December 2023.
According to Treasury records cited in the audit into Major Contracts, the project’s cost has now climbed to $1.5 million. While delays in construction and rising costs are often part of large public projects, the audit report highlights concerns about the overall management of the project and its failure to meet deadlines.
The new market square, featuring sixteen kiosks of varying sizes, a bandstand, and a bus shed, was designed to provide a vibrant space for local vendors. However, despite the fanfare surrounding its opening, the audit points out that the market square remains largely underused.
One of the primary reasons cited for this is the unfinished state of the kiosks, which lack essential features such as shutters, leaving them exposed to the elements. Vendors, especially farmers who rely on protection from weather conditions, have been hesitant to use the space. The absence of these basic features is further compounded by ongoing work that stretched months beyond the official opening.
The audit also highlights that rental fees are contributing to the underuse of the market. The original monthly rates were set at $300 for smaller kiosks and $450 for larger ones, but these prices have since been temporarily reduced by $100 until the shutters are installed. Even with these reductions, some vendors find the costs prohibitive. The market also offers day rentals for $25 per day, but uptake remains low, further reducing the potential vibrancy of the space.
To date, only six of the sixteen kiosks have long-term leases.
The audit report points to several key issues with the management of the Road Town Market Square project.
“Twenty-seven contractors were engaged for the Market Square development project… this undertaking also included contractors that may not strictly qualify under the “capacity building” criteria. In addition, only 15 of the 27 contractors were registered on the Ministry of Finance’s schedule of qualifying contractors.”, the audit found.
The audit’s findings echo larger concerns raised in the broader review of public contracts, which identified weaknesses in procurement processes and contractor selection that often led to delays and inefficiencies.