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Archive for March, 2009

Update on Coastal Law

From the Facebook page of top development consultant Raul Calvet (also see Calvet Report):

This morning we met with the President of the President of the Legislative Municipal Commission to discuss the last issues of the long awaited Coastal Law of Nicaragua.

After a previous discussion the night before, we are still arguing about the benefits of keeping the actual setback in 30 meters from the high tide as it is now. Calvet has always defended the position that Nicaragua needs to reinforce its credibility and that passing a law that changes the rules at this point will not help the tourism and real estate industry.

Calvet’s position is also the firm opinion of all the developers and investors working in the country. Legislators opposing to the 30 meter setback are pushing for a 50 meters setback like in Costa Rica, expanding the public area of beach areas.
Calvet and the investors argue that there are too many projects being developed at this moment using the 30 meter setback as a starting point for their designs and changing the ruling will cause more problems than benefits.

It seems that advocates of the 50meters are more motivated by populist interests than any technical or even practical reason.
The fight for the Coastal Law has been going for the past four years; and it seems that now it is close to an end with the approval of the law in April or June.

Hopefully the law will be a good one. Calvet, ANID, Canatur and many other investors have been working together for all these years with the objective of passing a law that improve Nicaragua’s investment environment and that will help the coastal communities as well.