Grace Bay Realty - Turks and Caicos Islands Luxury Real Estate Specialists

Grace Bay Realty Launches Self-Sufficiency Project for the Turks & Caicos Islands

Providenciales, Turks & Caicos Islands – Dec 18th, 2009 – Grace Bay Realty, a real estate company serving the Turks & Caicos Islands and a Christie’s Great Estates affiliate, has pledged $25,000 to an ambitious entrepreneurial and self-sufficiency project within the Islands as announced today by Lyle Schmidek, Managing Director.

An initial $5,000 will be donated to help the Turks & Caicos Farmers & Community Association in getting their products and services to a larger number of consumers more cost effectively and to start the process of building a Farmers’ Market on Providenciales.

The remaining $20,000, along with contributions from others in the community will be granted in increments of $5,000 as a capital injection to qualifying entrepreneurially minded individuals and groups that submit a business plan by the 30th of January, 2010. All applicants should address their business plans in confidence to TCI Self-Sufficiency Project, c/o Grace Bay Realty, located on Grace Bay Road in the Regent Village.

Successful applicants will be determined by a panel consisting of a senior representatives of the TCI Agricultural Dept., T & C Farmers & Community Assoc., First Caribbean, Royal Bank, Scotiabank, Saunders & Co. and Grace Bay Realty.

In an effort to promote entrepreneurship and self-sufficiency, one requirement of the program is that the recipients of the grant must pledge to repay the $5,000 to the Project’s Regeneration Fund after their first year in business so that others can participate. After the second year of business the fund asks recipient businesses to make a second $5,000 pledge to further the ‘paying forward’ of new start-ups. Lyle Schmidek hopes that in five years this process would mushroom into a million dollars in grants, or more…

Mr. Schmidek advises that Grace Bay Realty has started to ask the whole community to join in with them and so far everyone approached has been very supportive. The law firm of Saunders & Co. was the first to pledge its support through the use of a prime 1.2 acre parcel of land on Leeward Highway and adjacent to IGA to construct a Farmers’ Market along with an additional $5,000.00 and legal support in establishing the Turks & Caicos Farmers & Community Association and for devising terms for grants and repayments.

Architectural services have been pledged by Lee and Astwood Architects who will coordinate all architectural and engineering services, says Mr. Schmidek and they are now finding individuals and companies to join them with building materials and labour to build the Farmers’ Market. Mr. Schmidek also notes “The market will give local vendors a low-cost and effective venue to offer their produce or other products to a large number and wide range of consumers from all over Provo and throughout the Islands as most residents converge at the Leeward Highway IGA with shopping money in their pockets at least once a week.”

Up to this release the following individuals and companies have pledged the following which we are very grateful. Please follow local media for updates to this list.

1. Beth Atkins, Public Relations/Luxury Real Estate Specialist, Grace Bay Realty – Recipient support
2. Bonnie Voynovich, Country Head, Royal Bank of Canada – application review panel
3. Courtney Missisk, Farmer/Entrepreneur, North Caicos – Education, training & application review panel
4. Darik Riggs, Marketing Coordinator, Grace Bay Realty – Marketing/website development assistance
5. Donald Elvey, Agricultural Director, Government Farm – Education, training & application review panel
6. Dexter Williams, Specialty Services – Entertainment/light & sound infrastructure
7. Doug Cochrane, Country Head, Scotiabank (Turks and Caicos) Ltd.- Application review panel
8. Dr. Frederick & Mary Glover, T1 Business Centers – Development funding
9. Jeff Lee, Lee and Astwood Architects – Architectural and engineering services
10. Katherine Baryluk , Private Island Sales, Grace Bay Realty – Recipient Support
11. Larry Caroe, Saunders & Co. – Legal Services and Association Set up
12. Norman Saunders Jr., Saunders & Co. – Land use, legal services & application review panel
13. Patrick Hayward, Benchmark Survey Associates – Surveying services
14. Peter Stingl, Luxury Real Estate Specialist, Grace Bay Realty – Recipient support
15. Robert Greenwood, Luxury Real Estate Specialist, Grace Bay Realty – Recipient support
16. Sherma Hercules, Country Head, First Caribbean International Bank – Application review panel
17. Stefan Kral, CEO, Salt Cay Devco Ltd. – Educational Funding
18. Woody Bonrud, Luxury Real Estate Specialist, Grace Bay Realty – Recipient support

Secondary funding has already been secured that will fund training at the new Farmer’s Market location for all communities interested in learning about sustainable living, including the growing of organic gardens, permaculture, alternative energy and other related self-sufficiency practices.

Anyone interested in pledging their support in this exciting community project should call the Project’s Public Relations Coordinator, Beth Atkins, at 649-232-5277 or e-mail her at This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Business Plans may be dropped off at Grace Bay Realty located at 105 Regent Village, Providenciales or e-mailed to: This e-mail address is being protected from spambots. You need JavaScript enabled to view it or faxed to 649-941-4106. On island telephone number is 649-941-4105 and US is 602-324-9400.