March 2013 Progress Report: Approved Plans and Legal Process Underway

This month we’re wrapping up one significant process and starting another.

Rene, the architect, completed the full set of plans and submitted them to the Granada building department. We are thrilled to announce that the city has approved the plans and is ready to issue the construction permit to us. This is a major leap forward as we can now start construction at any time. The updated site plan with an index of the full drawing set is below.

Our next step is to begin the legal process of forming the corporation which will own and operate the island and eco-lodge. Once it’s formed, we’ll transfer the land title to the corporation. As mentioned in the partnership page, we will be able to sell shares of the corporation, allowing the corporation to raise the necessary capital and distribute profits with the investors / shareholders. We’ll also start the complex but highly beneficial Law 306 application process. These steps running concurrently are expected to take as little as 3 months and as long as 6 months to complete (about 1 month for the corporation formation). We expect to select a Managua-based law firm shortly to undertake the work.

Site Plan

Site Plan with Index of Drawings

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