Cancun Beach Resto back on “if” loan is signed on Jan.11th posted by on January 6, 2010

I say “if” signed because this is Mexico where not much is certain to happen on time. I’ll take a ride out to the hotel zone tomorrow and see if I can get some pictures near the tri-royals.

This is an excerpt from this mornings paper using Google translate.

Click HERE to see the complete article.

Banorte signed on Monday,

Banobras and municipality

CANCUN, Q. Roo .- “We’re changing leaf,

there is nothing more

that can delay the recovery of beaches”


Denis Ruiz / SIPS
CANCUN, Q. Roo .- La Presidencia Municipal de Benito Juárez said on January 15 signed the loan to finance the rescue of beaches, when he called “immovable”, but yesterday the state’s governor, Felix Gonzalez Canto, confirmed that this will be on January 11.

Yesterday, after the special meeting Beaches Rescue Trust, the governor said “let’s change sheet” and added that “there is nothing that could further postpone the signing by Banorte, Banobras and the Municipality of Benito Juárez.

Just felt that the work is ready for the next two months and be completed in Cancun in a month in mid-February should start rehabilitation sands of Playa del Carmen.

As required by the trust and Banobras was the guarantee of the appeal, so the state government will serve as moral and financial backing of the municipality.

He commented that “we established communication with the banks mainly involved, and Banorte Banobras mainly because both sides have the information directly from those who are responsible for each institution at the national level that there is no impediment, there is nothing pending, no anything that could further delay or postpone the signing by Banorte, Banobras and the municipal government for next Monday.

“With these conditions we as a state,” he said we are telling the trust that we endorse, we have reviewed what is, both by the municipality of Benito Juárez as by banks and support what is happening, to the extent that next Monday if no agreement be reached, then initiate a mechanism for the state economically or financially support what we have to make to the trust.

He said “it is virtually a fact that on Monday the two banks signed with the municipality of Benito Juárez.

‘ “He quoted is required by the banks a guarantee and this will always be federal contributions, the trust that manages Banorte had taken some time to give their endorsement and approval.

Funding is the additional tax they already are charging users of the federal zone (hotel).

He recalled that “the debt of Benito Juárez was restated and created a trust and that is administered by Banorte, it is he who oversees the management of municipal debt; the beaches is a new financing, and so you can have all requesting support mechanisms have to instruct Banobras in the original package of the City Council and what it does is open your file Banorte or their loan portfolio that has this municipality. ”

“Then comes a ‘red tape’ that is what is being raised and is being resolved by next Monday,” he said.

Gonzalez Canto said the state committed to provide 200 million, of whom placed 150 million pesos.

“We’ve got 50 million dollars, money that we will be providing in the coming months and the federation pledged 400 million dollars, which have been released,” he said.

He explained that the main guarantees of payment increases that occurred in the federal zone, which he said is an amount sufficient torque to meet the monthly installments to Banobras is funding.