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Turks & Caicos signs 999-year land accord with luxury resort company

PROVIDENCIALES, Turks & Caicos Islands -- The British governor of the Turks & Caicos Islands has signed a multimillion-dollar land deal with a luxury resort company.

A government statement Monday says Caicos Resorts Limited has leased 17 acres of government land for 999 years for a US$3 million down payment and yearly rental income. The company runs the Amanyara resort on the island of Providenciales.

Gov. Ric Todd says the local population will benefit from increased revenue streams and more jobs at the Amanyara resort. He signed the agreement on Monday.

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