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It’s a short one this week. The government wants to tear up the 70-year-old deal that lets a private company run Freeport, and the Port Authority isn’t going quietly.

Let's get into it.

For 71 years, a private company has licensed businesses, controlled building and planned land use in Freeport. That’s the 1955 Hawksbill Creek Agreement (HCA), and it runs until 2054. Prime Minister Davis wants to revisit it much sooner, and possibly repeal it.

Why now? Freeport has struggled for decades, and the Government has been taking on what used to sit elsewhere: the airport, Grand Bahama Power and the Grand Lucayan site. It also lost an arbitration earlier this year, when a tribunal dismissed its $357m claim against the Port Authority.

Last week at the Grand Bahama Shipyard, Davis called it a “fork in the road” and unveiled a green paper, a draft for public discussion. It proposes a review and possible repeal of the HCA, a Grand Bahama Development Council, and a Development Act with concessions across the whole island, not just Freeport. “My argument concerns a structure,” he said, adding that he respects the families who own the Port Authority.

Consultation runs Nov. 1 to April 30. A white paper is targeted for July 2027, draft legislation by December, and passage in early 2028. Davis says changes will go through Parliament, nothing will be retroactive, and licensees’ lawful rights will be respected.

The pushback

The Grand Bahama Port Authority says its rights “must be respected” and can only change by agreement. Former Chamber president Dillon Knowles calls repeal “catastrophic” and says the reforms can happen under the existing agreement. U.S. Ambassador Herschel Walker read the plan “with real concern,” warning it tells investors “the rules can change after you have already made the investment.”

Opposition Leader Michael Pintard agrees Grand Bahama shouldn’t keep bearing governance that isn’t accountable to residents, but doubts the Government will deliver on long-promised projects.

Both sides say Freeport needs modernising. The argument is over what happens to the old rules.

Under the HCA, tax breaks are written into law. Knowles argues a new regime would turn them into concessions investors have to apply for. The green paper says rates, duration and conditions depend on consultation, with concessions tied to Bahamian jobs, training and local suppliers.

Is a tax break a legal right, or something you apply for?

The bottom line

The Government says Freeport’s structure is out of balance. The Port Authority says the rules shouldn’t change without its agreement. The Opposition agrees there’s a problem and doubts the fix. And if the timeline holds, “who runs Freeport” isn’t settled until 2028.

Solve this dead easy Bahamian history question:

In 1843, Nassau was made the distributing point for what?

A) West Indian mail
B) British naval supplies
C) Caribbean sugar exports
D) Colonial tax revenues

Check the bottom of the newsletter for the answer.

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⚖️ Meta has been ordered to pay New Mexico $25 billion after a jury found Facebook misled users about privacy, tied to the Cambridge Analytica data harvesting. Meta says it expects to prevail on appeal. Separately, its shares fell nearly 7% the next day as AI spending pushed free cash flow negative, per CNBC.

🛏️ Airbnb is banning checkout chores. Hosts will generally no longer be able to ask guests to wash dishes, strip beds or take out the trash. The rule takes effect Nov. 20, and repeat offenders risk lower search visibility or suspension. Some hosts are already pushing back in Airbnb’s community forum.

🗳️ Israel votes Tuesday in a close election, days after Trump gave Netanyahu his “Complete and Total Endorsement,” praising his backing in the war on Iran. A Hebron shooting that killed two Israeli soldiers has since prompted a West Bank lockdown, with all crossings closed on election day.

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A) West Indian mail

In 1843, the Royal Mail Steam Packet Company made Nassau its distributing point for West Indian mail, briefly improving the colony’s links with the outside world.

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— The Bay Street Brief Team