APS to build 400 space multi-level parking facility

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PHILIPSBURG – A 400 space multi-level parking facility in Philipsburg will be built by General Pension Fund (APS). This parking facility will be constructed on one of two plots of land APS acquired from Government as part of a deal to help reduce Government’s debt to the pension fund.

Prime Minister William Marlin, speaking at the Council of Ministers press conference yesterday, Wednesday, April 20, said construction of the parking facility was to take several months and begin this year. One level of the parking facility, he noted, should be reserved for Government’s use and the other three levels for public parking. “If they make an investment in the facility, they will look for a return on their investment. It’s not a gift,” Marlin told the press.

In order to reduce the NAf. 83 million debt to APS, Government and the pension fund engaged in an “asset swap” and transferred two parcels of Government-owned land to APS. The land has been appraised at NAf. 4.45 million, the amount the debt has been reduced.

Meanwhile, the country’s Coat of Arms will be incorporated into the flooring at the entrance of the new Government Administration building. Prime Minister Marlin noted that the entrance of the new building, which has been built since 2008, needed a facelift by upgrading the tiles.

“Government only wants to change the face of the entrance. The tiles are not the best tiles on the market and we figure that the entrance of the building should look representative,” Marlin said. “We also plan to put the Coat of Arms in the flooring to give it an extra look. He also noted that the front of the building would be redone to accommodate parking.

In a bid to deal with the debt of government to the Social Health Insurance (SZV), the new Government Administration building was sold to the SZV. The government will rent it and occupy it and have the possibility to repurchase the building in the future.