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maltatoday, SUNDAY, 16 OCTOBER 2016 6 News PA keeping high-rise developers' 'informal pre-submissions' under wraps JAMES DEBONO THE Planning Authority has con- firmed that the developers seek- ing high-rise permits for Paceville had made informal "pre-submis- sions" that "varied in detail". But the PA said these individual proposals will only be made pub- lic if the authority is forced to do so under the terms of the Free- dom of Information act, offi- cial Joe Scalpello said. The PA is keeping secret a list of submissions by the owners of nine sites whose requests for high-rise towers were included in a new master plan for Pace- ville. On the other, 25 submis- sions from residents, business- men and environmental groups made in a public consultation have all been published online. Indeed the new master plan specifies the number of sto- reys each development will be allowed, hinting at the tailor- made master plan for the in- terests of the owners of the nine sites, which include Por- tomaso, Corinthia, St George's Park, Villa Rosa, Cresta Quay, the ITS school, and Mercury House. Even the Tumas Group's re- quest to extend the Portomaso footprint with reclaimed land was "incorporated" into the master plan during its prepara- tion by consultants Mott Mac- donald, when it had already made its own separate expres- sion of interest in 2013 for land reclamation. It was Front Harsien ODZ representative Monique Agius who asked Scalpello directly why these submissions were not published during a meeting of parliament's environment and planning committee. Scalpello referred to a num- ber of freedom of information requests asking the PA to pub- lish the submissions made by the nine developers, which are still being assessed. MaltaTo- day is one of the requestors. Villa Rosa owner Anton Camilleri was the sole devel- oper to address the parliamen- tary committee. He insisted that the PA's siting of three towers on the eastern coast of St George's Bay, instead of his originally intended plan at Villa Rosa, was not his idea. "I did not write the plan myself. It's now what I had originally submitted and we still have to make studies on the viability of what is proposed in the master plan." Camilleri's original plan was for a 36-storey tower right in the middle of St George's Bay, something not allowed by pre- sent local plans. Instead the master plan shifts the develop- ment to the Cresta Quay area that was once earmarked for a low-rise hotel, to provide space for three towers instead. jdebono@mediatoday.com.mt Secure Investment Secure Investment Issue of Issue of €100,000,000 100,000,000 in in Fixed Rate Malta Fixed Rate Malta Government Stocks Government Stocks (subject to the over (subject to the over-allotment option allotment option up up to a maximum of to a maximum of €60,000,000 60,000,000) MALTA GOVERNMENT STOCKS MALTA GOVERNMENT STOCKS STOCK STOCKTAL TAL-GVERN GVERN _______ _______ (i) (i) 1.5% 1.5% Malta Government Stock Malta Government Stock (Fourth Issue) (Fourth Issue) Fungibility Fungibility Issue Issue maturing aturing in in 2022, 2022, at at €107.25 with a YTM of 0.223% 107.25 with a YTM of 0.223% (which corresponds to an (which corresponds to an annualised annualised rate of 0.223%) rate of 0.223%) and and (ii) (ii) 2. 2.1% Malta % Malta Government Stock Government Stock (First Issue) (First Issue) maturing in 2039 maturing in 2039, , at at €102.50 with a YTM of 1.964% 102.50 with a YTM of 1.964% (which corresponds to an (which corresponds to an annualised annualised rate of 1.973%) rate of 1.973%) or or (iii) Any combination of the above two Stocks which in the Fixed Rate Malta Government Stocks The Accountant General announces that the price for each Fixed Rate Malta Government Stock offered for subscription by members of the public has been established as follows: MALTA GOVERNMENT STOCK FOR SAFE INVESTMENT AND LIQUIDITY WITH MALTA GOVERNMENT STOCK FOR SAFE INVESTMENT AND LIQUIDITY WITH INTEREST PAID INTEREST PAID UP TO UP TO THE DAY OF RE THE DAY OF RE-SALE OF SALE OF STOCK STOCK SECURITY SECURITY CONTINUOUS LIQUIDITY CONTINUOUS LIQUIDITY INTEREST EVERY SIX MONTHS INTEREST EVERY SIX MONTHS (The value of the investment may go up or down during the tenor of the Stock.) 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Paceville Master Plan