Percival: Vendors must clear outstanding rent

Vendors operating from the Vendors Mall in Heritage Quay with outstanding balances for the St. John’s Development Corporation (SJDC), will have to make arrangements to clear those arrears. Bernard Percival, chairman of the SJDC, made the disclosure yesterday as he stressed that going forward into the New Year vendors will have to clear their accounts and stiff penalties will be meted out to those who fail to comply.
Percival revealed that over the last two years the cost for booth rentals were reduced by 50 percent, hence each vendor pays about $143 per month for a single stall. He said while some vendors have lived up to their obligation others have not, which has led to an accumulated sum of almost half a million-dollars in unpaid rent.
“They will have to make payments on a monthly basis; we are going to have very stiff penalties after three months if they don’t make the payments. For those who are consistent, we will arrange with them some satisfactory system as to how they can clear the balance,” Percival said.
The chairman said the accounts department at SJDC will review the files and determine the best alternative for each vendor. He added that special considerations will be given based on the payment history of each vendor.