KINGSTON — The Montego Bay Community College has received an endowment of land, which is to be held in trust for the development of the institution.
Cabinet, at its meeting this week, gave the go ahead for the acceptance of the 1.65 hectare (4.13 acres) property located at Queen’s Drive in the second city, from the Dorothy and Marshall M. Reisman Foundation to the Montego Bay Community College Trust.
Speaking at April 6 post-Cabinet press briefing at Jamaica House, Minister with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz, said Cabinet also gave approval for the waiver of transfer tax and stamp duties in respect of the transaction, as the gift was from a charitable organisation and would be used for educational purposes.
Dorothy and Marshall M. Reisman were successful entrepreneurs from Syracuse, New York, who were involved in many business ventures, including wholesale wine distribution, janitorial services, and car rental franchises.
Mr. Vaz said that the Reismans’ connection with Jamaica started in the mid-1950s when Mr. Reisman purchased the franchise for Avis Car Rental, which he operated until the early 1970s. Mr. and Mrs. Reisman maintained their winter residence in Montego Bay from the early 1960s until Mr. Reisman’s passing in 2009. Mrs. Reisman had passed a year earlier.
The Dorothy and Marshall M. Reisman Foundation was founded in 1991 to continue the Reismans’ long tradition of giving.
By CHRIS PATTERSON, JIS Reporter