How does the Hotel Development and Financial Program application process work in the U.S. Virgin Islands?
Developer applies to the VIEDA through the Economic Development Commission for certification to the perform the Project
Application must be supported by a Project Development Plan
A $50,000 deposit shall be paid with the application which will be credited against the costs of processing the application, conducting independent assessments of the Project and other administrative costs
Applications must be submitted prior to January 1, 2014
VIEDA determines whether to certify Project based on criteria outlined in the VI law
VIEDA calls a public hearing re: the suitability of the proposed project (the VIEDA shall hold no less than two (2) public hearings on the application prior to rendering any decision on the certification of the Project
VIEDA approves the Project Development Plan and certifies the Hotel Development Project for approval by the Governor and the Legislature