V.I. Economic Development Commission Public Hearing; VIEDC, Economic Development Bank Board Decision Meeting Set for July 6

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           USVI Yacht Co. and at Least 9 Businesses to Have Tax Incentive Applications, Other Matters Addressed at Local Board Meeting

CHARLOTTE AMALIE, St. Thomas, U.S. Virgin Islands  –  July 5, 2017 – The U.S. Virgin Islands Economic Development Authority (USVIEDA) announces the following:

Public Hearing:   A public hearing for the V.I. Economic Development Commission (VIEDC), a subsidiary entity of the USVIEDA, will be held at 9 a.m. on Thursday, July 6, 2017 via videoconference feed between 8000 Nisky Shopping Center, Suite No. 620, St. Thomas, USVI; and the William D. Roebuck Industrial Park at No. 4 Negro Bay, Building No. 2, Frederiksted, St. Croix, USVI.

This public hearing will be on applications regarding tax benefits that were submitted to the VIEDC by representatives of Gold Coast Yachts for a modification and an extension of its certificate of benefits.

Any person, firm or corporation interested in the approval or disapproval of the application(s) may appear and be heard provided that a written statement is submitted at least one (1) day prior to the hearing to the chief executive officer of the USVIEDA.

Governing Board Decision Meetings:   A decision meeting for the VIEDC will immediately follow the public hearing on applications and/or petitions from

  1. Coral World (V.I.), Inc. (extension/modification application); 
  2. Grapetree Shores, Inc. d/b/a Divi Carina Bay Resort (extension application);
  3. St. Croix Financial Center, Inc. (extension/modification application);
  4. St. Croix Renaissance Group, LLLP (extension application);  and
  5. Sugar Bay Club & Resort Corp. (extension application).

A decision meeting will be held on compliance matters concerning

  1. AUVEN Therapeutics Management, LLLP (employment petition);
  2. Concordia Campgrounds, Inc. (resolution of non-compliance);
  3. IGY-AYH St. Thomas Holdings, LLC (resolution of non-compliance); and
  4. Subbase DryDock, Inc. (resolution of non-compliance).

A decision meeting will also be held for matters with the Economic Development Bank.   The decision meetings will be held at the same locations as the public hearing.

All interested persons are notified in accordance with the law (Section 254 Chapter 15 of Title 1, Virgin Islands Code, as amended).

The Board of Directors may go into executive session with respect to any decision at any time during the meeting(s) in accordance with the law (Title 1 Virgin Islands Code Section 254).

For more information, contact the USVIEDA on St. Croix or the USVIEDA office on St. Thomas at 8000 Nisky Shopping Center, Suite 620, St. Thomas, USVI 00802.  St. Thomas office tel. no.: 340-714-1700. Facsimile No.: 340-777-1103.   For the VIEDC and the EDB, contact the USVIEDA office on St. Thomas or on St. Croix at 340-773-6499.

About the  U.S. Virgin Islands Economic Development Authority.   The U.S. Virgin Islands Economic Development Authority (USVIEDA) is a semi-autonomous government agency that was created on February 1, 2001.  It is responsible for the promotion and enhancement of economic development of the United States Virgin Islands, namely St. Thomas, St. Croix and St. John. The USVIEDA assumes, integrates and unifies the functions of these four entities:  V.I. Economic Development Commission, Virgin Islands Economic Development Park Corporation, Economic Development Bank and the Enterprise Zone Commission.  The USVIEDA accomplishes its mission by attracting multi-national investors to the Territory to establish or relocate their business in the U.S. Virgin Islands.  It also provides financial assistance for new and existing small to medium-sized businesses in the Territory and assists Virgin Islands residents and business owners with rehabilitating their properties located in distressed areas.   Learn more about the USVIEDA at www.usvieda.org.

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