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Why Tax Increment Financing in the USVI?

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The V.I. Legislature adopted TIF in 2008 to:

  • Eliminate or prevent blight
  • Promote development and economic growth in underdeveloped areas
  • Preserve and enhance the tax base of redevelopment areas
  • Eliminate shortage of affordable housing available to residents of low or moderate income
  • Boost the U.S. Virgin Islands economy
  • Restore and revitalize underdeveloped communities