(a) The Legislature hereby finds and declares: 1. that there exists throughout the Virgin Islands a critical shortage of adequate building lots and housing available for purchase within the economic reach of persons of moderate income; 2. that as a direct result of this shortage, such persons of moderate income are compelled in alarming numbers […]
As used in this subchapter, unless it is otherwise provided or the context requires a different construction, application or meaning: “Committee” means the Advisory Committee established by section 191e of this title; “Bonds” means all bonds, notes, debentures and any other type or form of instruments of obligations; “Executive Director” means the “Executive Director of […]
The Governor with the approval of the Legislature is authorized to transfer to the jurisdiction of the Virgin Islands Housing Finance Authority, for disposal in accordance with the provisions of this subchapter, any plot or plots of land presently owned or hereinafter acquired by the Government of the United States Virgin Islands, if such land […]
(a) In addition to any other powers conferred upon him by this subchapter or any other provisions of law, the Executive Director of the Virgin Islands Housing Finance Authority, with the approval of the Governor, and on behalf of the Government of the United States Virgin Islands, may: (1) acquire any real property or superficiary […]
Three members shall constitute a quorum of the Committee for the purpose of conducting its business and exercising its powers, and for all other purposes, except that a lesser number may adjourn. A majority vote of the membership present and voting shall prevail.
The Committee shall recommend to the Executive Director of the Virgin Islands Housing Finance Authority: (a) necessary surveys of the needs of the Virgin Islands residents for moderate income housing; (b) investigation of areas in the Islands where real property may be purchased for the construction and development of moderate income housing projects; (c) selection […]
(a) Notwithstanding any other provisions of law, the Board of Trustees of the Employees Retirement System of the Government of the United States Virgin Islands, upon the request of the Governor of the Virgin Islands pursuant to the provisions of section 191h of this title, is authorized to loan, out of the reserves of the […]
The Governor is hereby authorized to adopt and amend all such necessary or appropriate rules and regulations, not inconsistent with the provisions of sections 191f, 191h-1 and 191h-2 of this title, and section 3027 of Title 33, for the purpose of coordinating and facilitating the responsibilities and duties of the Commissioner of Finance and of […]
(a) The provisions of this section are enacted to facilitate mortgage financing by private financial institutions with respect to any housing covered by this Act. (b) There is created a Housing Insurance Fund which shall be used by the Executive Director of the Virgin Islands Housing Finance Authority as a revolving fund for carrying out […]
(a) The Governor, for and on behalf of the Government of the United States Virgin Islands, is hereby authorized to issue bonds, borrow from public or private trust funds or from government insurance fund for the purposes of procuring monies to be loaned, appropriated, contributed or granted to the Executive Director of the Virgin Islands […]
(a) All applicants for land and dwellings in a moderate income housing project shall be residents, persons of moderate income, and at least 18 years of age, except for the class of priority purchasers referred to in paragraph (5) of section 191j of this title. Applications shall be made in writing to the Executive Director […]
The priority of purchasers of homes shall be in the following order: (1) Residents presently owning and living in superficiary buildings on land or leasing land privately owned or acquired by the Government. (2) Residents presently living in rented homes located in areas acquired by the government or who may have applications pending for a […]
(a) In the name of the Government of the United States Virgin Islands, and with the approval of the Governor, the Executive Director of the Virgin Islands Housing Finance Authority shall issue contracts for the purchase and sale of land and dwellings provided under this subchapter or issue deeds of conveyance either in fulfilment of […]
In the construction of any building pursuant to the provisions of this subchapter, the Executive Director of the Virgin Islands Housing Finance Authority may make available materials, supplies, technical services, surveys and equipment to such applicants and upon such terms and conditions as may be established from time to time by rules and regulations promulgated […]
(a) Purchasers of allotted land under this subchapter shall not, within a period of 20 years from the date of the deed, lease, sublease, sell or transfer by gift or otherwise the land so allotted without the prior written consent of the Governor. Such restraints on alienation shall not be construed to apply to a […]
(a) No dwelling shall be erected by the Government at a cost of more than $25,000 exclusive of the proportional cost of the land. (b) The minimum selling price for a dwelling shall be a sum at least equal to the Government’s acquisition cost plus the cost of any additions and improvements.
In the discharge of his duties and responsibilities hereunder, the Executive Director of the Virgin Islands Housing Finance Authority, or his representative, after obtaining permission to do so from the owner or holder, or his representatives, may enter any land or premises, for the purpose of making surveys, taking measurements, or conducting investigations with regard […]
Prior to the acquisition of any lands through the exercise of the power of eminent domain, for the purposes of any moderate income housing project under the provisions of this subchapter, all affected property owners and other interested parties shall be afforded an opportunity, at a public hearing to be called for such purpose by […]
In all proceedings for the condemnation of real property under this subchapter, the following procedure shall apply: (a) Notice shall be served by the Executive Director of the Virgin Islands Housing Finance Authority on the property owner or his representative which shall include the following: (1) a declaration of the intention of the Government of […]
