(a) The VIHFA is hereby authorized to initiate, administer and maintain a program to provide affordable housing for persons of low and moderate income to be referred to as the “Virgin Islands Affordable Housing Program”. The program may include the following elements: (1) contribution of publicly-owned land or buildings; (2) public development or rehabilitation of […]
(a) The VIHFA, on behalf of the Government, are hereby authorized to contract with builders, contractors, project coordinators, construction managers and others, as necessary and appropriate, to finance, develop, acquire, construct, rehabilitate and manage affordable housing. The VIHFA or other appropriate governmental entity, as determined by the Governor, is hereby authorized to operate and manage […]
In order to facilitate the production of decent, safe, sanitary, aesthetically acceptable, high quality affordable housing in the Virgin Islands, to create jobs for Virgin Islanders and to stimulate increased economic development in the Virgin Islands through involvement of the local construction industry in the production of housing for low income and moderate income persons, […]
(a) The Authority, subject to subsection (d) of this section, shall have the power and is hereby authorized, at one time or from time to time, to borrow money and to issue its negotiable notes, bonds, debentures, certificates, obligations or other evidences of indebtedness to fund or refund the same, payable solely from the revenues […]
(a) The Authority is hereby declared to be the trustee of the Housing Trust Fund, established pursuant to Title 33, chapter 111, section 3074, as amended. There shall be deposited in the Housing Trust Fund from time to time all moneys appropriated by the Legislature for such purpose and all other moneys and securities directed […]
(a) Sale or rental. (1) Subject to the provisions of this subsection and in consideration of the incentives provided under the Act, every affordable housing unit provided directly by the Government of the Virgin Islands through bonds, notes or other obligations issued by the Authority or provided by an applicant pursuant to an Affordable Housing […]
The upper income limit for low and moderate income persons participating in the Virgin Islands Housing Finance Authority’s Home and Land Ownership Program is 3½ times the median income in the Virgin Islands as determined by the U.S. Department of Housing and Urban Development.
