(a) Intent and purpose. There is a critical shortage of decent, safe, sanitary and affordable housing in the United States Virgin Islands. One of the factors contributing to the shortage of affordable housing is outmoded and rigid zoning and subdivision laws and building codes. The Government can encourage the provision of affordable housing by making land use and building regulations more flexible and by providing other incentives for the production of such housing. Savings in housing development costs can be achieved through higher density and reductions in frontage and setback requirements and lot coverage requirements. Savings can also be achieved by expediting the land use and building approval process and by making the process more predictable.
(b) Submission of affordable housing planned area development permit applications; expedited review and incentives. In order to encourage and facilitate the development of affordable housing, persons desiring to construct residential housing may elect to file an application for a planned area affordable housing development permit; provided, that such person agrees to make an agreed number of units in such proposed development available as affordable housing units; and provided, further, that the applicable requirements of section 232 are met. Notwithstanding section 232(c) of this chapter or any other law, the Government of the Virgin Islands Housing Finance Authority shall be exempted from the requirements of paving streets and installing utility systems, including electrical, telephone, water and gas lines, as a precondition to Government's subdividing land for use or sale in the Affordable Housing Program under this chapter. However, upon the Government's completion of a subdivision, under the provisions of this section, the government shall, within 180 days after the last home is constructed, complete the paving of streets and install utility systems and all monies generated from the sales of lots or housing units in the subdivision shall be deposited in a separate account and used or expended for the sole purpose of paving the streets and installing utility systems, including electrical, telephone, water and gas lines in the subdivision. Once the Government has met the requirements of section 232 of this title and this section, the balance of the monies remaining from the sales of the lots or housing units shall be deposited into the Land Bank Fund as established under title 33, chapter 111, of this Code. Applications for a planned area development permit for affordable housing shall be submitted by the applicant to the Virgin Islands Department of Planning and Natural Resources as provided herein and in section 232. An affordable housing development plan shall be submitted along with the planned area development permit application. A copy of such plan shall also be delivered to the Legislature, the Department or the VIHFA and the Authority. Prior to the final approval of a planned area affordable housing development permit, the applicant shall deliver to the Department of Planning and Natural Resources, an executed affordable housing development agreement, in the form prescribed by the Department or the VIHFA, in which the applicant agrees to provide affordable housing units within said proposed development in accordance with the terms of the preliminary approval. The agreement shall be in recordable form and shall be signed by the applicant and by any other persons whose signatures or consents are required in order to impose the applicant's obligations under the agreement as a covenant running with the land. Upon issuance of the development permit, the affordable housing development agreement shall be signed by the Zoning Administrator and the Department or the VIHFA and a copy thereof recorded in the office of the Recorder of Deeds. A copy of the recorded agreement, certified by the Recorder of Deeds, shall be furnished to the Zoning Administrator, the Authority and the Department or the VIHFA for their respective records.
(c) Application procedure. Applications for planned area development permits for affordable housing shall be submitted to the Virgin Islands Department of Planning and Natural Resources. Prior to submission of a final application, applicants are encouraged to schedule a preapplication conference with the Virgin Islands Department of Planning and Natural Resources and the Department to review applicable zoning and affordable housing program requirements and incentives.
(d) Reconsideration of applications. In case the Department of Planning and Natural Resources recommends denial of a request for a planned area affordable housing development permit, the Legislature may permit the application with appropriate modifications to be resubmitted as provided in this section and a new public hearing thereon shall be conducted as herein required.