Authorization to undertake housing development; preference for local participation; joint ventures

  1. Law
  2. US Virgin Islands Code
  3. Public Planning and Development
  4. Authorization and Implementation of the Virgin Islands Affordable Housing Program
  5. Establishment of United States Virgin Islands Affordable Housing Program
  6. Authorization to undertake housing development; preference for local participation; joint ventures

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  • (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 any Government-owned housing development undertaken pursuant to the program.

  • Builders, contractors and others selected by the VIHFA to provide services for the Government under the program shall be independent contractors and shall not be deemed agents or employees of the Government. Such persons shall provide evidence of adequate personal liability, fire, casualty and other appropriate insurance to protect the interests of the Government, as such interests may appear. Builders and contractors shall also be required to provide performance and completion guarantees or other forms of performance and completion assurances established pursuant to written rules and regulations to minimize risks to the Government in the event of their failure to adequately perform under their construction agreements; provided, however, that in the interest of providing opportunities for local building contractors to participate in the program such performance assurances may be modified or waived by the VIHFA.

  • (b) In the development of affordable housing under the Act, preference shall be given to builders, developers, contractors, subcontractors and other participants licensed to do business in the Virgin Islands for a period of at least one (1) year. In addition, in order to assist small businesses, including, specifically, local builders, contractors, subcontractors and others who lack significant construction industry experience, the VIHFA shall encourage and expedite joint venture relationships between such small businesses and larger, more experienced construction firms. The VIHFA shall promulgate rules and regulations to implement the requirements of this subsection (b).

  • (c) Of the total number of affordable housing units built under the program, at least five percent (5%) of such units shall be designed to accommodate and meet the needs of disabled persons, as defined in Title 34, section 452, Virgin Islands Code.


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