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New Vision for VIHFA: Eugene Jones Jr. Charts a Path Forward

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Eugene Jones Jr.

Eugene Jones Jr., the newly appointed executive director of the V.I. Housing Finance Authority, has been exploring the intricacies of his role for the past three weeks. In a discussion with the Consortium during his initial media engagements, Jones chose to focus more on his leadership philosophy and approach to institution management rather than the minutiae of his current position.

Having served as an auditor for the HUD Office of the Inspector General, Jones transitioned to housing authority roles, driven by a desire for less travel and more stability. He shared an anecdote about losing his way home after a stint in Las Vegas, a pivotal moment that steered him toward a career change. Jones started as the chief financial officer at the San Francisco Housing Authority but found the finance role unfulfilling, prompting him to seek a more community-oriented position. This quest led him to Kansas City, Missouri, where he took the helm of the first housing authority under federal receivership, stabilizing it within two years.

Jones’s extensive experience spans several major cities including Indianapolis, Detroit, Toronto, Chicago, and Atlanta. He noted the unique topographical challenges of the Virgin Islands, which vary significantly across St. Thomas, St. John, and St. Croix, necessitating innovative and collaborative approaches to housing development.

Despite his new surroundings, Jones is no stranger to managing housing agencies through crises, having coordinated relocation efforts after Hurricane Katrina in 2005. His firsthand experiences with disaster recovery highlight the resilience of the Virgin Islands community.

When questioned about his immediate priorities for VIHFA, Jones emphasized that he is still in the observational phase but acknowledged the Authority’s stable foundation, which he intends to enhance. He cited the homeowner assistance funds program as a particularly successful initiative. Despite recent revelations about the Authority’s substantial debts to the Water and Power Authority, Jones remains optimistic, focusing on resolving ongoing disputes and ensuring compliance with federal regulations to prevent the recapture of funds.

Jones is committed to increasing transparency within VIHFA’s operations, utilizing both social media and traditional media outlets. He teased a forthcoming homeownership initiative slated for June in St. Croix and St. Thomas and encouraged public engagement in discussions about future housing solutions, such as the potential for integrating commercial and residential spaces.

Throughout his dialogue, Jones conveyed a dedication to understanding the unique challenges of his new role and leveraging available resources to benefit the Virgin Islands community. He stressed the importance of humility, authenticity, and interpersonal skills in achieving the goals of the VIHFA.

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Development

$27 Million Boost for High-Speed Internet in the US Virgin Islands

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The US Virgin Islands are gearing up for a significant boost in high-speed Internet access as part of a national effort to ensure all Americans have affordable, reliable connectivity. This initiative falls under the Broadband Equity, Access, and Deployment (BEAD) program, which is a component of the broader Internet for All initiative.

The National Telecommunications and Information Administration (NTIA), an agency within the U.S. Department of Commerce, has earmarked over $27 million specifically for the US Virgin Islands. This funding is intended to enhance Internet connectivity by identifying residential and commercial areas that are currently without adequate service.

The first step in this ambitious project involves creating a comprehensive map to pinpoint which homes and businesses are underserved or completely unserved by current broadband infrastructure. This mapping will be accomplished through a collaborative process where designated “eligible challengers,” such as local governments, nonprofits, and Internet service providers, can submit data affirming or contesting the connectivity status of specific locations.

Once areas in need are accurately mapped, the allocated funds will be awarded through competitive grants. Internet service providers, community cooperatives, and similar entities will have the opportunity to apply for these grants to develop or enhance broadband networks, thereby expanding service to those previously underserved or unserved areas.

While individual residents and small business owners are not directly eligible to challenge or apply for the grants, they play a crucial role. The NTIA encourages them to collaborate with eligible organizations to ensure their connectivity needs are accurately represented in the final mapping.

Local authorities are poised to release more details on how and when stakeholders can submit their challenges and participate in this transformative project. This strategic investment not only promises to bridge the digital divide but also stimulates economic growth and enhances the quality of life for all residents of the US Virgin Islands.

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Champion Horse Owner Lesmore Smith Champions a World-Class Track for the BVI, Citing USVI Success

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Lesmore Smith, the owner of the victorious horse “Ghostinyou” and President of the BVI Horse Owners Association, has called on the British Virgin Islands (BVI) government to emulate their USVI counterparts by building a world-class horse racing facility. His horse clinched the Governor’s Cup and a $40,000 prize at a recent event in St. Thomas, marking the sport’s successful return.

In a post-race interview, Smith passionately argued for the BVI to construct its own premier racing venue, especially in the wake of the 2022 closure of the Ellis Thomas Downs due to a leasing conflict. He suggested the idle land on Beef Island, originally earmarked for a now-abandoned development, as an ideal site for this venture.

“Give us the land, $2 million, we can build a grandstand,” Smith proposed, underlining his commitment to creating a first-class racing track. He expressed confidence that with minimal investment, his community could establish a facility that would revive and sustain local horse racing.

The BVI Premier, Natalio Wheatley, reacted to Smith’s proposal by acknowledging its merit but did not make any definitive commitments. Wheatley emphasized that the government was considering all possibilities for the sport’s resurgence, with decisions to be made following upcoming consultations with stakeholders.

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PFA Eases Bond Requirement for Smaller Construction Projects

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During a special meeting on Monday, the board of the Public Finance Authority (PFA) approved a decision to increase the bond threshold for construction projects. This change is designed to alleviate the financial requirements for smaller contractors engaging with the PFA on various projects.

Historically, construction projects exceeding $250,000 required contractors to obtain bonds—a financial safeguard that ensures contractors fulfill their contractual obligations in terms of quality, timelines, and terms.

The shift in the PFA’s focus from predominantly procuring professional services to incorporating procurement construction projects has led to this adjustment. This shift is partly due to integrating the Office of Disaster Recovery into the PFA’s framework. Lorelei Farrington, staff counsel, highlighted the agency’s involvement in the EnVIsion Tomorrow program, which focuses on rebuilding and rehabilitating homes damaged by hurricanes. She noted that smaller contractors, who are often pivotal to these projects typically under $350,000, struggle to secure bonding due to stringent evaluations of their financial health by bonding companies.

Farrington proposed an amendment to the procurement procedure manual to exclude projects under $350,000 from the bonding requirement. This adjustment aims to streamline operations and accommodate the financial realities of smaller contractors who might have negative working capital.

Addressing potential risks associated with non-bonded projects, Adrienne Williams-Octalien, Director of the Office of Disaster Recovery, outlined measures such as enhanced PFA oversight through more frequent site visits and reviews, and bolstered construction management. Williams-Octalien emphasized that increasing the bond threshold allows for greater flexibility in managing project complexities and expanding the contractor base in the Virgin Islands.

She also acknowledged the economic challenges facing the construction sector, with rising costs necessitating an adjusted approach to project financing. The PFA plans to support these adjustments through training and additional support, ensuring project completion and mitigating potential risks.

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