HUD approved $45 million in mitigation funding for WAPA propane terminal acquisition

Government House said on July 29, 2024, that the U.S. Department of Housing and Urban Development approved the final $45 million in Community Development Block Grant Mitigation funding tied to a grant agreement involving the Virgin Islands Water and Power Authority, the Virgin Islands Housing Finance Authority and HUD.

According to the administration, the funding was to repay a line of credit from the Virgin Islands government that had been used as a good-faith payment to secure an acquisition agreement between WAPA and VITOL for two propane terminals at the Randolph Harley and Estate Richmond power plants.

Official source: https://www.vi.gov/u-s-department-of-housing-and-urban-development-approves-45-million-in-cdbg-mit-funding-for-completion-of-propane-terminals-acquisition-by-virgin-islands-water-and-power-authority/