The Virgin Islands Water and Power Authority is making significant strides in its acquisition of the Vitol propane terminal facilities, Gov. Albert Byran Jr. announced.
Bryan confirmed on Friday that WAPA’s second payment of $100 million for the proposed $145 million buyout of Vitol Inc. LPG Infrastructure has been extended to April 15, 2024. This extension marks a pivotal moment in the Authority’s financial planning and acquisition strategy, according to the press release.
The governor highlighted WAPA’s successful submission and acceptance of the necessary documentation for its HUD grant application. Accepted as complete on Dec. 1, this application paves the way for the use of $145 million in Community Development Block Grant mitigation (CDBG-MIT) funds. These funds are crucial for WAPA’s acquisition of the Vitol propane terminals, signifying a major step forward in this endeavor, the press release stated.
The Virgin Islands Housing Finance Authority is also moving forward to complete the grant process. Bryan expressed his deep appreciation for the ongoing efforts of the Virgin Islands Housing Finance Authority Interim Executive Director and Chief Disaster Recovery Officer Dayna Clendinen and her team in processing WAPA’s grant application. Bryan eagerly anticipates the formal approval from HUD and the funding ahead of the April 15, 2024, deadline, emphasizing the importance of this project for the territory’s future, the release stated.
Bryan also underscored his recent advocacy efforts with the Virgin Islands Legislature to secure funding. This initiative addresses accounts receivable for both of the territory’s hospitals and the Virgin Islands Waste Management Authority, all of which operate autonomously within the Virgin Islands Government, it said.
In his statement, Bryan noted, “Stabilizing WAPA remains one of my top priorities.” He recalled mentioning this commitment in his 2023 State of the Territory Address. The governor reflected on the significant strides made since his first year in office, addressing years of non-payment to WAPA by the Virgin Islands Government. “We have not only paid down the tens-of-millions owed to WAPA by the central government but have also prioritized ensuring that our government remains current on its bills to WAPA,” he stated.
The government of the Virgin Islands continues to provide unwavering support and resources to stabilize WAPA. This initiative is part of a broader strategy to ensure a sustainable and stable future for the Virgin Islands’ utility services, according to the release.
