The V.I. Economic Development Authority agreed Wednesday to reconsider Vitelco's EDC tax benefit extension application, according to a statement from EDA.The board will deliberate further on Vitelco's petition 2 p.m. August 1, in the V.I. Port Authority Conference Room St. Thomas.
Also Wednesday, the EDA's Government Development Bank Board of Directors approved approved two loan requests supported by its State Small Business Credit Initiative Program. One loan was through Merchants Commercial Bank and one through Banco Popular, for a total of $202,000.
Along with the Vitelco request, the EDA will look at the following new applications for tax exemption:
- Ocwen Mortgage Servicing, Inc. DSB – Business Consulting St. Croix,V.I.;
- Altisource Asset Management DSB – Business Consulting St. Croix,V.I. Corporation;
- STR Management, LLC DSB – Business Consulting St. Thomas,V.I.;
- IBG Benefits Management DSB – Business Consulting St. Croix,V.I. Company, Inc.
Anyone interested in the approval or disapproval of the applications may appear and be heard if they submit a written statement at least one day before the hearing to the Chief Executive Officer of the Economic Development Commission at No. 116 Kings Street, Frederiksted, St. Croix, US V.I. 00840; or fax to (340) 773-7701.