Congresswoman Stacey E. Plaskett, a member of the House Ways and Means Committee, released the following statement regarding a grant totaling $7,358,173.20 in federal funding to the Virgin Islands Economic Development Authority:
“Today, I am pleased to announce a grant from the U.S. Department of Homeland Security’s Federal Emergency Management Agency. The grant is for $7,358,173.20 in federal funding to the Virgin Islands Economic Development Authority. During hurricanes Irma and Maria, VIEDA suffered extensive damages to the V.I. Industrial Park Development Corp Building. The warehouse of this facility is leased to small business ventures. The final scope of work consists of demolition of the existing facility and replacing the existing building.
The cost to restore the building to its pre-disaster condition would meet or exceed 50 percent of the structures’ market value. This project was evaluated for replacement of the building under the ’50 percent Rule’ and found to be eligible. All cost estimates for work to be completed and structure replacement were generated using a Cost Estimate Format (CEF) by Received Standard (RS) means. Mitigation was achieved through current codes and standards.
“This important grant will benefit the Virgin Islands tremendously with our ongoing rebuilding efforts and making the Virgin Islands whole again. The United States government and the international community has an obligation to work with the affected local governments to restore infrastructure, provide critical humanitarian assistance and help rebuild our islands.”