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Friday, March 29, 2024
HomeNewsLocal newsPFA Boosts 250-Year-Old Tourist Attraction and WAPA

PFA Boosts 250-Year-Old Tourist Attraction and WAPA

The PFA is funding repair work and landscaping at the historic 99 Steps on St. Thomas. (Source file photo)

Gov. Albert Bryan Jr. chaired the Public Finance Authority Board of Directors Thursday morning as it approved contracts and projects ranging from restoring the 99 Steps on St. Thomas to establishing lines of credit for the Water and Power Authority.

The final measure of the meeting, which came after an executive session closed to the public, was to approve a half-million dollar fee for Squire Patton Boggs to negotiate with Vitol for it to resume supplying WAPA with propane.

The establishment of $6 million lines of credit at FirstBank and Banco Popular for WAPA is through a grant agreement. The board approved the Office of Management and Budget and the Public Finance Authority to accept and administer an award of $6 million provided under the American Rescue Plan Act of 2021. The reserve at FirstBank will be $3,750,000 and at Banco Popular $2,250,000.

The board also authorized the execution of a Memorandum of Agreement between the Department of Public Works and the Public Finance Authority to provide for the restoration of the authority’s St. Thomas office building and the administrator’s office, and to pay up to $325,000 for the project from the PFA’s project fund.

Tourists who climb the 99 Steps in Charlotte Amalie as well as residents who use the steps to get between two places will find the going easier and more scenic soon. The PFA board approved the execution of an agreement between the Department of Public Works and the PFA to provide for the renovation, repair, and upkeep of Store Taarne Gade or, as it is more commonly known, the 99 Steps. The project will include handrails and solar lamps. The authority will pay the costs not to exceed $175,000. It will also budget annually for the landscaping of the grounds immediately abutting the 99 Steps.

The board on its agenda had several other fiscal items where cost adjustments were under $250,000. It approved a motion that would allow the director to implement those items at his discretion. One of those items was to award CrucianPoint a contract to host, maintain and update the PFA’s website. The website has been dysfunctional for at least two months.

Another item that fell under that motion was for Northwest Construction and Maintenance to provide required repairs and maintenance to the Frederiksted Mall. The work is to be done within 75 days and cost $50,270.

Thirdly, was a contract with Dion Construction for the demolition and build-out construction work to the first floor of the Office of Disaster Recovery offices on St. Croix. The term is for 60 days with an option to renew for an additional 60 days at a cost of $44,490.

Attending the meeting with the governor were Finance Commissioner Bosede Bruce, Office of Management and Budget Director Jenifer O’Neal, Dorothy Isaacs, and Keith O’Neale.

The board also heard the annual reports of its subsidiaries. Those will be the subject of a future Source article.

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