Summary – EZC Decision Meeting 20231214
Virgin Islands Enterprise Zone Commission Decision Meeting of Thursday, December 14, 2023 Summary During the Enterprise Zone Commission (“EZC”) Governing Board Meeting on Thursday, December 14, 2023, the Governing Board heard recommendations from the EZC Team regarding two (2) applications matters and voted as follows: Regular Session: ➢ Action Items: ▪ APPLICATIONS: 1. The Christiansted Sundial, LLC – EZC Tax Credit Program The Christiansted Sundial, LLC (“Csted Sundial”) has applied for Enterprise Zone tax exemptions to repair a building located in the Frederiksted Enterprise Zone at #52B Company Street, Christiansted, VI. Csted Sundial commits to investing $210,550 in the property and employing four (4) residents of the U.S. Virgin Islands – one (1) permanent full-time employee and three (3) temporary employees who are. The Governing Board voted (4 – 0 – 1) to: 1. Find that The Christiansted Sundial, LLC is eligible for the EZC Tax Credit Program. 2. …
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Virgin Islands Enterprise Zone Commission Decision Meeting of Thursday, December 14, 2023 Summary During the Enterprise Zone Commission (“EZC”) Governing Board Meeting on Thursday, December 14, 2023, the Governing Board heard recommendations from the EZC Team regarding two (2) applications matters and voted as follows: Regular Session: ➢ Action Items: ▪ APPLICATIONS: 1. The Christiansted Sundial, LLC – EZC Tax Credit Program The Christiansted Sundial, LLC (“Csted Sundial”) has applied for Enterprise Zone tax exemptions to repair a building located in the Frederiksted Enterprise Zone at #52B Company Street, Christiansted, VI. Csted Sundial commits to investing $210,550 in the property and employing four (4) residents of the U.S. Virgin Islands – one (1) permanent full-time employee and three (3) temporary employees who are. The Governing Board voted (4 – 0 – 1) to: 1. Find that The Christiansted Sundial, LLC is eligible for the EZC Tax Credit Program. 2. Find that The Christiansted Sundial, LLC is deserving of a grant of tax incentive benefits for #52 Company Street, Christiansted, St. Croix. 3. Grant of tax incentives shall be at 100% of the benefits authorized by law for a period of 10 years in accordance with the provisions of Title 29 V.I. CODE ANNOTATED, Chapter 19. 2. Paradise Essential Rentals, LLC and Dilsa Capdeville – Plan Program Paradise Essential Rentals, LLC and Dilsa Capdeville (“Paradise & Capdeville”) have jointly for Enterprise Zone tax exemptions to rehabilitate a two-story building located in the Graden Street & Upstreet Enterprise Zone at 5 & 6 Kongens Gade (Upstreet), Charlotte Amalie, VI. Paradise & Capdeville commits to investing $10,000 in the property and employing at least two (2) employees two (2) residents of the U.S. Virgin – new temporary employees. The Governing Board voted (6 – 0) to: 1. Find that Paradise Essential Rentals, LLC and Dilsa Capdeville is eligible for the Garden Street & Upstreet Plan Program. 2. Find that Paradise Essential Rentals, LLC and Dilsa Capdeville is deserving of a grant of tax incentive benefits for #5 & 6 Kongens Gade (Upstreet), Charlotte Amalie, St. Thomas. 3. Grant of tax incentives shall be at 100% of the benefits authorized by law for a period of 5 years in accordance with the provisions of Title 29 V.I. CODE ANNOTATED, Chapter 19 §1014(2). 4. Grant Paradise Essential Rentals, LLC the ability to utilize the income and gross receipts exemptions, and Dilsa Capdeville ability to utilize the property tax exemptions.