Summary – EDA Public Hearing 20241114
1 Virgin Islands Economic Development Authority Public Hearing of Thursday, November 14, 2024 Summary During the Virgin Islands Economic Development Authority (USVIEDA) Public Hearing on Thursday, November 14, 2024, the USVIEDA Governing Board heard one (1) Hotel Development Act (HDA) application presentation. Application ▪ Haven Development, LLC - Hotel Development Act Application [Category III – Hotel/Guesthouse and other ancillary businesses associated with a hotel, Location: St. Thomas, VI] Haven Development, LLC (“Haven”) is requesting Virgin Islands Economic Development Authority approval pursuant to the Hotel Development Act (HDA), to secure 100% of Designated Hotel Occupancy Tax and the right to charge an Economic Recovery Fee (ERF) of 7.5% to support payment of the debt obligation to be incurred in connection with the development. The brand flag presently attached to the project is Hilton. Haven is developing a 126-room upper-midscale Hampton by Hilton hotel adjacent to the Havensite Mall on St. Thomas.
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1 Virgin Islands Economic Development Authority Public Hearing of Thursday, November 14, 2024 Summary During the Virgin Islands Economic Development Authority (USVIEDA) Public Hearing on Thursday, November 14, 2024, the USVIEDA Governing Board heard one (1) Hotel Development Act (HDA) application presentation. Application ▪ Haven Development, LLC - Hotel Development Act Application [Category III – Hotel/Guesthouse and other ancillary businesses associated with a hotel, Location: St. Thomas, VI] Haven Development, LLC (“Haven”) is requesting Virgin Islands Economic Development Authority approval pursuant to the Hotel Development Act (HDA), to secure 100% of Designated Hotel Occupancy Tax and the right to charge an Economic Recovery Fee (ERF) of 7.5% to support payment of the debt obligation to be incurred in connection with the development. The brand flag presently attached to the project is Hilton. Haven is developing a 126-room upper-midscale Hampton by Hilton hotel adjacent to the Havensite Mall on St. Thomas.