Act No. 7054 (27th Legislature) — An Act to approve a development plan for purposes of a Tax Increment Financing project, pursuant to 29 V.I.C. §1210, for the Island Crossing
AISI LI AINENR ATE ET ED ANE LE OIBE OEE ENS ISG REL LENA SIEVE ION EAE ES LION seer a ED { | { 3 i q i ACTNO. 70054 BILL NO. 27-0253 TWENTY-SEVENTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2008 An Act to approve a development plan for purposes of a Tax Increment Financing project, pursuant to 29 V.I.C. §1210, for the Island Crossings Shopping Center project on the island of St. Croix, and to authorize the issuance of debt obligations in connection with the financing of certain eligible costs for the project, including the establishment of the maximum principal amount, date of maturity and maximum interest rates with respect thereto the debt obligations ---0--- WHEREAS, the Government of the Virgin Islands has created a mechanism through Act 7004, which created the Tax Increment Financing Program Act to address areas within the Virgin Islands that are underdeveloped and in need of revitalization; and WHEREAS, On September 10, 2008, the Economic Development Authority after conducting a public hearing, as required by the TIF Act, certified a development project proposed by CDP …
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