VI gov’t bank could spur lending, EDA head says
The Avis SUNDAY-MONDAY, MAY 26-27, 2013 NOAA predicts ‘extremely active’ hurricane season STEVE BULLOCK ST. CROIX — This hurricane sea- son could be active or extremely active, according to predictions by scientists at the National Oceanic and Atmospheric Administration. In its 2013 Atlantic Hurricane Season outlook issued last week, scientists at NOAA’s Climate Pre- diction Center said there is a 70 percent that 13 to 20 named storms will develop in the Atlantic basin between June 1 and Nov. 30. Of the 13 to 20 storms, NOAA said 7 to 11 could become hurri- canes with winds in excess of 74 miles per hour. The forecast calls for three to six major hurricanes (Cat- egory 3, 4 or 5) with winds higher than 111 mph. This year’s hurricane forecast is well above the seasonal average of 12 named storms, six hurricanes and three major hurricanes. Forecasters cite a number of fac- tors responsible for this year’s increased tropical cyclone activity. …
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The Avis SUNDAY-MONDAY, MAY 26-27, 2013 NOAA predicts ‘extremely active’ hurricane season STEVE BULLOCK ST. CROIX — This hurricane sea- son could be active or extremely active, according to predictions by scientists at the National Oceanic and Atmospheric Administration. In its 2013 Atlantic Hurricane Season outlook issued last week, scientists at NOAA’s Climate Pre- diction Center said there is a 70 percent that 13 to 20 named storms will develop in the Atlantic basin between June 1 and Nov. 30. Of the 13 to 20 storms, NOAA said 7 to 11 could become hurri- canes with winds in excess of 74 miles per hour. The forecast calls for three to six major hurricanes (Cat- egory 3, 4 or 5) with winds higher than 111 mph. This year’s hurricane forecast is well above the seasonal average of 12 named storms, six hurricanes and three major hurricanes. Forecasters cite a number of fac- tors responsible for this year’s increased tropical cyclone activity. These include a continuation of the atmospheric climate pattern, which includes a strong west African monsoon and warmer-than- average water temperatures in the tropical Atlantic Ocean and Caribbean Sea. In addition, El Niño is not expected to develop and sup- press hurricane formation, accord- ing to NOAA scientists. “This year, oceanic and atmos- pheric conditions in the Atlantic basin are expected to produce more and stronger hurricanes,” said Gerry Bell, lead seasonal hurricane forecaster with NOAA’s Climate Pre- diction Center. “These conditions include weak- er wind shear, warmer Atlantic waters and conducive wind pat- terns coming from Africa,” Bell stat- ed. NOAA’s forecast does not predict how many storms will make land- fall, or where a storm will strike. In April, Colorado State Univer- sity hurricane forecasters William Gray and Phillip Klotzbach issued a similar forecast for 2013. They are predicting that this year’s hurricane season will gener- ate 18 named storms, nine hurri- canes and four major hurricanes. According to Gray and Klotzbach, there is a 72 percent chance that a major hurricane will make landfall somewhere in the United States this year. The historical average of a hurricane hitting the U.S. is 52 percent. For the Caribbean, the forecast team is predicting a 61 percent chance that a major hurricane will impact the islands. The long-term average of a Caribbean land-falling hurricane is 42 percent. The forecast team warned that their annual predictions are only a best estimate and not an exact mea- sure of what is to come. ST. THOMAS-ST. JOHN Assaults: 12:25 a.m. Sat., Kirwan Terrace 9:48 a.m. Sat., East End 7 a.m. Sat., Main Street 11:36 p.m. Fri., Red Hook 7:50 p.m. Fri., Bernier’s Guest House Burglaries: 6:39 p.m. Fri., Pearl 6:25 p.m. Fri., Contant 4:49 p.m. Fri., Charlotte Amalie Larcenies: 11:38 a.m. Sat., Main Street 7:02 a.m. Sat., Contant Knolls 1:54 a.m. Sat., St. John Weapons/shots fired: 12:36 a.m. Sat., Hospital Ground 8:41 p.m. Fri., Oswald Harris Court Drugs: 12:09 a.m. Sat., St. John 11:10 p.m. Fri., West End Stalking: 5:28 p.m. Fri., West End ST. CROIX Assault: 5:51 p.m. Fri., Enfield Green Burglaries: 1:04 p.m. Sat., Mount Washing- ton 10:03 a.m. Sat., Sunny Isle 9:21 a.m. Sat., Whim Larcenies: 11:28 a.m. Sat., La Reine 9:41 a.m. Sat., William’s Delight 8:33 a.m. Sat., Morning Star 7:29 a.m. Sat., Coble Village 4:44 p.m. Fri., Christiansted Drugs: 9:32 p.m. Fri., Concordia Manor Stalking: 11:26 a.m. Sat., Mars Hill Police blotter Tuesday, May 28: The Committee on Culture, His- toric Preservation, Youth and Recre- ation has scheduled a meeting at the Frits E. Lawaetz Conference Room on St. Croix to receive a sta- tus report on revitalization efforts, ongoing and proposed projects, the boundaries of Christiansted and Frederiksted. This will include the scope of work for the Paul E. Joseph Stadium, St. Croix’s designation as a National Heritage Area, the Amer- icans with Disabilities Act compli- ance, Salt River National Historical Park and Ecological Preserve, National Park Service and under- ground utilities. Senate Calendar Andrew Wilkins The Economic Development Authority board approved a loan for renewable energy infrastructure for a St. Croix hotel that will save them $3,000 a month. VI gov’t bank could spur lending, EDA head says ANDREW WILKINS ST. CROIX — The govern- ment of the Virgin Islands should start its own bank because the territory’s pri- vate banks aren’t lending to small businesses, Percival Clouden, chief executive offi- cer of the Economic Develop- ment Authority, told the EDA board Friday. Also discussed at the meet- ing was legislation to improve the EDA, attracting busi- nesses associated with the Virgin Islands Next Genera- tion Network, and the con- sideration of Economic Devel- opment Commission benefits for three companies. Clouden said the govern- ment shouldn’t keep their money in banks that don’t serve the community. A VI government bank could do more for local businesses, he said. “The government has $600 to $700 million in deposits in local banks, and we need to pull those deposits and oper- ate as our own bank,” Clouden said. The model is already in place in the British Virgin Islands, and he said he will soon be meeting with the president of the BVI govern- ment bank to learn more. The idea was noted by the board, but little support was expressed. Albert Bryan Jr., board president and Labor commissioner, said the terri- tory is trying to attract more banks and such a move wouldn’t send a very good message. The lack of lending to local business was a frequent com- plaint during the meeting and many recent EDA discus- sions. Clouden, Bryan and several senators have all said that local banks aren’t meet- ing the requirements of fed- eral law when it comes to local lending — and senators said banks would soon be held accountable. The Virgin Islands Legisla- ture is considering changes to the law governing the EDA to make the program more attractive to businesses. Gov. John de Jongh Jr. is requesting several amend- ments to the law governing the EDA rather than a com- prehensive bill, Clouden said. The St. Thomas Chamber of Commerce wrote a letter detailing the changes the organization wanted. Bryan said he liked some of the sug- gestions and didn’t like oth- ers. Other organizations, specif- ically the St. Croix Chamber of Commerce, were encour- aged to submit their sugges- tion to the EDA program. The EDA Small Business Development Authority unan- imously approved a loan to a hotel for infrastructure upgrades, including solar energy equipment. Board members said the upgrades would save the business $3,000 a month. “This is helping infrastruc- ture for tourism, and creating capital to small business,” Bryan said. “This is a key thing, especially for St. Croix. This is what you call eco- nomic development at its best.” EDA officials asked that the name of the hotel not be pub- lished because it could impact the hotel’s competi- tiveness. Discussions of indi- vidual businesses usually take place in executive ses- sion, Bryan said. A diner on St. Thomas also sought a loan, but Clouden said the request was tabled because the owner owed gross receipts and occupancy taxes. More research will be done and then the project will be revisited, he said. Clouden said EDA loan recipients in default are already being taken to court. They are being submitted in groups of 30, he said, to avoid over-burdening the court. Attorney Henry Smock said efforts to increase collections were being stepped up and the staff should be com- mended for their efforts. There was discussion cen- tering around attracting Internet employers to the ter- ritory to benefit from the Vir- gin Islands Next Generation Network’s high-speed Inter- EDA, PAGE 5