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1 WAYNE BIGGS, JR. CHIEF EXECUTIVE OFFICER VIRGIN ISLANDS ECONOMIC DEVELOPMENT AUTHORITY TESTIMONY BEFORE THE COMMITTEE ON DISASTER RECOVERY, INFRASTRUCTURE AND PLANNING “Heirs Property, Prolonged Probate, and Vacant & Abandoned Historic Properties in the U.S. Virgin Islands JANUARY 29, 2026 2 Good day Senator Marise C. James, Chairwoman, committee members, senators of the 1 36th Legislature, the legislative staff, the Virgin Islands Economic Development Authority team, 2 and the listening and viewing public. I am Wayne Biggs, Jr., Chief Executive Officer of the U.S. 3 Virgin Islands Economic Development Authority (hereafter referred to as “EDA” or “the 4 Authority”). 5 6 I would like to thank the Committee Chair and members of the Committee on Disaster 7 Recovery, Infrastructure and Planning for inviting me to provide testimony at todays hearing 8 regarding the challenges associated with unresolved heirs property and prolonged probate, 9 particularly where such delays contribute to vacant, abandoned, and deteriorating historic 10 properties, and to identify practical legal, administrative, and policy solutions. 11 12 Virgin Islands Economic Development Authority (USVIEDA) 13 The USVIEDA is the umbrella organization which assumes, integrates, and unifies the 14 functions of the following subsidiary entities: the Economic Development Bank (“EDB”), the 15 Economic Development Commission (“EDC”), the Enterprise Zone Commission (“EZC”), and the 16 Economic Development Park Corporation (“EDPC”). It is a semi-autonomous governmental 17 instrumentality responsible for the development, promotion and enhancement of the economy 18 of the U.S. Virgin Islands. 19 20 EDA promotes the development and diversification of the Territorial economy and 21 creates opportunities for the gainful employment of residents. It also promotes access to capital, 22 Wayne Biggs, Jr. Chief Executive Officer, VIEDA Thursday, January 29, 2026 3 contributes to the development of the educational system, and preserves the environment, 23 beauty, and natural resources of the Territory. We are a customer service-based organization 24 that creates positive public/private sector partnerships to promote economic growth, meet the 25 challenges of the global economy and serve the needs of the business community, while 26 embracing our unique heritage and preserving our pristine natural environment. 27 28 Under the direction of the governing board and hard work of our EDA team, the Authority 29 through its four (4) main pillars: the EDB, the EDC, the EZC, and the EDPC, facilitates economic 30 growth, job creation and retention, and wealth generation. 31 32 The Committee’s invitation requested that the Authority provide its “assessment of how 33 vacant and abandoned historic properties affect economic revitalization, small business 34 development, heritage tourism, and housing supply, as well as barriers heirs face in qualifying for 35 EDA programs due to unclear ownership.” Additionally, Committee expressed its” interest in how 36 unresolved property title and prolonged probate prevent property owners from accessing 37 economic development incentives, financing, and redevelopment programs.” 38 39 1. What are the challenges associated with unresolved heirs’ property and prolonged 40 probate, particularly where such delays contribute to vacant abandoned and deteriorating 41 historic properties? 42 Wayne Biggs, Jr. Chief Executive Officer, VIEDA Thursday, January 29, 2026 4 There are several challenges that contribute to vacant, abandoned and deteriorating historic 43 properties as a result of unclear property title because of unresolved and/or prolonged probate: 44 45 (a) The Inability to Secure Funding for Maintenance and/or Repairs: Even if some heirs are 46 willing to invest, they often cannot obtain loans or grants for necessary repairs or 47 improvements because they do not possess clear, singular ownership of the property. 48 This financial barrier is a major reason why historic buildings, despite potential interest 49 from some owners, remain unfixed and deteriorate. 50 51 (b) The Exponential Increase in the Number of Heirs: Over generations, the number of heirs 52 can grow from a couple to a few to several to dozens or even hundreds. It makes it 53 difficult to locate and notify heirs. And if you are able to locate and notify, it makes 54 achieving consensus on property management, repairs, or sale virtually impossible, 55 leaving historic properties in limbo and susceptible to decay. 56 57 (c) The Impact on Community Revitalization and Heritage Tourism: Vacant and abandoned 58 historic properties directly hinder efforts to revitalize distressed communities and detract 59 from the aesthetic and cultural value of historic districts. This negatively impacts heritage 60 tourism, which relies on the preservation and appeal of these unique historical assets. 61 62 Wayne Biggs, Jr. Chief Executive Officer, VIEDA Thursday, January 29, 2026 5 (d) The High Upfront Costs of Probate: Probate itself is not cheap, and if an estate is not 63 liquid, family members or the executor often have to pay upfront for the costs and the 64 attorney's fees. This financial burden can deplete resources that might otherwise be used 65 for property maintenance or as an initial investment required for redevelopment 66 programs. 67 68 (e) Other challenges include disinheriting of Virgin Islanders from heritage properties 69 (opposite of wealth building), higher level of crimes of opportunity, homeless squatting, 70 etc. 71 72 2. How does vacant and abandoned historic properties affect economic revitalization, 73 small business development, heritage tourism, and housing supply, as well as the barriers heir 74 face in qualifying for EDA programs due to unclear ownership. 75 76 (a) In a survey conducted in the enterprise zones during the summer 2025, it was found that 77 of the ______ properties reviewed, 92 buildings were in need of full rehabilitation and 78 many others are in need of some form of maintenance or rehabilitation. 79 80 (b) The presence of vacant buildings hinders the revitalization of those areas and the positive 81 growth of the economy that the EDA aims to achieve. More directly it hinders the ability 82 for business and residential activity to take place in our historic districts due aesthetics of 83 the buildings/area from the lack of investment in those properties. 84 Wayne Biggs, Jr. Chief Executive Officer, VIEDA Thursday, January 29, 2026 6 85 3. What are the existing EDA tools that could support adaptive reuse of historic 86 properties once the title issues are resolved? 87 88 (a) Enterprise Zone Commission (EZC) Initiatives: The EZC's core mission is to revitalize 89 distressed communities and get vacant buildings active again. The EZC can provide tax 90 incentive benefits to property owners and/or businesses that rehabilitate historic 91 buildings. Depending on the EZC qualifying program, EZC tax incentives can be in the form 92 of tax credits and/or tax reduction. 93 94 (b) EDB Initiatives: The EDB core mission is to provide access to capital for small businesses. 95 Small business owners can use qualifying loan funds to finance the rehabilitation, the 96 retrofit, or the purchase of a historic building to house or that houses their business. 97 (c) EDC Initiatives: The EDC core mission is to attract investment and create jobs throughout 98 the Territory. EDC Beneficiaries can and do purchase historic properties and rehabilitate 99 them to locate their business within the buildings, thereby creating renewed activity 100 within the area. 101 102 (d) VI Slice Program: The VI Slice Program core mission is to provide gap financing to fist time 103 homeowners. This program could potentially offer financing or support for 104 redevelopment efforts for residential activity. 105 Wayne Biggs, Jr. Chief Executive Officer, VIEDA Thursday, January 29, 2026 7 106 (e) Quest 360 Program (An EDA collaboration program of the EDB’s Incubator Program and 107 EZC’s Accelerator Program): This program provides technical assistance to support small 108 business to grow. 109 110 4. What has the EDA & EZC done to resolve issues in heirs’ property prolonged probate 111 and vacant and abandoned historic properties? 112 113 EDA-EZC have undertaken several initiatives to address the challenges posed by heirs’ 114 property, prolonged probate, and vacant/abandoned historic properties. Their efforts primarily 115 focus on education, community engagement, and advocating for solutions. 116 117 (a) Conference. The EZC has organized and relaunched free estate planning conferences 118 to share invaluable information about estate planning options and the probate 119 process in the U.S. Virgin Islands. These conferences aim to educate the public, 120 especially residents and business owners within enterprise zones, on the importance 121 of planning the transfer of personal and real property. These conferences have been 122 held in multiple locations, including St. Thomas and St. Croix, and have been 123 livestreamed on Facebook and broadcasted on radio to reach a wider audience. At 124 these conferences, legal counsels discuss probate issues and provide expert 125 information to attendees, including indebt discussion on trusts versus wills. 126 Wayne Biggs, Jr. Chief Executive Officer, VIEDA Thursday, January 29, 2026 8 127 (b) Webpage. The EZC has created a page on the EDA’s website, www.usvieda.org, that 128 allows anyone to enter a question and get a response based information provided by 129 the legal counsels at the EDA’s Estate Planning Conferences. This gives someone a 130 starting place in a private space to start their journey of dealing with this difficult 131 process. 132 133 (c) Direct Assistance. Through a pilot program funded by a grant from the Department 134 of Interior, the EZC has directly assisted several families in resolving their estate 135 panning /probate issues. These will be presented as potential best practices on how 136 to look at certain issues. 137 138 (d) Rejuvenations. In the past 12 months the EZC has completed 11 rejuvenations. 139 140 (e) Grants. Grant funding secured by the EDA team supports key areas such as business 141 expansion, entrepreneurship, job creation, and long-term wealth-building across the 142 Territory, positioning the Authority to deliver sustained impact and opportunity for 143 Virgin Islands residents. 144 145 Through these multifaceted efforts, the team at the EDA is working to empower property 146 owners and heirs with the knowledge and potential resources needed to resolve title issues, 147 Wayne Biggs, Jr. Chief Executive Officer, VIEDA Thursday, January 29, 2026 9 navigate probate, and contribute to the revitalization of historic properties and distressed 148 neighborhoods. 149 150 Thank you for the opportunity to provide testimony on the assessment of how vacant and 151 abandoned historic properties affect economic revitalization, small business development, 152 heritage tourism, and housing supply, as well as barriers heirs face in qualifying for EDA programs 153 due to unclear ownership. I am available to answer any questions you may have related to my 154 testimony. 155