U.S. Virgin Islands
U.S. Virgin Islands OFFICE OF DISASTER RECOVERY Revenue Estimating Conference March 25, 2022 Adrienne L. Williams-Octalien Director Get Funds • Secure Funding for projects • Foster vital federal partnerships (FEMA, HUD, DOT) • Resolve recovery issues • Provide resources to manage and progress projects Spend the Funds • Track project Statuses • Host status meetings and issue notifications to encourage expenditure of funds • Process vendor payments • Track GRT Spend Correctly • Conduct Audits & Monitoring • Manage recovery consultants • Implement capacity improvement measures through trainings, workshops, outreach and additional support staff • Website (www.usviodr.com) • Social Media Communications • Recovery In Focus • Press Releases 2 Disaster Recovery: Funding Snapshot FEMA PA; $5,350,000,000; 67% HMGP; $475,000,000; 6% HUD; $1,900,000,000 ; 24% DOT; $75,000,000; 1% Other Funds; $200,000,000; 2% Anticipated $8B in Funding by Program FEMA PA HMGP HUD DOT Other Funds 3 FEDERAL DISASTER ASSISTANCE GRANTS Feb - 2022 FEDERAL DISASTER ASSISTANCE GRANTS SUMMARY Funding Sources Anticipated …
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U.S. Virgin Islands OFFICE OF DISASTER RECOVERY Revenue Estimating Conference March 25, 2022 Adrienne L. Williams-Octalien Director Get Funds • Secure Funding for projects • Foster vital federal partnerships (FEMA, HUD, DOT) • Resolve recovery issues • Provide resources to manage and progress projects Spend the Funds • Track project Statuses • Host status meetings and issue notifications to encourage expenditure of funds • Process vendor payments • Track GRT Spend Correctly • Conduct Audits & Monitoring • Manage recovery consultants • Implement capacity improvement measures through trainings, workshops, outreach and additional support staff • Website (www.usviodr.com) • Social Media Communications • Recovery In Focus • Press Releases 2 Disaster Recovery: Funding Snapshot FEMA PA; $5,350,000,000; 67% HMGP; $475,000,000; 6% HUD; $1,900,000,000 ; 24% DOT; $75,000,000; 1% Other Funds; $200,000,000; 2% Anticipated $8B in Funding by Program FEMA PA HMGP HUD DOT Other Funds 3 FEDERAL DISASTER ASSISTANCE GRANTS Feb - 2022 FEDERAL DISASTER ASSISTANCE GRANTS SUMMARY Funding Sources Anticipated (Estimates) Allocated Obligated Expended FEMA PA $5,350,000,000 $3,813,665,859 $3,813,665,859 $2,324,505,252 HMGP $475,000,000 $461,878,749 $101,789,401 $14,285,916 HUD $1,900,000,000 $1,863,742,000 $1,075,489,884 $185,012,557 DOT $85,000,000 $80,536,756 $61,176,247 $38,117,336 Other Funds $190,000,000 $176,461,397 $176,461,397 $51,320,034 TOTAL $8,000,000,000 $6,396,284,762 $5,228,582,789 $2,613,241,096 80% 65% 33% 80% 65% 33% $8B Current Status Expended Obligated Allocated Revenue Estimation Assumptions The U.S. Virgin Islands will collect tax revenues from funded disaster projects based on the contractor’s gross receipts. FY2023 and FY2024 budgeted revenue projections are based on disaster related projects that are both currently obligated and those that are expected to be obligated through FY23 across 4 main funding sources. Over $1B of obligated and soon to be obligated funded projects are expected to impact the FY23 and FY24 budgeted revenue projections. Over 200 projects are expected to be in the design and construction phases during FY23 and FY24. Recovery projects also impact other forms of revenue such as licenses, permits, fees, housing, and spend within the community and economy. 4 The Battery Ribbon Cutting, St. John Revenue Performance –Actuals 5 Actuals FY2022 Q1 Funding Source Q1 2022 - Actuals Q1 2022 - Projections PA $ 7,454,562 $ 4,157,411 HMGP $ 65,946 $ 248,206 CDBG-DR $ 289,361 $ 227,693 FHWA-ER $ 314,436 $ 711,751 TOTAL $ 8,124,305 $ 5,345,061 34% Expenditure Projections– FY2023 & FY2024 6 Projections and adjustments developed in conjunction with administering agencies for the CDBG-DR program (VIHFA) and FHWA-ER (DPW). FY2023 Funding Source FY 2023 Projections PA $ 767,536,389 HMGP $ 29,538,250 CDBG-DR $ 24,363,157 Other Funds $ 27,068,208 FHWA-ER $ - Multiple $ 69,377,228 TOTAL $ 917,883,231 FY2024 Funding Source FY 2024 Projections PA $ 746,180,919 HMGP $ 9,726,606 CDBG-DR $ 2,963,677 Other Funds $ 7,750,122 FHWA-ER $ - Multiple $ 214,606,940 TOTAL $ 981,228,263 Revenue Estimate Snapshot – FY2023 & FY2024 7 Projections and adjustments developed in conjunction with administering agencies for the CDBG-DR program (VIHFA) and FHWA-ER (DPW). FY2023 and FY2024 Total Estimated Revenue FY23 $ 45,894,162 FY24 $ 49,061,413 Revenue Breakdown FY2023 FY2024 Revenue Category Project Counts GRT FY 2023 Projections Funding Source Project Counts GRT FY 2024 Projections PA 190 $ 38,376,819 PA 87 $ 37,309,046 HMGP 25 $ 1,476,912 HMGP 8 $ 486,330 CDBG-DR 8 $ 1,218,158 CDBG-DR 4 $ 148,184 Other Funds 11 $ 1,353,410 Other Funds 9 $ 387,506 FHWA-ER $ - FHWA-ER $ - Multiple 17 $ 3,468,861 Multiple 19 $ 10,730,347 TOTAL 251 $ 45,894,162 TOTAL 127 $ 49,061,413 Revenue Summary Significant Recovery Projects - FY 23 & 24 WAPA Electrical Improvement Projects - Randolph Harley New Generation - Composite Pole Installation - Undergrounding Projects Major Education Projects - Arthur Richards Junior High - CAHS Demolition Several Road Projects Health Facilities - Charlotte Kimelman Cancer Center - Myrah Keating Smith Clinic - Charles Harwood Medical Complex Thank You! Contact: Director, Adrienne L. Williams- Octalien Governor’s Authorized Representative (GAR) 8 Phone: (340)778-8135 (STX) (340)714-1635 (STT) Website: www.usviodr.com Email: info@usviodr.com Any Questions?