DEVELOPER AGREEMENT
DEVELOPER AGREEMENT BETWEEN Virgin Islands Housing Finance Authority AND Jackson Development Company FOR THE Resilient Multifamily Housing Program THIS DEVELOPER AGREEMENT ("Agreement"), is entered this R._ ~f December, 2024 by and between the Virgin Islands Housing Finance Authority (herein called "Grantee") Jackson Development Company (herein called "Developer") WHEREAS, the Grantee has applied for and has been awarded funds from the United States Department of Housing and Urban Development (HUD) for a Resilient Multifamily Housing Program, which is referred to herein as "RMHP"; and WHEREAS, the Grantee wishes to engage the Developer to assist the Grantee in using a portion of the RMHP allocation in accordance with applicable notices, regulations and guidance from HUD· ' NOW, THEREFORE, it is agreed between the parties hereto that; I. Program Description The primary objective of the Real Property Acquisition and Homeownership Conversion Program, as stipulated in this agreement, is to facilitate the acquisition, rehabilitation, development, and sale of affordable housing. …
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