Summary – EDB Decision Meeting 20250911
1 Economic Development Bank for the U.S. Virgin Islands (EDB) Governing Board Decision Meeting Thursday, September 11, 2025 Summary Report During the Economic Development Bank for the U.S. Virgin Islands (“EDB”) Decision Meeting on Thursday, September 11, 2025, the Governing Board heard from staff regarding two (2) loan servicing matters, and voted as follows: Regular Session: ❖ Action Item: 1. Derick Deport – Release of Collateral Derick Deport (“Deport”) was granted a $72,000 loan in October 2008 to assist with purchasing a Ford E450 Coach Bus, provide working capital, and consolidate debts Deport is seeking a release of the lien on three (3) taxi medallions held as collateral to secure the loan. Deport’s outstanding loan balance was settled in September 2023. The Board voted (5 – 0) to: • Authorize the Chief Executive Officer to execute and deliver to the Deports a Release of Lien for the three taxi medallions with serial numbers 0352 and 0490 registered to Derick Deport and 0217 registered to Marian Deport held as collateral to secure the loan. 2. …
Download the original document · Plain text (TXT) · Browse the archive · How this archive works
Original source: https://usvieda.org/wp-content/uploads/2025/09/Summary-EDB-Decision-Meeting-20250911.pdf
SHA-256 ef2ad9f0ff4b529b711d4d190be2e9aba8f0222589b15937ae0f799262189242
Re-using this document
An instrumentality of the Government of the Virgin Islands. No rights are stated anywhere: the document carries no copyright notice and the body publishes no terms of use. 17 U.S.C. § 105 does not reach territorial government, so nothing makes it public domain by operation of federal law — it publishes as a territorial public record, and we say plainly that the position is unstated rather than settled.
Our description, tagging, arrangement, extracted text and machine transcripts are released under CC0 1.0. We assert nothing about the document itself.
Archive identifier LF-ef2ad9f0ff4b
Document text
1 Economic Development Bank for the U.S. Virgin Islands (EDB) Governing Board Decision Meeting Thursday, September 11, 2025 Summary Report During the Economic Development Bank for the U.S. Virgin Islands (“EDB”) Decision Meeting on Thursday, September 11, 2025, the Governing Board heard from staff regarding two (2) loan servicing matters, and voted as follows: Regular Session: ❖ Action Item: 1. Derick Deport – Release of Collateral Derick Deport (“Deport”) was granted a $72,000 loan in October 2008 to assist with purchasing a Ford E450 Coach Bus, provide working capital, and consolidate debts Deport is seeking a release of the lien on three (3) taxi medallions held as collateral to secure the loan. Deport’s outstanding loan balance was settled in September 2023. The Board voted (5 – 0) to: • Authorize the Chief Executive Officer to execute and deliver to the Deports a Release of Lien for the three taxi medallions with serial numbers 0352 and 0490 registered to Derick Deport and 0217 registered to Marian Deport held as collateral to secure the loan. 2. Steppin Up Promotions Inc – Offer In Compromise Steppin Up Promotions, Inc. (“Steppin Up”) was granted a $150,000 loan in March 2012 to acquire the business assets of Johleo, LLC d/b/a Subway located in Orange Grove, Christiansted, St. Croix. The total purchase price of $195,000. Steppin Up is seeking a release of the collateral real estate in exchange for compromise payment to settle the disputed outstanding loan balance. The Board voted (5 – 0) to: 1. Authorize the Chief Executive Officer to execute and deliver a Release of Mortgage to Massive Management and Consultants, LLC, on behalf of the borrower, Steppin Up Promotions, Inc. 2. Accept a compromise payment of $3,314 as full and final settlement of the loan account #182-01-01. 3. Classify the account as settled for less than full amount and update all internal records accordingly.