VIHFA Testimony - February 11 2026 Final Block II, Block II - Jackson Development Company — Housing, Transportation, and Telecommunications
TESTIMONY Committee on Housing, Transportation & Telecommunications Block II Presented by: Eugene E. Jones Jr. Executive Director February 11, 2026 Virgin Islands Housing Finance Authority 2 Good afternoon, Senator Marvin A. Blyden, Chairman Committee on Housing, Transportation & Telecommunications, members of the members of Committee and the listening and viewing audience. I am Eugene E. Jones Jr, Executive Director at the Virgin Islands Housing Finance Authority (VIHFA). Today I appear before you accompanied by Valdez Shelford, Chief Financial Officer, Alanah Lavinier, Deputy Chief Disaster Recovery Officer, Janine Hector, Director of Federal Programs and Jamillie Perez, Director of Housing Programs. The Authority’s involvement in the acquisition of Lovenlund Phase 1, Bellevue Village, and Calabash Boom was executed in accordance with the requirements of the HUD Community Development Block Grant–Mitigation Program. …
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TESTIMONY Committee on Housing, Transportation & Telecommunications Block II Presented by: Eugene E. Jones Jr. Executive Director February 11, 2026 Virgin Islands Housing Finance Authority 2 Good afternoon, Senator Marvin A. Blyden, Chairman Committee on Housing, Transportation & Telecommunications, members of the members of Committee and the listening and viewing audience. I am Eugene E. Jones Jr, Executive Director at the Virgin Islands Housing Finance Authority (VIHFA). Today I appear before you accompanied by Valdez Shelford, Chief Financial Officer, Alanah Lavinier, Deputy Chief Disaster Recovery Officer, Janine Hector, Director of Federal Programs and Jamillie Perez, Director of Housing Programs. The Authority’s involvement in the acquisition of Lovenlund Phase 1, Bellevue Village, and Calabash Boom was executed in accordance with the requirements of the HUD Community Development Block Grant–Mitigation Program. Under this program, Jackson Development Company (JDC) demonstrated that each property met HUD’s thresholds for long-term resilience investment and is in alignment with the Territory’s Mitigation Action Plan. JDC’s Developer Agreement was executed in December 2024 with first payment made in January 2025. Soon thereafter an adjustment was made to the scope of work which triggered a revaluation of the environmental review. The Authority continued providing technical assistance to the developer. JDC was issued a notice to proceed on November 7, 2025, for Lovenlund Phase 1 and January 29, 2026, for Bellevue Village and Calabash Boom. CDBG-MIT governs acquisition and mitigation activities, all three properties simultaneously remain subject to their Extended Low-Income Housing Tax Credit (LIHTC) agreements, which addresses affordability, tenant protections, and minimum property Virgin Islands Housing Finance Authority 3 standards. Homeownership conversion has not yet occurred and as such JDC continues to operate the properties as rental housing. In December, the Authority received a citizen complaint regarding conditions at the Calabash Boom property. VIHFA initiated a formal review and communicated all concerns to JDC. JDC has since addressed the issue with the wastewater treatment plant. it is JDC’s responsibility to fully address the complaint. Senators, this concludes my prepared testimony.