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BIR URGES TAXPAYERS TO PICK UP REISSUED MAY 28, 2009 INCOME TAX CHECKS

Virgin Islands taxpayers are reminded that the reissued May 28, 2009 income tax refund checks are available for pick up from the Bureau's offices on all three islands. Taxpayers are asked to bring one photo ID with proof of their social security number in order to claim the reissued checks. Taxpayers are also reminded to return the incorrect check to the Bureau's offices, if they haven't already done so.

"Taxpayers who have already negotiated the incorrect refund check are urged to contact the Bureau immediately to make arrangements to repay any overpayment. Those taxpayers who may have already cashed a check for an amount less than was owed are also asked to contact the Bureau for additional instructions," said BIR Director Claudette Watson-Anderson.

The Bureau's staff is available to address both taxpayer situations on a priority basis. Questions should be directed to the Bureau's Processing Branch at (340) 715-1040, ext. 4221 on St. Croix, ext. 2257 on St. Thomas and 777-1446 on St. John.

St. Croix Real Estate Update

Real estate update from St. Croix Realtor David Fedeles

SUMMER IN ST. CROIX! It's a great time to relax, take a breather, and enjoy the slower pace of summer. It kicks off w/ a BANG w/ the ST. CROIX HALF IRONMAN TRIATHLON 70.3 on the first Sunday in May. And here I am "Jumping Up" with Tim O'Donnell at our festive 'street fair' teeming with local vendors and entertainment on Friday evening before the race. Tim became the Men's Champion two days later after several previous attempts, which placed him near the top in close races...and this year he also broke the course record. Congratulations TIM and Catriona Morrison of Scotland who was the Women's Champ! At sunrise on Sunday, participants took to the harbor for the first phase of this race for a 1.24 mile swim followed by a 56 mile bike race ar ound the island and up the famous .7 mile hill called "The Beast" which starts at a 14% grade to a grueling 21% grade. The last phase of the race is a 13.1-mile run....a great event for the athletes and the island!

DITLEFF POINT

A "once in a lifetime" offering of spectacular waterfront homesites in coveted Ditleff Point, St. John, United States Virgin Islands. Ditleff Point amenities include a tastefully landscaped native stone gated entry, paved roadways with scenic overlooks, underground utilities, and a common white sandy beach.

www.ditleffpoint.com

CZM Says 'No' to Mandahl Development

Some St. Thomas news from The Source:

March 26, 2009 -- While only half filled with people, the Lockhart Elementary School auditorium reverberated with cheers and applause Thursday night after the St. Thomas Coastal Zone Management Committee shot down a proposal for a large-scale marina and housing development in Estate Mandahl.

Diageo Lays Out Green Plan at CZM Hearing

Some news that is a little old but I had been meaning to post - from The Source:

March 19, 2009 -- The Captain Morgan's rum distillery planned for St. Croix will release no molasses or other effluent into the sea, instead converting it to organic solids suitable for soil enrichment, Diageo officials told the V.I. Coastal Zone Management committee Wednesday. At the committee's public hearing on the Diageo CZM permit in the Henry E. Rohlsen Airport conference room, officials outlined an array of measures being taken to make the distillery both efficient and low-impact and emphasized their commitment to hire and train locally.

Senate Committee Fails to Vote on Thatch Cay Development

The St. Thomas Source has an article up about the Thatch Cay development application:

" March 11, 2009 -- Banging the gavel a little after midnight Thursday, Sen. Alvin L. Williams announced that after six hours of debate, senators would continue discussion and possibly vote on an application for the development of Thatch Cay at another hearing scheduled for later in the month.

The meeting kicked off around 6 p.m. Wednesday, with community members -- many of whom have long spoken out against the proposed development -- packing the legislative chambers on St. Thomas. Williams, head of the Senate's Planning and Environmental Protection Committee, said later that he didn't want to rush the vote on the application, but instead give residents and senators who were not able to make it to the hearing another chance to testify and ask questions on March 27. "

This story - and the planned project - has been going on for a long, long, time. It is sort of interesting to see the developers still pushing with the current economic conditions - I would assume they have the funding to go forward - but any projects of this nature at the moment seem a little dubious to me.

Allen Stanford's assets on St. Croix

From Reuters:

CHRISTIANSTED, U.S. Virgin Islands (Reuters) - Texas billionaire Allen Stanford, charged by U.S. securities regulators with an $8 billion (5.5 billion pounds) fraud, has purchased at least $34.7 million worth of property and leased 37 acres of land for about $805,000 per year on the Caribbean island of St. Croix.

Follow the link above for the list of properties.

CZM Gives Green Light to Williams and Punch Resort on St. Croix

The St. Thomas Source is reporting the following:

Jan. 14, 2009 -- The V.I. Coastal Zone Management committee Wednesday evening approved the CZM permit for the Amalago Bay resort development project in estates Williams and Punch, moving the half-billion-dollar-plus project one major step forward.

Mandahl Throng Gathers To Fight Development

People are trying to halt progress on St. Thomas!

Nov. 30, 2008 -- The residents of Estate Mandahl aren't keeping quiet any longer. After their debut on the radio last week, the group met by the hundreds Sunday afternoon to publicly oppose a large-scale marina and residential housing development proposed for their area, and made plans to fight the project till the very end.

Small Business Administration Declares St. Croix a Disaster Area

Good news (in a way) for St. Croix business owners - while Omar did cause damage and real problems, at least the government is stepping up and making these programs available:

Nov. 2, 2008 -- Thanks to Hurricane Omar, the U.S. Small Business Administration issued a disaster declaration for St. Croix. This will enable St. Croix residents and businesses affected by Hurricane Omar to apply for SBA low-interest physical disaster loans and economic injury disaster loans. The Federal Emergency Management Agency and the SBA "did an assessment and there was some need," said Jacqueline Heyliger, deputy director of the V.I. Territorial Emergency Management Agency, on Sunday. The SBA declaration, coupled with a disaster declaration by President Bush, will allow for timely assistance for those most impacted by Hurricane Omar, according to Gov. John deJongh Jr. The deadline to apply for a physical disaster loan is Dec.15. Application deadline for the economic injury disaster loan is July 31, 2009.

More here from the Source.

PSC Schedules Hearings on Vitelco, Ferry Companies' Rates

From the Source:

Oct. 30, 2008 -- The V.I. Public Services Commission will hold four hearings to get public input as part of rate investigations of Vitelco and on the ferry companies plying the St. Thomas-St. John circuit.

The PSC has oversight of utility rates, with a mandate to ensure rates are reasonable and non-discriminatory. Under V.I. Code, since 2001 the PSC must perform a rate review every five years on its regulated utilities. The last review for Vitelco was in April 2003 and the last rate schedule was approved in August 2003, so a new rate review is required by law.

Vitelco parent Innovative Communications is in Chapter 11 bankruptcy proceedings, and Vitelco is slated to be sold to pay some of Innovative's debts. But efforts to sell these corporate entities have been complicated by both the global credit crunch and, locally, by the lack of clarity (for potential buyers) of the Vitelco rate structure. As a result, the corporate-sales efforts were suspended earlier in the summer, while sales continued for other assets of ex-Innovative CEO Jeffrey Prosser, such as works of art, expensive automobiles and real estate.

Chamber of Commerce membership luncheon Oct. 31

HOVENSA TO ADDRESS THE CHAMBER MEMBERSHIP

The St. Thomas-St. John Chamber of Commerce will host a membership luncheon on Friday, October 31st at the Holiday Inn Windward Passage at 12:00 Noon. The guest speaker for the luncheon is Mr. Lawrence J. Kupfer. Mr. Kupfer has been President and Chief Operating Officer of HOVENSA L.L.C., a 500,000 barrel per day joint venture refinery owned by Hess Corporation and Petroleos de Venezuela (PDVSA) since October 2003. Mr. Kupfer has over 25 years of refining experience, including 12 years involvement with the St. Croix refinery. His refining experience has included assignments in construction, technical services, operations, accounting, supply and trading, and administration.

As President and Chief Operating Officer of HOVENSA L.L.C., he has continued the company's program for excellence in refining. The refinery has significantly improved its safety record and overall levels of utilization.

According to Joe Aubain, Chamber Executive Director, "Mr. Kupfer will address Hovensa's impact on the local community and its position in the world market".

The luncheon will be held at the Restaurant at Holiday Inn - Windward Passage and begin promptly at 12:00 Noon. Members will have an opportunity for questions following Mr. Kupfer's presentation. The cost for the luncheon is $35.00 for Chamber members and $40.00 for non-members. Reservations are requested and can be made by calling the Chamber office at 776-0100.

Court Ruling Will Allow Government to Reissue FY 2006 Tax Bills

From the St. Thomas Source:

Oct. 12, 2008 -- A court-approved freeze on the recent property-tax bill recall will allow the government to reissue fiscal year 2006 bills and collect the revenue it needs to sustain the FY 2009 budget, according to government officials.

Jumeirah to Manage The Preserve at Botany Bay, St. Thomas

Timbers Resorts appointed Jumeirah Group, the Dubai-based luxury international hospitality management group and member of Dubai Holding, to manage the property formerly known as The Preserve at Botany Bay. The luxury, multi-use resort, is scheduled to open in 2011 under the name Jumeirah Botany Bay Resort, and will occupy the entire western tip of St. Thomas. The 400-acre property will include a five-star, 84-room boutique hotel managed by Jumeirah, as well as 30 fractional residences, 30 whole ownership villas and up to 20 grand estates managed by Jumeirah Living. For further information, visit timbersresorts.com.

Planning For Economic Development in the U.S. Virgin Islands

The Virgin Islands Economic Development Authority will be hosting Public Workshops Moderated by CIPA, Inc. on "Planning For Economic Development in the U.S. Virgin Islands"

Come and play an active role in planning the future of economic development in the Virgin Islands. Provide your opinions and insight as a citizen and/or business owner in our territory on some the following issues:

1) How can the EDA improve the current economic development situation in the Territory ?

2) What is your vision for economic development in the Territory?

3) How can the public participate in economic development?

4) What should be the goals & objectives for economic development in the Territory?

5) What are the greatest challenges for the economic development of the Territory?

September 30 @ The V.I. Port Authority Conference Room at The Henry Rohlsen Airport in St. Croix

October 1 @ Victor's Hideout Conference Room in St. Thomas

October 2 @ The St. John Legislature Conference Room (behind the former Hilltop Bldg.) in Cruz Bay, St. John 6:30 p.m.

If you would like to attend or need further information, please contact the EDA at 714-1700, ext. 258 by September 29, 2008.