Economy

Sen. Frett-Gregory Asks Affordable Housing Management Companies, VI Housing Authority, to Consider Rent Deferment for Tenants

Senator Donna Frett-Gregory on Tuesday issued a call for affordable housing management companies operating in the U.S. Virgin Islands, along with the Virgin Islands Housing Authority to consider rent deferment for tenants, noting that the coronavirus pandemic and the stay-at-home order issued by the local government has severely impacted the finances of residents. "As stay-at-home orders extend through April 30, many experts project the damage to the Virgin Islands economy will extend far past any quarantine timeline,"  the release said. "Thousands of Virgin Islands residents, many of whom are hourly or service industry workers, will struggle to cover basic necessities in the coming months, including housing costs." According to Ms. Frett-Gregory, mortgage companies, both abroad and locally, are providing mortgage holders with the opportunity to defer payments, and private landlords are exploring creative ways to provide relief to tenants. But it appears that residents of affordable ...