UVI Medical School Project Will Use $30 Million Gift To Make Loan Payments Following Board Approval

ST. CROIX – The University of the Virgin Islands Board of Trustees voted Monday to authorize UVI President David Hall to use the $30 million gift from Dr. Chirinjeev Kathuria to help fund a state-of-the-art medical school. The loan to build the school will be co-signed by Dr. Kathuria with loan payments paid through the proceeds of the gift, according to the measure that passed unanimously in executive session with 11 trustees voting in favor The announcement of Dr. Kathuria’s gift came in April 2014. Also in the executive session that is closed to the press, the board approved the selection of Dale LeFebvre to the board of directors for the Foundation for the University of the Virgin Islands (FUVI). LeFebvre is an entrepreneur and the founder and chairman of Oson VI, LLC, a management, consulting and investment advisory firm. He has raised and managed over $1 billion for investors, institutions and money funds. President Barack Obama recently appointed LeFebvre to the Advisory Committ...