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More Details On $50,000 Rental Unit Rehab Project Emerge: It's A 15-Year Forgivable Loan To Landlords

ST. CROIX – The Bryan administration is set to implement a $25 million rental unit rehab program, the governor confirmed in a recent interview with The Consortium, that will provide up to $50,000 per apartment to 500 landlords to repair their rental units. Robert Graham, executive director of the Virgin Islands Housing Authority (V.I.H.A.), said the upcoming program, set to launch no later than August (Mr. Bryan is pushing for a July launch) is the fastest way to make housing available and alleviate the rent crisis created after Hurricanes Irma and Maria in 2017. In an exclusive interview with the Consortium on Friday, Mr. Graham shared details of the program and explained that it is being implemented under the Virgin Islands Housing Finance Authority’s (V.I.H.F.A.) umbrella. Mr. Graham said the program is a $25 million line-item in the CDBG-DR action plan. He explained that out of all the programs outlined in the plan, the apartment rehab initiative is the one that has the most poten...