The Louis E. Brown Housing Community on St. Croix, owned by the Virgin Islands Housing Authority Photo Credit: V.I. CONSORTIUM.
The V.I. Housing Authority is making "tangible progress" toward stabilizing its operations and expects to be removed from the federal "troubled" designation as early as June 2026, says Executive Director Dwayne Alexander..
During a board meeting on Wednesday, Mr. Alexander noted that the agency is actively meeting performance targets across finance, redevelopment, and compliance following an agreement with Housing and Urban Development reached last October. “We have been working on this recovery plan strategically each month,” he said.
The authority's financial position has been significantly strengthened. VIHA is currently operating with a positive cash flow and maintains approximately six months of operating reserves. This exceeds HUD's recommended minimums, Mr. Alexander told board members. Occupancy rates hover between 91 and 92 percent, he said. While this figure meets HUD minimum thresholds, Mr. Alexander notes that this is below VIHA’s target of 95 percent. Current vacancies are largely the result of units being rehabilitated, modernized, and repositioned for home ownership, he said. To reduce the downtime of these units, families are being pre-qualified so that they are able to lease units as soon as they are completed.
Despite the forward momentum, a significant long term challenge remains: tenant accounts receivable. Mr. Alexander noted that outstanding balances exceed $1 million. That debt, however, is concentrated “among a relatively small number of households with high debt balances.” VIHA is addressing the issue by strengthening collection strategies, improving payment systems, and increasing communications with residents, said Mr. Alexander. “While progress has been made, continued oversight is necessary to protect the Housing Authority’s financial health." VIHA Board Commissioner Noreen Michael suggested the agency consider an "amnesty period" or financial incentives to encourage residents to settle long-standing balances.
Overall, however, the executive director remained confident, noting a 16-point jump in physical condition scores. "We think we will be off the troubled list with the next reporting," Alexander told the board, citing June as the target date.
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