Senators who make up the Committee on Finance on Friday approved a lease agreement between Department of Property and Procurement and the Cruzan Group, LLC d\/b\/a Ay-Ay Palace.<\/p>\n
The measure, Bill No. 32-0126, will allow for a new start-up restaurant to be built in the historic Oscar Henry Customs House in Frederiksted. In addition to the upscale casual dining second-floor restaurant, other plans include a ground floor museum of the scale house for tourist and visitors alike.<\/p>\n
Committee Chairman Kurt Vialet, a supporter of the measure, said now is the right time to invest in St. Croix\u2019s restaurant industry. \u201cSt. Croix\u2019s restaurant industry is doing extremely well. The restaurants in the town of Christiansted are filled every night \u2013 during peak-season and during off-season. There is a need for additional restaurants of this type in Frederiksted,” he said.<\/p>\n
According Cruzan Group LLC member Toney Laurencin, the company’s main mission with this project is to help revitalize Frederiksted area. With an investment of up to $400,000.00, the Cruzan Group, LLC is committing to preserving the historical aspect of the building with appropriate techniques for coral-based material buildings. There’s also consideration of an A\/C system that includes a dehumidifier to maintain proper atmospheric conditions for the facility\u2019s interior.<\/p>\n
Sen. Brian A. Smith sees the Cruzan Group, LLC as a role model for other Virgin Island entrepreneurs. \u201cYou guys exemplify courage,\u201d he said. \u201cWe need people like you guys to step up and take on similar type projects.\u201d<\/p>\n
Mr. Smith also said the group\u2019s investment is substantial enough to warrant a reduction of the fees to government of the Virgin Islands. Deputy Commissioner of Property and Procurement Laverne P. Bailey, quickly noted that the fees went through lengthy deliberations and all sides agreed to the the final numbers.<\/p>\n
The measure received unanimous support from committee members and will be forwarded to the full body for further consideration.<\/p>\n
Other action taken by the Committee on Finance included:<\/p>\n
Bill No. 32-0071 \u2013 An Act amending Title 33, Virgin Islands Code, Chapter 12, Section525 relating to the rate of duty on articles shipped from within the U.S. Customs Zone to provide for duty-free importation of articles, and repealing 29, V.I.C. \u00a7\u00a7713c, 713e (c) (3), 713f (c) (3), and 806 (c); and 33 V.I.C. \u00a7 42b (d) (2), 526, 527, 531, and 532 \u2013 This measure was held in Committee until the call of the chair<\/p>\n
Bill No. 32-0098 \u2013 An Act amending Title 33, Virgin Islands Code, Chapter 89, Subchapter III, Section 2541 pertaining to the attachment and sale of property for non-payment of taxes \u2013 This measure was held in Committee until the call of the chair<\/p>\n
Bill No. 32-0089 \u2013 An Act authorizing the reprogramming of a portion of the proceeds of the Matching Fund Revenue Bonds, Series 2009A (the \u201cSeries 2009 Bonds\u201d), issued pursuant to Act No. 7081, as amended by Act No. 7095, and certain Interest Earnings allocated to the Virgin Islands Department of Education non-school support facilities and certain school facility capital projects which require priority funding at this time \u2013 This measure was approved as amended and forwarded to the Committee on Rules and Judiciary<\/p>\n
The Committee on Finance is scheduled to meet again on July 20, 2017<\/p>\n
All seven Committee members were present
\nChair: Senator Kurt A. Vialet, Vice Chair: Senator Marvin A. Blyden, Members: Senator Neville A. James, Senator Nereida Rivera-O’Reilly, Senator At Large Brian A. Smith, Senator Tregenza A. Roach, Senator Dwayne M. DeGraff<\/p>\n
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