EFTA00809877.pdf

ST. CROIX 116 King Street, Frederiksted, VI 00840 (340)773.6499 FAX (340) 773.7701 ST. THOMAS 8000 Nisky Shopping Center. Suite 620. St. Thomas. VI 00802 (340)714-1700 FAX (340)777-1103 3 Economic Development Authority www.USVIE0A.org Virgin Islands Economic Development Commission NOTICE To: Beneficiaries of the Virgin Islands Economic Development Program From: Wayne L. Biggs, Jr. \c'e,C Acting Chief Executive Officer Copy: VIEDC Governing Board Tracy Lynch Bhola, Esq., General Counsel Claude Gerard, Director of Compliance Margarita Greenidge-Benjamin, Director of Applications Date: September 13, 2017 Subject: Hurricane Irma -- VIEDC Procurement and Charitable Contributions St. Thomas/St. John District Procurement In our effort to expedite the rebuilding process for Beneficiaries and our community affected by Hurricane Irma in the St. Thomas/St. John District, the Virgin Islands Economic Development Commission ("VIEDC") has determined that to prevent undue hardship it is in the best interest of the Territory to waive the Economic Development Program's procurement procedures, effective September 7, 2017 through December 31, 2017.2 While this waiver is intended to ensure the expeditious return of business to the Territory, all Beneficiaries are reminded that recordkeeping requirements shall remain in full force and effect throughout the aforementioned waiver period.2 See VIEDC Rules and Regulations 708-709 (Procurement Procedure — Solicitation for Quotes); see also V.I.R.R. 701-S and 708-713 (Waiver provisions). 2 See V.I.R.R. 708-712. Record Keeping Requirements. EFTA00809877 Special Condition - Charitable Contribution With regard to charitable contributions, all contributions related to educational programs and initiatives shall remain in full force and effect as stated in Beneficiaries' Tax Incentive Certificates. Beneficiaries may, however, petition the VIEDC to redirect the remaining amount to a locally based 501(c)(3) or government relief agency directly related to Hurricane Irma relief. Such relief related petitions will be decided upon by the Chief Executive Officer within one (1) business day of receipt. Approved redirected contributions shall be applied to the Beneficiary's 2017 calendar year or current fiscal year charitable contribution requirement. All such contributions must be well-documented for VIEDC compliance purposes. While the Hurricane Irma procurement waiver applies only to beneficiaries in the St. Thomas/St. John district, modifications to charitable contributions shall apply in both the St. Thomas/St. John and St. Croix districts. Please direct all inquiries to: Claude •. Gerard, Director of Compliance Virgin Islands Economic Development Commission EFTA00809878