Developer's Incentive
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Overview
As we continue to support the growth and development of the U.S. Virgin Islands, our focus remains on building a more resilient and sustainable future. Developers who share this vision may be eligible for exclusive incentives and benefits designed to support successful projects while strengthening communities and enhancing the quality of life for the people of the Virgin Islands. Together, we can create lasting opportunities and build a stronger tomorrow.
- Direct access to VIHFA mortgage ready clients which eliminate the marketing process.
- Low-income housing tax credit to developers who construct or rehabilitate rental housing for low-moderate individuals or families.
- Exemptions of gross receipts taxes. **
- Exemption of excise taxes on building materials, articles, supplies, goods, merchandise and tools manufactured or brought into U.S. Virgin Islands. **
- Exemption of all customs duties in excess of a one percent (1%) handling charge or such materials used in the production of affordable housing. **
- Exemption of income taxes for the term of the agreement. **
- Issuance of Certificate of Tax Exemption to the Applicant and each Beneficiary.
- Increase organizational marketability and portfolio of work.
** Pursuant to the Affordable Housing Development Agreement.