Public Finance Authority Reviews Progress in Hurricane Restoration
Six years since hurricanes Irma and Maria struck the territory in September 2017, causing widespread devastation, the USVI continues its rebuilding process. At Monday’s meeting of the Public Finance Authority, several agencies provided updates on ongoing recovery efforts.
2024-04-17 19:57:00 - VI News Staff
The Office of Disaster Recovery, which is overseeing the billions of dollars in federal funding allocated to recovery projects, reported that as of February, over $3.2 billion had been expended out of the $10 billion in projects that have been obligated.
The agency’s goal is to have all remaining Federal Emergency Management Agency projects obligated by the end of this year, to ensure that the territory benefits from more generous matching funds requirements that will expire in the coming months. Among the major projects that are currently underway or have been recently completed, according to ODR's update, is the Charles “Tappy” Seales Fire Station and Multipurpose Center, which broke ground days ago.
Meanwhile, V.I. Next Generation Network CEO Stephan Adams said progress on hurricane restoration projects, while a priority for the agency, is challenged by the availability of funds. “We prioritize the grants …and move them forward based upon operational cash flow since there's uncertainty on where the match will come from,” he told PFA members during his update. One key area of concern for Mr. Adams is the fortification of the points where the agency’s inter-island fiber optic cables come ashore.
"Our fiber access landing points [are] very critical. If those are damaged, the entire island of St. Thomas actually goes down if we have a break or storm damage on St. Croix,” Mr. Adams explained. “So that's a high priority project. Regardless of the match, we will use operating funds to be able to get that project done,” he continued.