Bryan Says Gov't Needs Long-Term Building Strategy as PFA Approves New Office Leases

The V.I. Public Finance Authority on Wednesday approved new office leases for both PFA and the Office of Disaster Recovery, while Governor Albert Bryan Jr. said the government needs to move toward owning more of its office space instead of continuing to rely so heavily on rental arrangements.

The discussion began with board approval of a three-year lease agreement with the West Indian Company for office space at Warehouse K on Parcel 6BF Estate Thomas for PFA operations.

Officials said the lease would cover about 4,780 square feet at an annual cost of $143,400, for a total three-year obligation of $430,200.

PFA officials said the authority needs additional room to support expanding operations, anticipated personnel growth and added responsibilities tied to the corporation’s evolving portfolio. During the discussion, officials said the new space is expected to house functions including accounting, human resources and information technology.