Lawmakers Approve Up to $250 Million in Bonds for Major Road Projects and New St. Croix-St. Thomas Ferry

GARVEE bond issuance will fund Veterans Drive Phase 2, a new inter-island ferry, and road upgrades on St. Croix, including matching funds for federally supported infrastructure projects.

Derek Gabriel, commissioner of the Department of Public Works, appeared before lawmakers on Wednesday to discuss the proposed issuance over $150 million GARVEE bonds through Bill No. 35-0415, to address major transportation infrastructure upgrades for St. Thomas and St. Croix.

Although Governor Albert Bryan Jr. indicated last week that approximately $76 million in new transportation funding would be sought, when Mr. Gabriel addressed lawmakers, that figure stood at $156 million with up to $250, with the potential to reach $250 million if necessary. “Before we dive into the specifics, I believe it is essential to discuss the truly transformational nature of the transportation package being presented today,” he began. Echoing the words of Governor Bryan, the commissioner told lawmakers that “this package will probably be this decade’s most significant economic initiative undertaken by the U.S. Virgin Islands.”