Legislation authorizing an agreement between the V.I. Government and two big developers to begin designing a new sports complex in Frederiksted was held in committee for more testimony after a six-hour hearing in Frederiksted Monday evening.
Plans call for $55 million in development. Private developers General Engineering Corporation and GlobeVest would perform the work and invest $25 million. The V.I. Government would spend $5 million for designs and planning now, then use bond funds financed through the Communities Facilities Trust account, a fund established in Diageo’s operating agreement with the V.I. government.
The agreement states that Diageo’s new distillery will deposit “three percent of the annual gross cover over receipts” into the fund, administered by the V.I. Public Finance Authority.
Numerous residents had strong feelings both for and against the plan, which calls for a baseball stadium, beach volleyball facilities, tennis courts and swimming pools.
"In my view we have not exhausted questions on this," said Sen. Janette Millin-Young, asking the committee to hold the bill for further testimony at 12:25 a.m.
Voting to hold the bill for further testimony were Millin-Young, Sens. Craig Barshinger, Terrence "Positive" Nelson and Alvin Williams. Absent were Sens,. Alicia "Chucky" Hansen, Shawn-Michael Malone and Patrick Sprauve. Full details to follow.
