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Charlotte Amalie
Thursday, February 29, 2024
HomeNewsArchivesTax Exemptions Are Not Kept in the Dark

Tax Exemptions Are Not Kept in the Dark

Dear Source:
In a recent letter to your newspaper, Attorney Stacy E. Plaskett made an allegation about the University of the Virgin Islands Research and Technology Park Corporation (RTPark Corp.) that is erroneous. Contrary to her allegation, RTPark Corp. does not leave the public “in the dark” on which entities are awarded tax exemption. Such awards are made by the Board of Directors of RTPark Corp. and are subject to approval of the Governor of the Virgin Islands. Meetings of the Board are held after giving a 10-day notice, as is required by the bylaws of the corporation. The meetings are announced on the web site of the corporation (i.e., www.uvirtpark.com) and on the electronic bulletin board of the University of the Virgin Islands.
The decisions on awards are made in executive session of the Board to protect the confidentiality of proprietary information provided by applicants. However, the decisions are announced in open session immediately after the executive session is concluded and the regular session of the meeting is resumed. As has been the RTPark Corp’s practice for years, a list of all tenants of the RTPark Corp., and thus all recipients of tax exemption, appears on the website of the corporation for anyone to review at his or her leisure.
Sincerely,
Alexander A. Moorhead, Chair
Board of Directors, RTPark Corp.

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