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Economic Development Park Corporation (EDPC) 
Governing Board Meeting 
Thursday, September 12, 2024 
Summary Report 
 
During the Virgin Islands Economic Development Authority (“USVIEDA”) Governing Board 
Meeting on Thursday, September 12, 2024, the Governing Board considered one (1) Action Item 
and was provided updates on the EDPC’s three (3) FEMA projects from the USVIEDA Team as 
follows: 
 
Regular Session 
 
A. Action Item: 
 
• Ratification of Poll Vote – JPMorgan Chase & Co. and J.P. Morgan Investment 
Management, Inc. Accounts 
 
An emergency meeting was held via Zoom on September 3, 2024 by the Economic Development Park Corporation 
(“EDPC”) Governing Board to consider establishing bank accounts with JPMorgan Chase & Co. and J.P. Morgan 
Investment Management, Inc.  Opening the accounts was determined to be in the best interest of the EDPC to 
maximize its return on funds.  
 
The Governing Board voted (5 – 0) to: 
 
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Ratify the poll vote taken during the emergency meeting held via Zoom on 
September 3, 20243. The purpose of said meeting was to consider 
establishing bank accounts with JPMorgan Chase & Co. and J.P. Morgan 
Investment Management, Inc. 
 
B. Discussion Item: 
 
• Federal Emergency Management Agency (FEMA) Repairs Project 
 
The Director of Physical Plant gave the Governing Board an update on the three (3) FEMA 
Hurricanes Irma and Maria repair projects ongoing at the EDPC facilities: 
 
1. Virgin Islands Industrial Park (VIIP), St. Thomas: 
a. Phase I:  Consisting of repairs to three (3) bays, including roofs, roll up doors, 
loading docks, exhaust fans, etc. and repairs to the entrance area, including 
fencing and gate at the Park is complete with the exception of a few “punch 
list” items remaining to be completed before acceptance by EDPC and final 
payment to contractor. 
 
b. Phase II:  Repair to Bay 4 and construction of a 10,000 sq. ft. office building on 
site (future home of the St. Thomas USVIEDA office). Architect is currently 
finalizing the building plans. 
 
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2. Fleming Building, St. Croix:  Building repair plans approved by FEMA. Awaiting final 
written approval. Construction repair permit (building permit) request is being filed 
with the Department of Planning and Natural Resources today. Repair plans 
previously approved by the Historic Preservation Committee (HPC). 
 
3. William D. Roebuck Industrial Park, St. Croix:  Repair plans still under review by FEMA’s 
Public Assistance (PA) and Hazard Mitigation Grant Program (HMGP).