An act requiring the Virgin Islands Housing Finance Authority to pay compensation to the homeowners within the Lyndon B.Johnson Gardens community who have
Sponsored By: Clifford A. Joseph, Sr.
Enacted
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 0 costs, 2 mixed.
LBJ Gardens Settlement Fund pays owners
The law creates the LBJ Gardens Settlement Fund in the Treasury. The Legislature puts money into this Fund. The Fund only pays compensation to LBJ Gardens owners as the law directs. It ends after the last owner is fully paid.
Cash or replacement home for LBJ owners
If you own property in LBJ Gardens, you get choices. For built homes, you can take cash, have VIHFA buy a home you pick, rehab a VIHFA-owned home you choose, or build a new VIHFA home from a design you pick. Cash amounts are $300,000 for 1-bedroom, $350,000 for 2-bedroom, and $400,000 for 3-bedroom; vacant lots get $15,000. Vacant lot owners can instead swap for VIHFA land between 0.18 and 0.25 acres. Liens are paid from your cash amount, and any earnest deposit VIHFA pays is subtracted.
Deadlines for LBJ owners to choose and move
You must give your written option within 30 days after the law takes effect. Within 30 days after you choose, you must convey title to VIHFA; the deed stays in escrow until you move. If you do not convey title, you forfeit any payment or other help. Move-out timing: 30 days after cash is paid; at closing for a VIHFA purchase; within 30 days after a rehab or new build gets its occupancy certificate; and within 30 days after the deed for a land swap. If you choose cash, VIHFA must pay in full within 180 days after it gets your choice.
Sponsors & Cosponsors
Sponsor
Clifford A. Joseph, Sr.
legislature
Cosponsors
Angel L. Bolques, Jr.
legislature
Hubert L. Frederick
legislature
Kenneth L. Gittens
legislature
Kurt A. Vialet
legislature
Marise C. James
legislature
Marvin A. Blyden
legislature
Novelle E. Francis, Jr.
legislature
Ray Fonseca
legislature
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Enacted
9/4/2026legislatureTo Governor
8/28/2026legislatureFloor
8/26/2026legislatureIntroduced
3/13/2026legislature
Bill Text
Enacted Act
9/4/2026
Bill Text
3/13/2026
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