(1) The Commission, either directly, or through its staff, shall have the following powers and duties:(1) Develop application procedures for demonstrating compliance with section 1011 of this chapter and for obtaining the benefits set out under section 1012 of this chapter, which may or may not include mandatory public hearings at the discretion of the Commission;(2) Review all applications (including financial records) for benefits as provided in section 1014 of this chapter, and grant the necessary certificates;(3) Oversee and monitor the implementation of this chapter;(4) Determine compliance of the beneficiaries with the provisions of this chapter and all regulations promulgated hereunder, and report such findings at least annually to the Governor;(5) Actively promote and publicize the Enterprise Zone Program, including preparing, purchasing, and distributing by mail, the internet, or other means, materials concerning Enterprise Zones;(6) Provide technical and business assistance related to tax incentives and the development of alternative revenue sources to businesses and residents within each Enterprise Zone;(7) Coordinate Federal and Territorial business assistance programs and streamline permit or license application procedures for businesses located in Enterprise Zones in cooperation with the appropriate Federal and Territorial departments or agencies;(8) Work with the appropriate Federal and Territorial departments or agencies to coordinate the Enterprise Zone Program with other programs carried out in the territory, including without limitation, housing and economic development programs, programs providing financial and other assistance to small businesses, programs providing transportation assistance, and job training programs;(9) Apply (or work with beneficiaries of the Enterprise Zone Program to apply) for Federal and Territorial grants, loans, and services that can benefit businesses in an Enterprise Zone;(10) Monitor enterprises that are established in or relocate to an Enterprise Zone and that qualify for the incentives provided for in section 1014 of this chapter;(11) Make and execute contracts, and all other instruments desirable, convenient or necessary for the exercise of its powers and functions under this chapter;(12) Contract with any department, agency, or instrumentalities of the Government of the Virgin Islands or with any person, firm, partnership, corporation, or other entity to operate or manage the Virgin Islands South Shore Trade Zone;(13) Contract with any department, agency, or instrumentality of the Government of the Virgin Islands or with any person, firm, partnership, corporation, development company or other entity to monitor the Enterprise Zone projects’ progress and compliance with their respective plans and agreements;(14) Contract with any agency, company or other entity registered with the Division of Corporations and Trademarks which has and expertise in financial feasibility analysis and experience in management of developments similar in type and scope to the project to be operated, managed, or monitored;(15) Acquire real property by grant, gift, purchase, devise or bequest, and hold, lease mortgage and otherwise exercise the rights of ownership of property, and dispose of such property, including by sale, lease or other disposition of such property to any person or entity, including the Government of the Virgin Islands, or any agency, instrumentality, commission, authority or political subdivision of the Virgin Islands;(16) Acquire any property in the settlement or reduction of debts previously contracted or in exchange for investments previously made in the course of its business, where the acquisition is necessary to minimize or avoid loss in connection therewith, and to hold such property for such periods as the Commission may consider advisable and exercise the rights of ownership of and to dispose of the property;(17) Accept funds, properties, or financial assistance of any nature, from any person, or public or private entity, and accept and comply with the conditions attached to the financial assistance;(18) Establish reasonable administrative fees;(19) Assess, in addition to the application fees and annual compliance fees against an applicant or Beneficiary any extraordinary costs and expenses incurred to process the application or monitor the performance of the terms and conditions of its Certificate, including costs for the services of outside consultants necessitated by the application or the compliance investigation;(20) Act as a link between local and international markets promoting commercial trade of goods and services between the Virgin Islands, the United States and the rest of the world and promote and market Virgin Islands goods and services in the United States and abroad;(21) Make recommendations to the Department of Public Works or Office of Highways and Motor Vehicles, as applicable, with respect to the planning, re-planning, opening, dedicating, creation or closing of private or public streets, roads, roadways, alleys, sidewalks and other rights of way in compliance with applicable regulations, and provide, or contract with the Government of the Virgin Islands or any other department, agency or instrumentalities or others for the providing any public facilities or services, including local transportation facilities in connection with a Virgin Islands South Shore Trade Zone project;(22) Prepare and submit annual reports, including a summary of the proceedings of the Commission, to the Board containing data regarding all Enterprise Zone Designations outstanding, and Beneficiaries in the district;(23) Prepare and promulgate such rules and regulations as may be necessary to complement the provisions of this chapter, such rules and regulations shall have the force and effect of law upon approval by the Governor; and(24) Perform such other acts and functions appurtenant to its authority as may be required by the Governor.
(1) Develop application procedures for demonstrating compliance with section 1011 of this chapter and for obtaining the benefits set out under section 1012 of this chapter, which may or may not include mandatory public hearings at the discretion of the Commission;
(2) Review all applications (including financial records) for benefits as provided in section 1014 of this chapter, and grant the necessary certificates;
(3) Oversee and monitor the implementation of this chapter;
(4) Determine compliance of the beneficiaries with the provisions of this chapter and all regulations promulgated hereunder, and report such findings at least annually to the Governor;
(5) Actively promote and publicize the Enterprise Zone Program, including preparing, purchasing, and distributing by mail, the internet, or other means, materials concerning Enterprise Zones;
(6) Provide technical and business assistance related to tax incentives and the development of alternative revenue sources to businesses and residents within each Enterprise Zone;
(7) Coordinate Federal and Territorial business assistance programs and streamline permit or license application procedures for businesses located in Enterprise Zones in cooperation with the appropriate Federal and Territorial departments or agencies;
(8) Work with the appropriate Federal and Territorial departments or agencies to coordinate the Enterprise Zone Program with other programs carried out in the territory, including without limitation, housing and economic development programs, programs providing financial and other assistance to small businesses, programs providing transportation assistance, and job training programs;
(9) Apply (or work with beneficiaries of the Enterprise Zone Program to apply) for Federal and Territorial grants, loans, and services that can benefit businesses in an Enterprise Zone;
(10) Monitor enterprises that are established in or relocate to an Enterprise Zone and that qualify for the incentives provided for in section 1014 of this chapter;
(11) Make and execute contracts, and all other instruments desirable, convenient or necessary for the exercise of its powers and functions under this chapter;
(12) Contract with any department, agency, or instrumentalities of the Government of the Virgin Islands or with any person, firm, partnership, corporation, or other entity to operate or manage the Virgin Islands South Shore Trade Zone;
(13) Contract with any department, agency, or instrumentality of the Government of the Virgin Islands or with any person, firm, partnership, corporation, development company or other entity to monitor the Enterprise Zone projects’ progress and compliance with their respective plans and agreements;
(14) Contract with any agency, company or other entity registered with the Division of Corporations and Trademarks which has and expertise in financial feasibility analysis and experience in management of developments similar in type and scope to the project to be operated, managed, or monitored;
(15) Acquire real property by grant, gift, purchase, devise or bequest, and hold, lease mortgage and otherwise exercise the rights of ownership of property, and dispose of such property, including by sale, lease or other disposition of such property to any person or entity, including the Government of the Virgin Islands, or any agency, instrumentality, commission, authority or political subdivision of the Virgin Islands;
(16) Acquire any property in the settlement or reduction of debts previously contracted or in exchange for investments previously made in the course of its business, where the acquisition is necessary to minimize or avoid loss in connection therewith, and to hold such property for such periods as the Commission may consider advisable and exercise the rights of ownership of and to dispose of the property;
(17) Accept funds, properties, or financial assistance of any nature, from any person, or public or private entity, and accept and comply with the conditions attached to the financial assistance;
(18) Establish reasonable administrative fees;
(19) Assess, in addition to the application fees and annual compliance fees against an applicant or Beneficiary any extraordinary costs and expenses incurred to process the application or monitor the performance of the terms and conditions of its Certificate, including costs for the services of outside consultants necessitated by the application or the compliance investigation;
(20) Act as a link between local and international markets promoting commercial trade of goods and services between the Virgin Islands, the United States and the rest of the world and promote and market Virgin Islands goods and services in the United States and abroad;
(21) Make recommendations to the Department of Public Works or Office of Highways and Motor Vehicles, as applicable, with respect to the planning, re-planning, opening, dedicating, creation or closing of private or public streets, roads, roadways, alleys, sidewalks and other rights of way in compliance with applicable regulations, and provide, or contract with the Government of the Virgin Islands or any other department, agency or instrumentalities or others for the providing any public facilities or services, including local transportation facilities in connection with a Virgin Islands South Shore Trade Zone project;
(22) Prepare and submit annual reports, including a summary of the proceedings of the Commission, to the Board containing data regarding all Enterprise Zone Designations outstanding, and Beneficiaries in the district;
(23) Prepare and promulgate such rules and regulations as may be necessary to complement the provisions of this chapter, such rules and regulations shall have the force and effect of law upon approval by the Governor; and
(24) Perform such other acts and functions appurtenant to its authority as may be required by the Governor.