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HomeNewsArchivesVIPA Board Updated on Financials, Crown Bay Dredging Project

VIPA Board Updated on Financials, Crown Bay Dredging Project

The V.I. Port Authority’s chief financial officer reported its November financials and the board was updated on the Crown Bay dredging project Monday at its meeting held in the Henry E. Rohlsen Airport conference room on St. Croix.

Valdamier Collens, CFO, gave a financial overview, highlighting revenues, expenses, changes in net assets and cash flow for the month ended Oct. 31. According to Collens, VIPA incurred a $1.3 million operating loss – $518,000 less than the budget and $9,000 lower than last year’s in the same period. The aviation division had the highest operating loss, $931,000, with the marine division operating at a loss of $353,000.

The board discussed possible solutions to decrease the shortfall accumulated by aviation. One measure would be to increase the landing fee.

The board approved the repair of the Cyril E. King Airport Terminal Building roof, which is contracted to be the completed by Advance Roofing Inc.

The board also approved Crown Bay Pier Geotechnical Survey Services as lead consultant on the Crown Bay Pier project. CDR Maguire will provide architectural and engineering services at the VIPA marine facilities and will produce a design for the dock expansion.

The board reported that the CZM permit for the Crown Bay Channel dredging project was approved, and Executive Director Carlton Dowe said he is optimistic about the discussion with the Army Corps of Engineers. The dredging at the Crown Bay Marina and along the bulkhead at the Crowley cargo dock has been completed.

The VIPA Board includes Robert O’Connor, chairman; Department of Public Works Commissioner Darryl A. Smalls, vice chairman; board members Albert A. Bryan, Labor commissioner; Beverly Nicholson-Doty, Tourism commissioner; Attorney General Vincent F. Frazer, Roberto Cintron, Manuel Gutierrez Jr., Allison Petrus and Yvonne E. L. Thraen.

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