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SENATE HEARINGS SET ON HOME OWNERSHIP OPTIONS

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Feb. 28, 2003- Sen. Emmett Hansen II said on Friday that the Senate Housing Parks and Recreation Committee, which he chairs, will meet twice in March to take up the matter of affordable home ownership.
On March 10, the committee will convene "to address the immediate concerns" of the Housing Finance Authority, Housing Authority and Housing Parks and Recreation Department, Hansen said in a release..
On March 18, there will be a hearing to take testimony "from various housing financing agencies and private corporations seeking to do business in the territory."
"There are a number of private financing companies seeking to do business in the Virgin Islands at stateside rates," Hansen said. He said has a meeting scheduled with representatives one, Midway Mortgage, which he said "is seeking to invest $140 million to build 3,000 homes over the next five years."
Hansen said he has met recently with Clifford Graham, HFA director; Ray Fonseca, VIHA executive director; and Housing Parks and Recreation Commissioner Ira Hobson, and they have "come to a consensus in order to speak to the federal government with one voice."
On Tuesday, Hansen said, he met with U.S. Housing and Urban Development officials "to discuss the housing needs of the Virgin Islands and to request more federal financial participation in the creation of home ownership opportunities" in the territory.

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