Virgin Island Senate passes hotel development legislation

09/21/2011 | Virgin Islands Daily News, The

The Hotel Development Act, which allows hotel developers to repay long-term loans with shares of their casino and hotel occupancy taxes, received approval from the Virgin Islands Senate on Tuesday. Developers applaud the bill's passing, saying that it will allow three stalled hotel projects -- the Robin Bay, William and Punch and Golden Resorts hotels -- to obtain financing and resume construction.

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Virgin Islands Daily News, The

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