reglab/housing_qa huggingface dataset:
V.I. Code tit. 21, § 12 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 1 - General Provisions|§ 12. Collection of payments; execution of deeds; option of Government to repurchase

 (a) The Authority shall collect the installments and rental fees from the holders of land or homes and in like manner and under the same conditions and by the use of the same powers which are made use of in or for the collection of property taxes. (b) In the case of any contract for the sale of land for homestead purposes, as provided in this chapter, upon completion of the payments by the purchaser, the Authority shall execute a deed referred to in clause (7) of section 7 of this title shall be executed in the name of the Government of the Virgin Islands and delivered to the purchaser. The contents of the deed shall include a clause giving the Government of the Virgin Islands first option to purchase the land at a fair market value if the owner decides to sell within ten years after his receipt of the deed.
V.I. Code tit. 21, § 13 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 1 - General Provisions|§ 13. Subordination of mortgages on homestead land; conditions as to agreements; definition

 (a) The Executive Director of the Virgin Islands Housing Finance Authority is authorized to consent to the mortgaging of homestead land to a lending institution for the purpose of securing a construction loan by the homestead allottee, which consent may include the following: (1) Subordinating the rights of the Government under this title in the mortgage for all purposes including foreclosure proceedings by the mortgagee in the event of default by the mortgagor. (2) Any other provision which, in the opinion of the Executive Director of the Virgin Islands Housing Finance Authority, would place a mortgage on homestead land in the same position, legally and businesswise, as a mortgage customarily used in the community covering non-homestead land. (b) Any subordination agreement under this section shall be made subject to the following conditions: (1) That the Executive Director of the Virgin Islands Housing Finance Authority finds that the total value of the land and any improvements thereon is sufficient to protect the interest of the Government as the holder of a second priority mortgage. (2) That the building or other improvements to be constructed on the homestead land be insured for a sum sufficient to pay off the mortgage given for such construction and the amount still due to the government on its mortgage, together with interest, and that such insurance policy be so written as to insure the first mortgagee and the Government, as their interests may appear. (c) For the purposes of this section homestead land shall be deemed to include any real property with respect to which a loan may be made under the provisions of section 9 of this title.
V.I. Code tit. 21, § 14 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 1 - General Provisions|§ 14. Assistance to veterans in obtaining federal loans; contracts

 The Virgin Islands Housing Finance Authority is authorized to devise a program to assist veterans of the Armed Forces of the United States who are natives of the Virgin Islands or permanent residents of the Virgin Islands to obtain loans made available to veterans by Federal law. The Virgin Islands Housing Finance Authority shall be empowered to execute contracts with any Federal agency or private parties in furtherance of the objectives of this program.
V.I. Code tit. 21, § 15 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 1 - General Provisions|§ 15. Acquisition or designation of land for sale to veterans

 The Virgin Islands Housing Finance Authority shall acquire suitable parcels of land or it may designate parcels of land already under its jurisdiction, with the approval of the Governor and the Legislature, for exclusive allotment and sale, on terms, to qualified veterans who were born in the Virgin Islands or who entered the Armed Forces from the Virgin Islands, in connection with a housing program for veterans, under such rules and regulations as the Executive Director of the Virgin Islands Housing Finance Authority” may prescribe. The Government of the Virgin Islands shall install water and sewer lines and provide adequate access roads to all parcels of land which are acquired pursuant to this section.
V.I. Code tit. 21, § 16 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 1 - General Provisions|§ 16. Home construction and improvement loans to veterans

 The Executive Director of the Virgin Islands Housing Finance Authority may expend funds to provide loans to assist any veteran to— (1) purchase a house, including but not limited to a mobile home, house trailer, prefabricated house or manufactured house. (2) construct, improve, alter, repair or rehabilitate his home including cisterns, foundation slabs, or retaining walls. (3) to purchase a plot of land on which to construct his home or locate his mobile home or house trailer. (4) for re-financing a home mortgage loan, in the event of action to foreclose. The Executive Director of the Virgin Islands Housing Finance Authority shall issue rules and regulations pursuant to chapter 35 of Title 3 of this Code governing the terms and conditions of loans made pursuant to this subsection; Provided, however, that no loan to any one person under the provisions of this subsection shall exceed $220,000 and the interest rate on such loan shall not exceed six percent (6%); provided, further, that the Executive Director of the Virgin Islands Housing Finance Authority is authorized to request only one bank rejection from the veteran and may waive this requirement after an assessment of the veteran. Loans available under the provisions of subdivision (3) of this subchapter shall not exceed $50,000.00, and loans available under other provisions of this subchapter shall not exceed $220,000.00, provided however, that loans for improvement shall not exceed $40,000.00. Once an applicant has met the eligibility requirements and funds are available for the purpose of granting loans to purchase land, the Virgin Islands Government, acting by and through the Executive Director of the Virgin Islands Housing Finance Authority, shall issue a commitment to the prospective purchaser to buy land not in excess of one half (½ acre).
V.I. Code tit. 21, § 17 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 1 - General Provisions|§ 17. Authorization of appropriations for housing of veterans

 There is hereby authorized to be appropriated the sum of $1,000,000 annually from the Internal Revenue Matching Fund for five years to be spent exclusively for the Veterans Housing Loan Program.
V.I. Code tit. 21, § 101 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 101. Findings and declaration

 The Legislature of the Virgin Islands finds and declares that: (a) There exists a serious shortage of residential low and moderate income housing in the Territory. (b) The lack of low and moderate income housing is injurious to the health, safety and welfare of the people of the Virgin Islands. (c) A steady program of uninterrupted housing construction for low and moderate income families will contribute substantially to economic stability in the Territory. (d) The sporadic availability of construction and mortgage money has contributed to the housing shortage. (e) It is the purpose of this chapter to provide a program to stimulate low and moderate income housing construction, rehabilitation and renovation and homeownership through the issuance of revenue bonds to obtain funds to be used for low interest mortgage loans to qualified purchasers of low and moderate income housing. (f) The programs, powers and authority established by this chapter are valid public undertakings within the meaning of section 8(b)(i) of the Revised Organic Act of the Virgin Islands. (g) This act shall be construed as cumulative authority for the exercise of the powers herein granted and shall not be construed to repeal any existing laws with respect thereto, it being the purpose and intention of this act to create full and complete additional and alternative methods for the exercise of such powers. The authority and powers conferred by, and the procedures set forth in, this act shall not be affected or limited by any other statute or by any charter, except the Revised Organic Act of the Virgin Islands, in particular section 8(b)(i) thereof, and the laws of the United States made applicable to the territory of the Virgin Islands, and except as otherwise herein provided.
V.I. Code tit. 21, § 103a (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 103a. Approval of property for development

 The Authority shall obtain the approval of the Legislature for the use of any property in any manner; such approval shall be obtained by submitting, at a minimum of every three (3) years, an Affordable Housing Plan which addresses specific projects to be developed on real property of the Authority. The Affordable Housing Plan shall describe each project by including information on location, acreage, number of dwelling units, target income of the tenants or purchasers of units, estimated cost of construction, required subsidies, estimated date of commencement of construction and ancillary facilities to be planned as part of the affordable housing project. The Committee of Jurisdiction for Housing Issues of the Legislature of the Virgin Islands shall review the Affordable Housing Plan and shall approve or disapprove each specific project addressed therein. The Affordable Housing Plan shall be deemed approved on the 45th day after the date of submission to the Committee of Jurisdiction for Housing Issues of the Legislature of the Virgin Islands, unless the Authority receives notification of any disapproval by the Committee of Jurisdiction for Housing Issues of the Legislature of the Virgin Islands within the forty-five (45) days period. Projects which are approved as provided herein shall not be included in subsequent Affordable Housing Plans submitted by the Authority.
V.I. Code tit. 21, § 105 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 105. Declaration by Authority

 Prior to or contemporaneous with the issuance of bonds or notes pursuant to this chapter, the Authority shall have found and determined by declaration that the findings of the Legislature as set forth in subsections (a) through (d) of section 101 of this chapter continue to exist and that the issuance of bonds or notes is intended to ameliorate such conditions. The declaration shall include such other information as the Authority may deem appropriate including, but not limited to, the following: (a) the qualifications and limitations on loans and mortgage loans to be financed with the proceeds of the bonds or notes and the manner, means and schedule of financing same, and the transferring, holding, insuring and collecting same: (b) any other uses of the proceeds permitted by this chapter; and (c) the qualifications of borrowers and buyers with respect to eligibility to receive mortgage loans and of the institutions with respect to originating and servicing loans, and the manner and time for receiving, processing, and accepting or rejecting applications for loans.
V.I. Code tit. 21, § 106 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 106. Limitations on purchases, loans, and mortgages

 (a) By rules and regulations the Authority shall insure that no proceeds of bonds or notes issued pursuant to this chapter shall be used: (1) for purposes other than those which comply with the United States Internal Revenue Code of 1954, as amended; (2) for loans unless such loans qualify pursuant to the provisions of this chapter; (3) for mortgage loans unless such loans are for the purchase, construction, rehabilitation or home improvement of low and moderate income housing. (b) The Authority shall determine what constitutes low and moderate income housing and the qualification of low and moderate income persons and households. (c) Through the establishment and maintenance of an official register, the Authority shall insure that with respect to individual applicants for mortgage loans and loans under this chapter who are substantially equal in eligibility and credit risk shall be recipients of loan monies on a first-come, first-served basis, subject to applicable law. The official register shall be open for public inspection.
V.I. Code tit. 21, § 107 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 107. Government pledge

 The government does pledge to and agree with the holders of any bonds or notes issued pursuant to this chapter that the government will not limit or alter the rights hereby vested in it to fulfill the terms of any agreements made with the holders thereof, or in any way impair the rights and remedies of such holders until such bonds and notes, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of such holders, are fully met and discharged. The Authority is authorized to include this pledge and agreement of the government in any agreement with the holders of bonds or notes.
V.I. Code tit. 21, § 108 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 108. Self-effectuating chapter

 The powers conferred by this chapter are in addition an supplemental to, and the limitations imposed by this chapter shall not affect, the powers conferred by any other general statute, special act, charter or ordinance of the Territory. Mortgage loan or loans may be acquired, purchased and financed, and bonds or notes may be issued under this chapter for such purposes, notwithstanding that any other general statute, special act, charter, resolution, ordinance or declaration may provide for the acquisition, purchase and financing of similar mortgage loan or loans or the issuance of bonds or notes for similar purposes, and without regard to the requirements, restrictions, limitations or other provisions contained in any other such law. It shall not be necessary to secure from any department, agency or officer of the government not named in this chapter, any approval or consent or any certificate or finding, for the issuance of bonds or notes hereunder or for any other reason, except such as are prescribed in this chapter or are required by the Revised Organic Act or the laws of the United States made applicable to the Virgin Islands. It is the intention that this chapter be self-effectuating and that the powers conferred upon the Authority by this chapter and the procedures set forth herein, including those as to the description of monies and property, shall not be affected, limited or restricted by any law enacted by the Legislature of the Virgin Islands.
V.I. Code tit. 21, § 109 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 109. Liberal construction

 The provisions of this chapter shall be liberally construed to accomplish the purposes herein.
V.I. Code tit. 21, § 110 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 110. Severability

 The provisions of this act are severable, and if any of its provisions or any sentence, clause or paragraph shall be held invalid by any court of competent jurisdiction, the decision of such court shall not affect or impair any of the remaining provisions hereof.
V.I. Code tit. 21, § 111 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 111. Consultants to the Authority; transfer of property; Urban Renewal Board powers to be undertaken by Housing Finance Authority

 (a) The Authority shall require its advisers and consultants, wherever possible and feasible, to utilize the services of a competent Virgin Islands firm to provide essential management or financial services for said advisers or consultants. The Authority may itself utilize the services of said firm in the issuance of tax exempt bonds, investments or other financial and management responsibilities relating to its programs. (b) The Governor shall, at the request of the Virgin Islands Housing Finance Authority and approval of the Legislature's Committee on Housing, transfer to said Authority, without cost, any real property owned by the Government of the Virgin Islands, which may be utilized for the housing programs of said Authority; Provided, That specific projects for which the transferred property may be used shall be presented to the Governor and the Legislature's Committee on Housing by the Authority for their prior approval. (c) In the absence of a board of directors for the Virgin Islands Urban Renewal Board to direct the various functions entrusted to said Board, the board of directors of the Virgin Islands Housing Finance Authority shall undertake all duties, powers and responsibilities of said Urban Renewal Board. Any decision by the Board pursuant to this section shall be approved by the Governor before it becomes final.
V.I. Code tit. 21, § 112 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 112. Suits against the Authority; limits on liability

 (a) No judgment shall be rendered against the Authority in excess of $25,000.00 in any suit or action against the Authority with respect to any injury or loss of property or personal injury or death which: (1) may be caused by the negligent or wrongful act or omission of any employee of the Authority while acting within the scope of his employment under circumstances where the Authority, if a private person, would be liable to the claimant in accordance with the law of the place where the act or omission occurred; or (2) may occur in connection with the use of any property or facilities owned by the Authority. (b) The provisions of subsection (a) of this section shall not apply if the injury, loss of property or death is caused by the gross negligence of any employee of the Authority while acting within the scope of his employment. (c) The Authority consents to have the liability determined in accordance with the same rule of law as is applied to actions in the courts of the Virgin Islands against individuals and corporations. (d) Members of the Authority, while acting within the scope of their duties as members of the Authority, shall not be subject to any personal or civil liability resulting from the exercise of any purpose, duty or responsibility in their official capacity, unless the conduct of the member is determined by a court of competent jurisdiction to constitute willful wrongdoing or gross negligence.
V.I. Code tit. 21, § 115 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 2 - Home Owners Construction and Mortgage Assistance|§ 115. Mortgage subsidy

 (a) In addition to any other authority conferred by law, the Housing Finance Authority is authorized and directed to establish by regulation a mortgage subsidy program which meets the criteria of this section. (b) The subsidy program shall: (1) Serve buyers seeking a mortgage loan in an amount determined by regulation. (2) Provide a subsidy for all interest costs exceeding twelve percent. (3) Include a provision whereby the Authority will take an interest-bearing second mortgage to cover the cost of the subsidy payments, which second mortgage shall be due and payable upon sale of the property or upon discharge of any first mortgage lien. (4) Provide for repayment of the second mortgage according to a reasonable payment plan, if requested by the mortgagor. (5) Provide for refinancing of the existing first mortgage loan due the second mortgage loan if interest levels on new mortgages issued pursuant to this chapter drop below twelve percent for thirty days or more and resulting monthly payments would not exceed what the borrower would have paid when the initial loan was negotiated if interest rates had been twelve percent. (c) The Housing Finance Authority is hereby authorized and directed to maintain a separate and distinct fund consisting of all monies appropriated to it by the Legislature of the Virgin Islands. Sixty days before the end of each fiscal year the Housing Finance Authority shall provide the Legislature with a report of the disbursements from and credits to such fund, audited by a Certified Public Accountant.
V.I. Code tit. 21, § 121 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 3 - Housing Rehabilitation Loans|§ 121. Definitions

 As used in this chapter, unless the context clearly indicates otherwise: (a) “Authority” means the Housing Finance Authority established under chapter 2 of this title; (b) “Executive Director” means the Executive Director of the Virgin Islands Housing Finance Authority; (c) “Town” means the towns of Charlotte Amalie, Christiansted, and Frederiksted as defined by section 81 through 86 of Title 1, Virgin Islands Code; (d) “Housing accommodation” means any building, structure or portion thereof which is designed to be and is occupied as the residence or home of one or more persons or families; (e) “Owner” means any person, firm or corporation having the legal or beneficial ownership of a housing accommodation or of a building or structure containing one or more housing accommodations; (f) “Rehabilitation” means the rehabilitation, improvement and repair of one or more housing accommodations and facilities incidental thereto; (g) “Cost of rehabilitation” means the sum total of the costs incurred by an owner and approved by the Executive Director as reasonable and necessary for carrying out the rehabilitation of a housing accommodation or accommodations, including, but not limited to, all costs of necessary studies, plans, surveys and specifications, architectural, legal, and engineering services, supplies, labor and all other services; and (h) “Financial institution” means any bank, savings and loan association, credit union, insurance company, or any individual, partnership, trust, association or corporation engaged in the business of making loans to finance the rehabilitation of housing accommodations.
V.I. Code tit. 21, § 122 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 3 - Housing Rehabilitation Loans|§ 122. Designation of Code Enforcement and Rehabilitation Area; eligibility

 The Authority may designate any area of a town as a Code Enforcement and Rehabilitation Area, if it finds that: (a) the area is substandard or unsanitary; (b) a substantial proportion of the housing accommodations in the area is in a deteriorating or deteriorated condition, and substantially fails to conform to applicable housing codes, fire laws or health regulations; and (c) rehabilitation assistance under this chapter is needed to render housing accommodations adequate, safe and sanitary and to conform to applicable housing codes and fire laws.
V.I. Code tit. 21, § 123 (2019)
2019 US Virgin Islands Code|Title 21 - Homesteads and Home Loans|Chapter 3 - Housing Rehabilitation Loans|§ 123. Duration

 The Authority shall continue until terminated by law, except that it shall remain in existence so long as loans guaranteed by it pursuant to this chapter are outstanding. Upon the dissolution of the Authority, its rights, liabilities and assets shall pass to the Territory.