CHARLOTTE AMALIE, St. Thomas, U.S. Virgin Islands – October 29, 2025 – The Virgin Islands Economic Development Authority (VIEDA) issues this statement to clarify certain details about the VI Slice Moderate Income Homeownership Program (“VI Slice”) that were reported in the Virgin Islands Consortium article titled “Bryan Reopens VI Slice, Adds $2 Million in Local Funds; Warns Home Buying Will Get Harder as Recovery Builds Out”, published on October 28, 2025.

VIEDA remains fully aligned with Governor Albert Bryan Jr.’s commitment to expanding homeownership opportunities for Virgin Islanders and appreciates his continued leadership in identifying additional funding to sustain the program’s success. The VI Slice Program continues to make a meaningful impact in helping eligible Virgin Islanders achieve safe, stable, and affordable housing.

To ensure accuracy and transparency, VIEDA provides the following clarifications:

1. Program Funding Allocation: The VI Slice Program was initially appropriated $20 million from the American Rescue Plan Act (ARPA). VIEDA returned $10 million, half of the original allocation, to the Government of the Virgin Islands (GVI) out of an abundance of caution, as available housing inventory and federal timelines created uncertainty about whether all funds could be utilized within the required period. Subsequently, an additional $2 million was returned to the GVI at the request of the Office of Management and Budget to support other important community initiatives.
2. Program Timeline: The VI Slice Program is authorized to continue through December 31, 2026, or until all funds are fully expended, whichever comes first. This ensures that eligible first-time homebuyers can continue to benefit from the program under the existing funding structure.
3. Income Eligibility: Income eligibility for VI Slice participants varies by island to reflect differences in local housing markets and economic conditions. The household income requirements are as follows:

• St. Croix: $43,501 – $216,300
• St. Thomas: $45,298 – $242,900
• St. John: $47,151 – $260,750

4.Lender Portal Access: The “portal” referenced in the article is a secure online platform used exclusively by participating lenders to submit and manage VI Slice applications on behalf of their clients. The portal was temporarily closed to allow for reconciliation of remaining program funds, as demand for VI Slice assistance grew significantly. It will be reopened once additional funding becomes available.

VIEDA appreciates the Governor’s continued support of this important initiative and reaffirms its commitment to working closely with his Administration to help Virgin Islanders achieve the dream of homeownership. Together, we remain focused on strengthening communities and improving access to affordable housing throughout the Territory.