Finance Department Makes $8.1M Payment To WAPA Out of HOVENSA Settlement Funds
CHARLOTTE AMALIE — With the recent approval to appropriate $8.1 million to pay down the amount owed to the Virgin Islands Water & Power Authority (WAPA) by the Juan F. Luis Hospital and the Schneider Regional Medical Center, Commissioner of the Department of Finance, Valdamier Collens, said that the department was committed to executing the payment expeditiously in the best interest of WAPA and the territories’ hospitals, and today has done so.
“Cognizant that additional financial support is required to address the more than $20 million owed, we trust that this payment will assist in preserving the liquidity of both the hospitals and WAPA”, Collens said.
Bill No. 31-0347 was requested by Governor Kenneth Mapp and approved by the 31st Legislature to appropriate $8.1 million from a recent legal settlement to pay down the hospitals’ debt to the Authority.