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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.

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Interesting article, considering Mandahl Bay Holdings has been working towards getting this project permitted for nearly a decade, and has failed in doing such. It has been refused by the Virgin Islands Coastal Zoning Management, and the public resistance to this property was and remains tremendous. The people of the Virgin Islands do not want this project and continue to be very outspoken against it.

It also makes no business/financial sense whatsoever. A large portion of the land they intend to utilize isn't even owned by Mandahl Bay Holdings, it is owned by the Virgin Islands Government. The portion where they intend to build the "high end residential" homes has been for sale for many years, not one person has built there, and only a very few lots have sold. It is not in a location that would be deemed high end residential, the entire hillside above is 1/3 acre lots with smaller less expensive homes.

As a local Virgin Islands Real Estate business owner, I am very surprised people would consider investing in this project. It makes no financial sense to me, and this is my area of expertise.
Posted by Kirk B | Tuesday, March 25 2014 at 9:15AM ET

Puerto Rico CANNOT offer tax breaks and incentives for investments in the Virgin Islands. That would be like moving to California to get tax breaks in Nevada. It is not legal.

Puerto Rico has no jurisdiction or authority to negotiate tax relief in the Virgin Islands and it would be illegal to promote such. This 'investor scheme' sounds like something to be investigated by the Virgin Islands Attorney General, V.I. Legislature and Federal Trade Commission.

I would hope someone with $500 million to spend would be smart enough to know that Puerto Rico has no ranking in this dog and pony show.
Posted by Karl C | Tuesday, March 25 2014 at 4:13PM ET