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WAPA GOVERNING BOARD APPROVES WASTE REMOVAL CONTRACT ASSOCIATED WITH THE ONGOING HARDENING OF THE ELECTRIC GRID; EXTENDS MATURITY DATES ON LINES OF CREDIT

(Thursday, December 27, 2018)

The governing board of the Virgin Islands Water and Power Authority on Monday approved a contract that will facilitate the removal of waste generated by the ongoing hardening of the electric system, specifically the replacement of wooden poles with composite poles.
“The project has produced a significant amount of waste materials that must be disposed of properly. Haugland Energy was one of two companies that responded to a Request for Proposals and was deemed to be the best qualified to complete the scope of work. A contract in the amount of $55 million with a completion date of December 31, 2020 was approved. The project qualifies for 90% FEMA and 10% HUD reimbursement,” said Executive Director Lawrence J. Kupfer.
In other action, the board approved provisional extension of the maturity dates of the Authority’s lines of credit and overdraft credit facilities with Banco Popular and First Bank to October 31, 2019. The extension allows the banks time to provide the Authority with formal commitment letters. “The extensions were also necessary to allow WAPA to be in compliance with financial reporting requirements,” Kupfer noted.
Board members in attendance included Chairwoman Elizabeth Armstrong, Vice-Chairman Hubert Turnbull, Secretary Juanita Young, Gerald T. Groner, Esq., Noel Loftus, Cheryl Boynes Jackson, Commissioners Devin Carrington and Nelson Petty, Jr., and Director Marvin Pickering.