Forbix Financial Teams Up with US HART to Invest in Rebuilding the US Virgin Islands
The storms reportedly damaged or destroyed 85% of the islands' 56,000 homes and recovery efforts have left much to be desired. Although committing
This inadequacy has created a vast demand for basic societal necessities such as affordable housing, disaster preparedness, and waste management. And as is often the case when the government is slow to execute, the private sector is bridging the gap.
In August of 2018,
The two-day event hosted multiple stakeholders. Investors along with many public officials including US Senator
In attendance and accepting the award was
In addition to sponsoring the summit, Forbix has already pledged to invest
Forbix is in the process of raising capital for the project. "Forbix is now in the second stage," Butler said, "and is working out an investment model to work with the local builders, stakeholders, government officials, and anybody who can help us achieve our goal of building three hundred rental housing units."
The way the public private partnership mechanism works is private investors such as Forbix invest the capital into a project and the federal government then reimburses the investor upon completion of the project. "If all goes well, we will continue to reinvest many times over," said Butler.
Press Contact:
818-935-5218
www.forbix.com
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