Virgin Islands News

Mortgage rates drop to another low, 4.58 pct.

Average rates on 30-year fixed mortgages fall to 4.58 pct., lowest level since mid-1950s

WASHINGTON (AP) -- Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren't rushing to refinance their loans or buy homes.

Mortgage company Freddie Mac says the average rate for 30-year fixed loans sank to 4.58 percent this week.

That's down from the previous record of 4.69 percent set last week and the lowest since Freddie Mac began tracking rates in 1971.

Emergency Management Center Opens

A new facility that unites three vitally important emergency management agencies was officially opened for business Thursday.

At a ribbon-cutting ceremony for the new emergency management center in Estate Nisky, Senate President Louis Hill said the area is now better protected in case of disaster.

“Our territory is significantly better prepared to coordinate and supervise the response and recovery of any hazard or disaster due to this state-of-the-art facility,”

PSC Adjusts LEAC Surcharges on Water, Electricity

PSC Chairman Joseph Boschulte (center) inquires about the LEAC surcharge, while PSC members Sirri Hamad (left) and Verne David (right) look on.The V.I. Public Services Commission voted Thursday to slightly reduce the hated Levelized Energy Adjustment Clause (LEAC) fuel surcharge on electric bills over the summer and increase the LEAC on water bills.

PSC Clears Choice Communications to Get Federal Dollars

The V.I. Public Services Commission voted to give Choice Communications status as an Eligible Telecommunications Carrier (ETC), opening the way for the company to collect federal Universal Service Fund (USF) grants as it moves toward providing cell phone service in the territory.

Mortgage rates hit low for year

Freddie Mac says average rates for 30-year mortgages fall to 4.72 pct., just above record low

WASHINGTON (AP) -- Rates on 30-year fixed mortgages fell this week to the lowest level of the year and were barely shy of the all-time low.

Mortgage finance company Freddie Mac says the average rate sank to 4.72 percent, down from 4.79 percent last week. It was just above the record of 4.71 set last December.

Property Tax Bills to Itemize Back Taxes and Fees

Should it become law, a bill sent out of the Senate Financial Services Committee Wednesday would require future annual real property tax notices to list other taxes and user fees owed the government.
The bill also mandates personal notification of delinquency, an increase to existing rules requiring notice in the papers, sending of notice by certified mail and attempting to contact the taxpayer. The goal is to give taxpayers more information and more notice of delinquency, so both the taxpayer and government are better prepared to pay.

Oil threatens pelicans saved from extinction

Birds hailed as conservation success are 'in dire trouble,' warns scientist

FORT JACKSON, La. - For more than a decade, the hundreds of brown pelicans that nested among the mangrove shrubs on Queen Bess Island west of here were living proof that a species brought to the edge of extinction could come back and thrive.

The island was one of three sites in Louisiana where the large, long-billed birds were reintroduced after pesticides wiped them out in the state in the 1960s.

But on Thursday, 29 of the birds, their feathers so coated in thick brown sludge that their natural white and gray markings were totally obscured, were airlifted to a bird rehabilitation center in Fort Jackson, the latest victims of the Deepwater Horizon disaster. Another dozen were taken to other rescue centers.

Six more pelicans were brought here on Friday, and as visitors to the center looked on, the birds huddled together in makeshift plywood cages and, in their unnatural stillness, looked as if the gooey muck had frozen them solid. The 29 pelicans brought in Thursday were being treated in hot rooms by workers in protective clothing.

“The pelicans are in dire trouble,” said Doug Inkley, a senior scientist with the National Wildlife Federation, who worried that the oil spill could put an end to the bird’s recovery in Louisiana.

Hundreds dead, damaged
The images of oil-covered birds — pelicans, northern gannets, laughing gulls and others — are eerily reminiscent of the Exxon Valdez disaster 21 years ago, and have in recent days have become the most vivid symbol of the damage wrought by the hundreds of thousands of barrels of crude oil that have poured into the Gulf of Mexico since the Deepwater Horizon rig exploded April 20.

Since the spill, 612 damaged birds had been cataloged as of Friday, most dead but some alive and drenched in oil, federal officials said.

Yet the brown pelican, because of its history of robust recovery in the face of extreme peril, has a special significance for the public.

The birds were once so common on the coastline here that they grace the state flag. They were frequent companions for fishermen, who shared their waters and admired their skill at spotting fish from afar and diving from great heights to scoop them up in their bills.

At the turn of the 20th century, observers estimated the brown pelican population in Louisiana at close to 50,000.

But by 1961, no nesting pair could be spotted along the state’s entire coast, according to LaCoast, a Coast Guard Web site. Like another subspecies of the brown pelican found in California, the local birds had been hard hit by DDT and other pesticides, which acted to thin the shells of their eggs. The eggs were crushed when the adults sat on them. (DDT was banned in the United States in 1972.)

In 1968, Louisiana took birds from a surviving Florida colony and reintroduced them along the state’s southern coast in three spots. One was Queen Bess Island, which had been the site of one of the last breeding pairs before extinction, said Kerry St. Pé, program director of the nearby Barataria-Terrebonne National Estuary Program.

Struggle, then flourish
Still, the birds struggled, threatened this time by the loss of their habitat. The local wetlands, hurt by levees in the Mississippi that blocked sediment from flowing downstream and by canals cut by oil companies looking to lay pipe, were sinking into the gulf at an astonishing rate. Queen Bess was going under as well until 1990, when a coastal restoration project financed a rock barrier around the island, which stabilized it. The pelican colony began to flourish and the birds’ offspring helped repopulate the coastline, Mr. St. Pé said.

Last year, the birds were officially taken off the endangered species list. But the oil spill, experts said, could change that.

Like all birds, pelicans are very sensitive to oil, said Melanie Driscoll, director of bird conservation for the National Audubon Society’s Louisiana Coastal Initiative.

It prevents them from regulating their body temperature when it gets on their feathers, she said, and in Louisiana the pelicans are subject to overheating. The oil can also poison the fish the pelicans feed on and seep through the shells of pelican eggs, killing the embryos.

The potential for damage was frighteningly apparent at the rescue center set up here by the International Bird Rescue Research Center with BP and federal and state officials.

All day Thursday, oiled birds, including the 29 brown pelicans, arrived at the makeshift veterinary emergency room built in a hangar on a former military base. They were carried from Coast Guard helicopters in dog kennels and cardboard boxes with air holes punched in them.

Most of the birds were so thoroughly coated in crude that they could not stand up. Some were stuck to the floor of their cages. Workers wiped off thick globs of oil with towels, then gave them fluids and fed them a fish slurry.

The pelicans were placed in plywood pens covered with blankets. The next morning, workers began to clean them using hot water and Dawn, a mild dish detergent.

So far, even the most heavily oiled pelicans have survived. Had they not been treated immediately, however, they would have almost certainly drowned or died of starvation or exposure, according to a veterinarian with the United States Fish and Wildlife Service.

The birds at the rehabilitation center, said Sharon Taylor, a veterinarian here, represent a lucky few — far more are certain to die in the wild.

“A lot of them will just disappear into the environment,” she said. “We will probably only find a very, very small percentage of what’s been impacted out there.”

Owners Stop Paying Mortgage ... And Stop Fretting About It

ST. PETERSBURG, Fla. — For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but are in no hurry to get out of.

Foreclosure has allowed them to stabilize the family business. Go to Outback occasionally for a steak. Take their gas-guzzling airboat out for the weekend. Visit the Hard Rock Casino.

“Instead of the house dragging us down, it’s become a life raft,” said Mr. Pemberton, who stopped paying the mortgage on their house here last summer. “It’s really been a blessing.”

Mortgage rates sink to lowest this year

Freddie Mac says average rates for 30-year mortgages fall to 4.78 percent, shy of record low

WASHINGTON (AP) -- Mortgage rates have fallen to the lowest level of the year as investors poured money into the safe haven of U.S. government securities.

The average rate on a 30-year fixed rate mortgage dipped to 4.78 percent this week from 4.84 percent a week earlier, mortgage company Freddie Mac said Thursday. It was the lowest level since early December, when rates fell to a record low of 4.71 percent.

Pet Coke a Distant Memory as Alpine Energy Looks to Get CZM Permit

After more than two years of planning and $4.9 million invested, Alpine Energy hopes to break ground this year on a garbage-burning power plant on St. Croix and two plants to convert trash into fuel, one for St. Croix and one for St. Thomas.
Donald Hurd, vice president of the Colorado-based energy company, told the St. Croix Rotary Club Thursday he expects to apply for a Coastal Zone Management permit in just a few days.

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