Governor Lolo Moliga has established a new task force to identify projects and provide justification for the same that the territory can implement under federal incentive programs which the territory is eligible for.
These include the EB-5, Opportunity Zone and Tax credit initiatives.
Governor Lolo said in a May 3 memo that the Project Review Task Force is to collaborate with the Department of Commerce which is the lead agency in administering these programs, to identity projects and prepare proposals that would attract funding from these sources.
The group is to make recommendations to the governor and the lt. governor prior to official submission of requests to federal agencies.
The EB-5 Visa Program is a way for foreign investors to get their US green cards and permanent residency through an investment in a qualifying enterprise.
Director of Commerce Keniseli Lafaele has said that an EB-5 Regional Center has been very active in promotions with investors from China, South Korea and other Asian countries.
And he believes this may be the source that the territory can tap for major projects such as re-development of the old Rainmaker Hotel site and cable car rehabilitation.
“Opportunity Zone”was created under the federal Tax Cuts and Jobs Act to spur investment in distressed communities throughout the US.
And the tax credit incentives gives Star Kist company and its local subsidiary StarKist Samoa tax breaks for their investments.
The members of the task force are Keniseli Lafaele as chair, and members are Port Director, Taimalelagi Dr. Claire Poumele, Director of Public Works, Faleosina Voigt with the Governor’s Chief Legal Counsel Steve Watson and Executive Assistant Iulogologo Joseph Pereira.
DOC staff are to perform the leg work and write up project proposals.
