Business View caribbean - Aug 2023

24 BUSINESS VIEW CARIBBEAN VOLUME 10, ISSUE 8 key stakeholders was a considerable relief and a significant achievement. Bright Path: A Comprehensive Approach to Resident Services A fundamental aspect of the Virgin Islands’ recovery efforts was recognizing the need for a focus on resident development alongside the physical reconstruction of buildings. “We have a good plan to energize the inventory, the buildings. But we need to make sure that there is the right plan for the residents’ revitalization,” explains Graham. In response to this need, the Housing Authority developed a comprehensive resident services plan, something it hadn’t been equipped to implement before. This plan, christened ‘Bright Path’, was not just about providing direct services, but also about facilitating referrals to the wealth of non-profit organizations within the territory. Graham highlights the innovation at the heart of Bright Path’s funding model. Just as building maintenance reserves typically set aside $500 per unit per year for necessary replacements and upgrades, Graham proposed a similar set-aside for families. “We determined that if we could set aside $500 per unit per year for, say, 15 years, that could fund our resident services,” explains Graham. This concept, though novel, found acceptance among the authority’s developer partners. They agreed to reserve funds for resident services over 15 years, allowing a 100-unit development to invest $50,000 in resident growth and development each year. “This is a new concept that I’m trying to get others to understand so that it can be replicated across the country,” adds Graham. With this innovative approach in place, the Housing Authority has staffed a new department—Resident Wellness and Empowerment Department—to work in collaboration with developer partners on implementing Bright Path. Rendering