ST. THOMAS - For the fifth time, the Public Finance Authority gave New Jersey-based developer Paul Golden additional time to get his finances in place for the $250 million resort and casino he plans to build on St. Croix's south shore.

The PFA governing board's members voted unanimously on Wednesday to extend Golden's deadline from April 5 to Oct. 5.

The deadlines are dates when Golden's company, Golden Gaming, should have financing in place to get $32.5 million in V.I. government funding for a 12,000-square-foot convention center proposed for the resort.

In March 2003, the PFA set Golden Gaming's first deadline for Sept. 30, 2003.

The government funding hinges on whether the company can line up 80 percent of the financing to complete the resort project, which includes a 400 plus-room hotel, a spa and an 18-hole golf course near Great Pond.

Golden Gaming's project has been in the planning stage since 1999 and is expected to generate more than 1,200 permanent jobs, but it has been controversial because of concerns over the potential harm to the area's ecosystem.

Golden told PFA board members Wednesday that he needs more time because securing financing hinges on having all of his permits in place at the same time.

It took Golden Gaming more than a year to get a major permit - by default - after the St. Croix Coastal Zone Management Committee failed to act on its application within the required time. After several appeals to the Board of Land Use Appeals, Golden Gaming received its permit in January 2005.

"That permit expired on Jan. 12 this year," Golden said.

Golden said he submitted a renewal request to the Board of Land Use Appeals on Dec. 12 and he hopes the board will meet in late March.

"It's impossible to fund a project if a banker cannot see a permit," he said.

Golden's provisional casino license - which expires April 28 - also has been extended five times by the V.I. Casino Control Commission.

Golden said that progress has been made in making the resort a reality and that construction could begin this summer.

In December, Golden announced that he closed on a $9 million interim loan that went toward finalizing construction documents for the project that are vital to securing financial commitments for the actual construction of the hotel and casino.