THE UNITED STATES VIRGIN ISLANDS

OFFICE OF THE GOVERNOR

GOVERNMENT HOUSE

Charlotte Amalie, V.I. 00802

340-774-0001



RCUD SEN. PRESIDENT

May 28, 2026 MOY 25°26 ex 56



VIA HAND DELIVERY



The Honorable Milton E. Potter



Senate President



Thirty-Sixth Legislature of the Virgin Islands

Capitol Building



St. Thomas, Virgin Islands 00802



Re: MULTI-YEAR LEASE - By and between the Government of the Virgin

Islands, through the Department of Property and Procurement and

Kronprindsens Gade Development Group, LLC



Dear Senate President Potter:



Transmitted herewith for ratification by the Thirty-Sixth Legislature, in accordance

with the provisions of Title 31, Section 205, subsection (c), Virgin Islands Code, is a Multi-

Year Lease by and between the Government of the Virgin Islands, through the Department of

Property and Procurement and Kronprindsens Gade Development Group, LLC.



The Government or Lessor agrees to lease to Lessee the following property:



a Parcel No. 81A Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin

Islands, consisting of 4,814 U.S. sq. ft. or 0.110 U.S. acre(s) of improved land more-

or-less (hereinafter “Premises A’’);



b Parcel No. 81B Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin

Islands, consisting of 5,182 U.S. sq. ft. or 0.118 U.S. acre(s) of improved land more-

or-less (hereinafter “Premises B”);



c Parcel No. 9A Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin

Islands, consisting of 9,305 U.S. sq. ft. or 0.214 U.S. acre(s) of land more-or-less

(hereinafter “Premises C”);

Transmittal Letter for Multi-Year Lease by and between the Government of the Virgin Islands, through

the Department of Property and Procurement and Kronprindsens Gade Development Group, LLC.



Page 2 of 2



d Parcel No. 9B Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin

Islands, consisting of 2,492 U.S. sq. ft. or 0.057 U.S. acre(s) of land more-or-less

(hereinafter “Premises D’’);



e Parcel No. 10A Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin

Islands, consisting of 2,318 U.S. sq. ft. or 0.053 U.S. acre(s) of land more-or-less

(hereinafter “Premises E”);



f Parcel No. 10B Kronprindsens Gade, Kronprindsens Quarter, St. Thomas, U.S. Virgin

Islands, consisting of 5,408 U.S. sq. ft. or 0.124 U.S. acre(s) of land more-or-less

(hereinafter “Premises F”);



g Parcel No. 5B Store Straede, Kronprindsens Quarter, St. Thomas, Virgin Islands

consisting of 2,965.36 U.S. sq. ft. or 0.0681 U.S. acre(s) of unimproved land more-or-

less (hereinafter “Premises G”); and



h Parcel No. 6 Store Straede, Kronprindsens Quarter, St. Thomas, Virgin Islands



consisting of 1,036.50 U.S. sq. ft. or 0.0238 U.S. acre(s) of unimproved land more-or-

less (hereinafter “Premises H’’).



Collectively, A, B, C, D, E, F, G, and H shall be referred to as the “Premises.”

Lessee shall use the Premises to develop and operate a small hotel, apartment suites,

office, commercial, retail, and conference & meeting spaces, other permitted purposes and



related public-benefit purposes.



I thank you and the members of the Thirty-Sixth Legislature for your sustained efforts

for the benefit of the Territory.



Sincerely,



Albert . an me



Governor