BOARD OF TRUSTEES RESOLUTION



WHEREAS, the University is desirous of being recognized globally as a leading

American institution of higher education in the Caribbean dedicated to playing a significant role

in facilitating the economic and social transformation of the Virgin Islands to meet the challenges



of the 21 Century; and



WHEREAS, the establishment of a UVI Research and Technology Park (““Park’’) will

help to facilitate this economic and social transformation; and



WHEREAS, the University is the owner of approximately 26 acres of property on St.

Croix (“Property”), given to the University by Herbert J. Sugden and Margaret S. Sugden, which

the University wishes to explore the possibility of rezoning from residential use (R-2) to business

use (B-2) in order to facilitate the development of a UVI Research and Technology Park on St.



Croix; and



WHEREAS, it is in the best interests of the University to establish the Property as an

ancillary location from which to support the development and operation of the Park on a site in



close proximity to the St. Croix campus;

NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:



RESOLVED, that the Board of Trustees hereby authorizes the President to explore the

possibility of rezoning with the Department of Planning and Natural Resources and with

adjacent property owners the rezoning from R-2 to B-2 of the property known and

described as:



Plots Nos. 1 through19, Plot Nos. 21 and 22, and road plot,

of Parcel 1B, Estate Concordia



Matricula 9bb



West End Quarter



St. Croix, U.S. Virgin Islands,



as shown on the survey map bearing Drawing No. 546

dated December 14, 1956;



And it is further



RESOLVED, that the President is hereby authorized to execute all such documents and

take all such lawful action as may be necessary and appropriate in order to accomplish the



foregoing.

CERTIFICATION



The undersigned does hereby certify that the foregoing is a true and exact copy of the

resolution of the Board of Trustees of the University of the Virgin Islands adopted at its meeting

on October 13, 2001, as recorded in the minutes of said meeting.



(Ot ag oe



Secretary of the Board



Chairman of 7