COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE 11/19/2024-REPORTED OUT TO THE FLOOR 11/14/2024-REPORTED OUT TO THE COMMITTEE ON RULES AND JUDICIARY BILL NO. 35-0385 Thirty-Fifth Legislature of the Virgin Islands October 4, 2024 An Act approving a multi-year lease agreement between the Government of the Virgin Islands, acting through its Commissioner of the Department of Property and Procurement, and U.S.V.I. Soccer Federation, Inc., for Parcel N-1-Remainder of Tract 1 Estate Nazareth, No.1 Red Hook Quarter, St. Thomas, Virgin Islands, for a soccer field stadium with concessions, and soccer- related activities PROPOSED BY: Senators Novelle. E. Francis, Jr., and Dwayne M. DeGraff by Request of the Governor WHEREAS, on September 23, 2024, the Governor of the Virgin Islands approved the 1 lease agreement between the Government of the Virgin Islands and U.S.V.I. Soccer Federation, 2 Inc.; 3 WHEREAS, U.S.V.I. Soccer Federation, Inc., is leasing Parcel N-1-Remainder of Tract 4 1 Estate Nazareth, No.1 Red Hook Quarter, St. Thomas, Virgin Islands, consisting of 5 219,193.92 U.S. sq. ft. or 5.032 U.S. acres, more-or-less, of unimproved land, as shown on 6 O.L.G No. D9-9848-T024, dated May 7, 2024, to be used for a soccer field stadium with 7 concessions, and soccer-related activities; 8 WHEREAS, the premises is leased for an initial term of 30 years, with two options to 9 renew for two additional terms of 10 years each: 10 WHEREAS, the rent will be $3,600 per annum, payable in equal monthly installments 11 of $300; and 12 2 WHEREAS, title 31 Virgin Islands Code, chapter 21, section 205, subsection (c) 1 provides that in addition to the Governor’s approval of any lease, the Legislature of the Virgin 2 Islands must approve all leases exceeding a term of one year; Now, Therefore, 3 Be it enacted by the Legislature of the Virgin Islands: 4 SECTION 1. Pursuant to title 31 Virgin Islands Code, section 205, subsection (c), the 5 Legislature of the Virgin Islands approves the lease agreement between the Government of the 6 Virgin Islands, acting through its Commissioner of the Virgin Islands Department of Property 7 and Procurement and U.S.V.I. Soccer Federation, Inc., for Parcel N-1-Remainder of Tract 1 8 Estate Nazareth, No.1 Red Hook Quarter, St. Thomas, Virgin Islands, consisting of 219,193.92 9 U.S. sq. ft. or 5.032 U.S. acres, more-or-less, of unimproved land, as shown on O.L.G No. D9- 10 9848-T024, dated May 7, 2024, for a term of 30 years with two options to renew for two 11 additional terms of 10 years each with an annual rent of $3,600, to be used for a soccer field 12 stadium with concessions, and soccer-related activities. 13 BILL SUMMARY 14 This bill approves a lease agreement between the Government of the Virgin Islands and 15 U.S.V.I. Soccer Federation, Inc. 16 BR24-1336/October 3, 2024/LMW 17 G35-088 18