COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE BILL NO. 35-0094 Thirty-Fifth Legislature of the Virgin Islands May 31, 2023 An Act approving the lease agreement between the Government of the Virgin Islands Department of Property and Procurement and the USVI Soccer Federation, Inc for Parcel H of Tract 1 Estate Nazareth, No. 1 Redhook Quarter, St. Thomas, Virgin Islands PROPOSED BY: Senators Novelle E. Francis, Jr. and Donna A. Frett-Gregory WHEREAS, the Government of the Virgin Islands, acting through the Commissioner of 1 the Department of Property, executed a lease agreement between the Government and the 2 USVI Soccer Federation, Inc. on February 9, 2009, for the demise of Parcel H of Tract 1 Estate 3 Nazareth, No. 1 Redhook Quarter, St. Thomas, Virgin Islands, consisting of 100,000 U.S. sq. 4 ft. or 2.296 U.S. acres as shown on O.L.G. No. D-9-8847-T014, for an initial term of 30 years 5 with options to renew for two additional terms of 10 years at an initial annual rent of $36,000; 6 WHEREAS, on April 25, 2023, the Governor of the Virgin Islands, approved the Lease 7 between the Government and the USVI Soccer Federation, Inc.; 8 WHEREAS, the premises will be used to promote and develop the sport of soccer 9 throughout the territory and for other related purposes; 10 WHEREAS, title 3, section 205(c) of the Virgin Islands Code provides that in addition 11 to the Governor’s approval of any lease, the Legislature of the Virgin Islands must approve all 12 leases exceeding a term of one year; and 13 2 WHEREAS, the purpose of this act is to approve the lease between the Government of 1 the Virgin Islands and the USVI Soccer Federation, Inc; Now Therefore, 2 Be it enacted by the Legislature of the Virgin Islands: 3 SECTION 1. Pursuant to title 31, section 205(c) of the Virgin Islands Code, the 4 Legislature of the Virgin Islands approves the Lease Agreement between the Government of 5 the Virgin Islands, acting through its Commissioner of Property and Procurement, and the 6 USVI Soccer Federation, Inc, for Parcel H of Tract 1 Estate Nazareth, No. 1 Redhook Quarter, 7 St. Thomas, Virgin Islands, consisting of 100,00 0 U.S. sq. ft. or 2.296 U.S. acres of 8 unimproved land, as shown on O.L.G. No. D-9-8847-T014, for an initial term of 30 years with 9 options to renew for two additional terms of 10 years at an initial annual rent of $36,000 for 10 use of the premises to promote and develop the sport of soccer throughout the territory and for 11 other related purposes. 12 BILL SUMMARY 13 The bill approves a 30-year lease, with options to renew for two, 10-year terms. The 14 lease is between the Government and the USVI Soccer Federation, Inc for Parcel H of Tract 1 15 Estate Nazareth, St. Thomas at an initial annual rent of $36,000 to promote and develop soccer 16 in the territory. 17 BR23-0535/May 15, 2023/YLT 18