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COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE 09/12/2024-REPORTED OUT TO THE FLOOR 08/27/2024-REPORTED OUT TO THE COMMITTEE ON RULES AND JUDICIARY BILL NO. 35-0303 Thirty-Fifth Legislature of the Virgin Islands July 15, 2024 An Act approving the Government of the Virgin Islands’ conveyance of Plot No. 25B Hill Street, Company Quarter, Christiansted, St. Croix, Virgin Islands to the Virgin Islands Housing Finance Authority PROPOSED BY: Senator Novelle. E. Francis, Jr., by Request of the Governor WHEREAS, pursuant to 21 V.I.C. § 103, the Virgin Islands Housing Finance Authority 1 (the “VIHFA”), is a public corporation and autonomous governmental instrumentality of the 2 Government of the Virgin Islands created to expand housing opportunities for Virgin Islands 3 residents; 4 WHEREAS, pursuant to 21 V.I.C. § 103 (v), the VIHFA may acquire, own or possess 5 real property by lawful means for any of its purposes, and to use, sell, improve, manage, 6 develop, lease, mortgage, dispose of, or otherwise turn to account or deal with its property for 7 those purposes; 8 WHEREAS, the Government of the Virgin Islands owns Plot No. 25B Hill Street, 9 Company Quarter, Christiansted, St. Croix, Virgin Islands, consisting of 0.1031 U.S. acres, as 10 more fully shown and described on O.L.G Drawing No. 5665, dated August 2, 2005 (“the 11 Property”); 12 2 WHEREAS, the Property consisting of 0.1031 U.S. acres and its premises are derelict 1 and not currently being utilized by the Government of the Virgin Islands; 2 WHEREAS, the VIHFA has identified the Property on St. Croix as the ideal site for its 3 ongoing efforts to expand housing opportunities for Virgin Islands residents; 4 WHEREAS, the Government has agreed to convey the Property to VIHFA in exchange 5 for $1; 6 WHEREAS, pursuant to 31 V.I.C. § 205(b), no conveyance or other disposition of 7 government real estate is binding on the Government of the Virgin Islands except with the 8 written approval of the Governor and, pursuant to 31 V.I.C. § 205(c), the approval of the 9 Legislature of the Virgin Islands while in regular or special session; 10 WHEREAS, the Governor has submitted a proposed form of Conveyance Deed and 11 supporting documents for consideration and approval by the Legislature for the conveyance of 12 the property to the VIHFA; and 13 WHEREAS, the Legislature finds that the conveyance of the Property to the VIHFA 14 would be beneficial and wishes to authorize the Government to execute a conveyance 15 instrument, and supporting documents for the transfer of title to the Property; Now, Therefore, 16 Be it enacted by the Legislature of the Virgin Islands: 17 SECTION 1. Pursuant to 31 V.I.C. § 205(c), the Legislature of the Virgin Islands 18 approves the conveyance by the Department of Property and Procurement, on behalf of the 19 Government of the Virgin Islands, to the Virgin Islands Housing Finance Authority of all right, 20 title, and interest in and to Plot No. 25B Hill Street, Company Quarter, Christiansted, St. Croix, 21 Virgin Islands consisting of 0.1031 U.S. acres, as more fully shown and described on O.L.G 22 Drawing No. 5665, dated August 2, 2005. 23 SECTION 2. Upon the enactment of this act, the Commissioner of the Department of 24 Property and Procurement shall prepare a quitclaim deed for execution by the Governor of the 25 3 Virgin Islands conveying Plot No. 25B Hill Street, Company Quarter, Christiansted, St. Croix, 1 Virgin Islands, to the Virgin Islands Housing Finance Authority. 2 BILL SUMMARY 3 This bill approves the Government of the Virgin Islands’ conveyance of Plot No. 25B 4 Hill Street, Company Quarter, Christiansted, St. Croix, Virgin Islands, to the Virgin Islands 5 Housing Finance Authority. 6 BR24-1176/July 5, 2024/LMW 7 G35-076 8