Kronprindsens Gade Development Transmittal, Lease Agreement — Budget, Appropriations and Finance, August 3, 2026 (Bill 36-0341)
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. …
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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. 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