2026 05 19 Governor transmittal OLC 0173 2026
THE UNITED STATES VIRGIN ISLANDS OFFICE OF THE GOVERNOR GOVERNMENT HOUSE Charlotte Amalie, V.I. 00802 340-774-0001 May 19, 2026 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: Reinstatement & Amendment to Lease Agreement — By and between the Government of the Virgin Islands and Water Island Development Company, 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 the Reinstatement & Amendment to Lease Agreement No. BCT-383 between the Government of the Virgin Islands, acting through its Commissioner of the Department of Property and Procurement and Water Island Development Company, LLC. …
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THE UNITED STATES VIRGIN ISLANDS OFFICE OF THE GOVERNOR GOVERNMENT HOUSE Charlotte Amalie, V.I. 00802 340-774-0001 May 19, 2026 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: Reinstatement & Amendment to Lease Agreement — By and between the Government of the Virgin Islands and Water Island Development Company, 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 the Reinstatement & Amendment to Lease Agreement No. BCT-383 between the Government of the Virgin Islands, acting through its Commissioner of the Department of Property and Procurement and Water Island Development Company, LLC. The proposed Amendment to the Lease Agreement reinstates and modifies an existing lease between the Government of the Virgin Islands, through the Department of Property and Procurement, and Water Island Development Company, LLC, concerning approximately 197.82 acres of Government-owned land on Water Island originally conveyed from the U.S. Department of the Interior. The Original Lease, ratified by the Legislature in 2014, contemplated development of a hotel and marina, along with the sale of approximately 55 acres for residential resort use. In April 2025, the Government issued a Notice of Termination for non-performance; however. that termination was subsequently rescinded following negotiations. and the parties now propose to reinstate the lease with amendments. Transmittal Letter for Reinstatement & Amendment to Lease Agreement — By and between the Government of the Virgin Islands and Water Island Development Company, LLC Under the Amendment, the lease is reinstated for specified parcels totaling approximately 180 acres. Certain areas, specifically Catchment Area and Tract, are removed from the lease and will revert to Government control. I thank you and the members of the Thirty-Sixth Legislature for your sustained efforts for the benefit of the Territory. Sincerely, \ er rad Governor