Testimony of Judy S. Perez for CILLC 12.15.2025, Commercial Investments LLC — Budget, Appropriations and Finance, February 3, 2026 (Bill 36-0204)
Testimony of: Judy Perez-Ferdinand, General Manager Commercial Investments, LLC Bill No. 36-0204: Lease Agreement between the Department of Property and Procurement on behalf of the Government of the Virgin Islands and Commercial Investments, LLC Committee on Budget, Appropriations, and Finance Monday, December 15th, 2025 Earl B. Ottley Legislative Hall, St. Thomas, U.S. Virgin Islands Good Morning, Committee Chair Novelle E. Francis, Jr., Vice-Chair Marvin E. Blyden, Committee members – Honorable Senators, Kurt A. Vialet, Dwayne M. DeGraff, Ray Fonseca, Hubert L. Frederick, and Marise C. James, Non-Committee members, Central and Legislative Staff, fellow testifiers, visitors present in the chambers I am Judy S. Perez-Ferdinand, Member and General Manager of Commercial Investments, LLC, and I appear this morning to offer testimony on the proposed Lease Agreement currently before this Committee and requests this Committee’s, and the full Senate’s approval of the Lease Agreement between the Government of the Virgin Islands and Commercial Investments, LLC. …
Download the original document · Plain text (TXT) · Browse the archive · How this archive works
SHA-256 6db27d5511896a0beeb27d3fa6724f8adaa367939b2a08c9e7109cebc3d3569f
Re-using this document
A proceeding of the Legislature of the Virgin Islands, open to the public under 3 V.I.C. § 881, which reaches any committee of any branch of government and permits the news media to publish what it records.
Our description, tagging, arrangement, extracted text and machine transcripts are released under CC0 1.0. We assert nothing about the document itself.
Archive identifier LF-6db27d551189
Document text
Testimony of: Judy Perez-Ferdinand, General Manager Commercial Investments, LLC Bill No. 36-0204: Lease Agreement between the Department of Property and Procurement on behalf of the Government of the Virgin Islands and Commercial Investments, LLC Committee on Budget, Appropriations, and Finance Monday, December 15th, 2025 Earl B. Ottley Legislative Hall, St. Thomas, U.S. Virgin Islands Good Morning, Committee Chair Novelle E. Francis, Jr., Vice-Chair Marvin E. Blyden, Committee members – Honorable Senators, Kurt A. Vialet, Dwayne M. DeGraff, Ray Fonseca, Hubert L. Frederick, and Marise C. James, Non-Committee members, Central and Legislative Staff, fellow testifiers, visitors present in the chambers I am Judy S. Perez-Ferdinand, Member and General Manager of Commercial Investments, LLC, and I appear this morning to offer testimony on the proposed Lease Agreement currently before this Committee and requests this Committee’s, and the full Senate’s approval of the Lease Agreement between the Government of the Virgin Islands and Commercial Investments, LLC. I have called the Virgin Islands home for decades. I am a proud mother and grandmother, a retired DLCA Enforcement Officer, and the owner of Jay’s Enterprises. Since my retirement from DLCA, I have continued to serve this community as a business consultant, expeditor, and residential real estate developer and property manager. These combined professional experiences have prepared me for this next chapter— investing in and advancing commercial real estate development and logistics in our territory. Lease Agreement between the GVI and Commercial Investments, LLC is for Parcel No. 30 Submarine Base, St. Thomas, U.S. Virgin Islands, consisting of a one (1) story building. The property will be fully renovated and used as a climate-controlled logistics storage warehouse and for other related purposes. The term of this Lease Agreement is for thirty (30) years with renewal options terms – if we remains in good standing. The renegotiated annual rent will now be Sixty Thousand Dollars ($60,000.00) payable in monthly installments of Five Thousand Dollars ($5,000.00) During a reduced permitting and construction period of twelve (12) months, Commercial Investments will pay a reduced rent to allow resources to be directed toward permitting, rehabilitation and capital improvements. If the property is ever subleased, Commercial Investments will remit to the GVI up to thirty percent (30%) of all rent collected. Commercial Investments, LLC plans to invest an approximately Five Hundred Thousand Dollars ($500,000.00) in critical improvements. These include demolishing and rebuilding the interior office space; repairing the leaky roof and exterior metal wall panels; installing insulation; upgrading plumbing, electrical, and HVAC systems; replacing metal roll-up doors; installing exterior and interior lighting and perimeter fencing; implementing a full security and surveillance system; improving the container loading dock; and installing an emergency generator and optional solar panels. These upgrades will not only restore the building, but also transform it into a modern, efficient, and secure commercial asset for the Subbase area. This project is deeply personal to me because it is a woman-led development built from vision, determination, hard work, and the belief that women in the Virgin Islands can and should play a leading role in shaping our economic future. It is also a multi-generational project, one that I am building not only for myself, but for my children, grand and great grandchildren—so they can see what is possible when we commit to creating something lasting for our community. Beyond the business aspect, this facility will provide critical support for our disaster recovery efforts, offering secure, climate-controlled space at a time when our territory is still rebuilding and preparing for the future. For me, this is more than a lease or a renovation—this is a legacy of resilience, service, and hope that I am honored to continue to contribute to the Virgin Islands. I respectfully ask for your support of this Lease Agreement and look forward to the opportunity to begin this work in partnership with the Government of the Virgin Islands. Thank you for your time and consideration.