Bill No. 36-0339 - An act approving the lease agreement between the Government of the Virgin Islands, acting through the Commissioner of the Department of Property and Procurement,

Collection: Acts & Legislation
Sub-shelf: billtracking.legvi.org
Kind: Legislation
Date: 2026-07-31
Topics: Procurement
Pages: 2
Text: Native Text
Identifiers: Bill 36-0339

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COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE BILL NO. 36-0339 Thirty-Sixth Legislature of the Virgin Islands July 31, 2026 An act approving the lease agreement between the Government of the Virgin Islands, acting through the Commissioner of the Department of Property and Procurement, and Eight One Subbase, LLC for Parcel Nos. 81A and 81B, Submarine Base, No. 6 Southside Quarter, St. Thomas to develop a food court PROPOSED BY: Senator Milton E. Potter, by Request of the Governor WHEREAS, on April 23, 2026, the Governor of the Virgin Islands approved the lease 1 agreement between the Government of the Virgin Islands and Eight One Subbase, LLC; 2 WHEREAS, Eight One Subbase, LLC established the Reggae Food Yard, a proposed 3 development of a dedicated mobile food van courtyard in Subbase, St. Thomas; 4 WHEREAS, the project will create a vibrant, affordable, and welcoming culinary space 5 for locals and tourists with designated parking, shaded seating, entertainment, and built-in 6 utility hookups for restrooms and storage; 7 WHEREAS, the term of the lease shall be for a period of 20 years commencing 8 on the first day of the month following approval by the Legislature of the Virgin Islands with 9 the option to renew for three additional terms of 10 years; and 10 WHEREAS, the Lessee shall pay to the Lessor an Annual Rent of $12,000 payable in 11 equal monthly instalments of $1,000 during the term of the lease; Now Therefore, 12 2 Be it enacted by the Legislature of the Virgin Islands: 1 SECTION 1. Under title 31 Virgin Islands Code, section 205, subsection (c), the 2 Legislature of the Virgin Islands approves the lease agreement between the Government of the 3 Virgin Islands, acting through the Commissioner of the Virgin Islands Department of the 4 Property and Procurement, and Eight One Subbase, LLC for Parcel No. 81A-Revised 5 Submarine Base, No. 6 Southside Quarter, St. Thomas, consisting of 8,189 U.S. sq. ft. or 0.188 6 U.S. acre(s) of improved land more-or-less, as shown on PWD File No. D9-2983-785; and 7 Parcel No. 81B-(Revised) Submarine Base, No. 6 Southside Quarter, St. Thomas, consisting of 8 20,402 U.S. sq. ft. or 0.4684 U.S. acre(s) of improved land more-or-less, as shown on PWD 9 File No. D9-3797-786 for a period of 20 years with an annual rent of $12,000 with the option 10 to renew for three additional 10 year terms to develop a mobile food truck courtyard. 11 BILL SUMMARY 12 This bill approves the lease agreement between the Government of the Virgin Islands and 13 Eight One Subbase, LLC to develop a food court with designated parking, shaded seating, 14 entertainment, and built-in utility hookups for restrooms and storage. 15 BR26-1115/July 22, 2026/CBM 16 G36-067 17