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THE UNIVERSITY OF THE VIRGIN ISLANDS RESEARCH AND TECHNOLOGY PARK AND THE V.I. DEPARTMENT OF PROPERTY AND PROCUREMENT SHARES FY 2027 BUDGET - Legislature of the United States Virgin Islands Close About Us History Functions and Structure FY 2026 Budget Honor Roll Rules of the 36th Legislative Youth Advisory Council Application Careers Archives Legislative Archives Tours × St. Thomas Senators  St. John Senators  St.Croix Senators  Districts All Senators St. Croix St. Thomas - St. John Senator at Large × Committees Committee of the Whole Budget, Appropriation and Finance Culture, Youth, Aging, Sports, and Parks Disaster Recovery, Infrastructure and Planning Economic Development and Agriculture Education and Workforce Development Government Operations, Veteran Affairs and Consumer Protection Health, Hospitals and Human Services Homeland Security, Justice and Public Safety Housing, Transportation and Telecommunications Rules and Judiciary Session Folder × No event found! Calendars Bi-Weekly Senate Calendar Session Agenda × Dialog window Dialog window General Senators Committees Media Calendars Contact BUDGET, APPROPRIATIONS AND FINANCE | News | Press Releases | Senator Novelle E. Francis, Jr. THE UNIVERSITY OF THE VIRGIN ISLANDS RESEARCH AND TECHNOLOGY PARK AND THE V.I. DEPARTMENT OF PROPERTY AND PROCUREMENT SHARES FY 2027 BUDGET Published: Jul 13, 2026 Search for: ST. THOMAS, VI  - The Committee on Budget, Appropriations, and Finance, chaired by Senator Novelle E. Francis, Jr. held a meeting at the Capitol Building. Officials from the University of the Virgin Islands Research and Technology Park (RTPark) and the Virgin Islands Department of Property and Procurement (DPP) delivered testimony regarding the 2027 Executive Budget. Furthermore, testifiers outlined their agencies' priorities, discussed operational initiatives, and responded to senators' questions regarding funding needs, strategic objectives, and plans for the upcoming fiscal year.  Senator Francis reaffirmed the Committee's commitment to a thorough review of the Fiscal Year 2027 Executive Budget, emphasizing accountability, transparency, and the responsible allocation of public resources to meet the needs of the Virgin Islands. The University of the Virgin Islands Research and Technology Park Executive Director Eric Sonnier testified that the RTPark remains a self-sustaining entity that receives no General Fund appropriations and is not requesting funding from the Legislature for Fiscal Year 2027. Funded through fees paid by tenant companies, the RTPark generates more than $3 million annually for the University of the Virgin Islands while investing in entrepreneurship, workforce development, and STEM education initiatives throughout the Territory. Senator Ray Fonseca inquired about the RTPark's growth sectors. Sonnier stated the RTPark is leveraging New Markets Tax Credits, CDFI financing, and U.S. Treasury programs to support economic development. FY 2027 priorities include expanding STEM programming, establishing additional innovation centers, strengthening partnerships with the University of the Virgin Islands, and attracting more high-value businesses to the RTPark. Officials also highlighted continued growth in park tenant agreements, noting that expanding the client base will further strengthen the RTPark's financial sustainability, increase support for the University, and create new economic opportunities across St. Croix, St. Thomas, and St. John without relying on General Fund appropriations. Senator Novelle E. Francis, Jr. inquired about the status of the RTPark's audits. Sonnier responded that the audit began several months ago, and the RTPark has a plan to complete the outstanding audits. The Virgin Islands Department of Property and Procurement Commissioner Lisa Alejandro is requesting a Fiscal Year 2027 operating budget of $24.36 million to support continued modernization and operational excellence across the Territory. The proposed budget includes $19.06 million in appropriated funds and $5.3 million in non-appropriated funds to strengthen procurement, property management, transportation, printing, and asset management services. The Commissioner outlined priorities that include expanding the Government's GVIBUY eProcurement system, implementing a fleet card management system to replace paper fuel coupons, advancing technology initiatives, improving facilities and infrastructure, filling 11 new and vacant positions, and enhancing government efficiency, transparency, and accountability.  The Legislature's Post Audit Division reported that DPP proposed FY 2027 budget represents approximately a 1% increase over the previous fiscal year. The report also identified ongoing concerns related to procurement controls, asset management, and contract oversight, while highlighting outstanding vendor payments and open purchase orders as areas requiring continued fiscal accountability and operational improvement. Senators present at the committee hearing were Novelle E. Francis, Jr., Marvin A. Blyden, Ray Fonseca, Hubert L. Frederick, Dwayne M. DeGraff, Avery L. Lewis, Clifford Joseph, Kurt A. Vialet, Marise C. James, and Carla J. Joseph.  The Division of Public Affairs is committed to providing the community with  accurate  information on legislative proceedings and other events at the Legislature of the Virgin Islands. Visit legvi.org. For Immediate Release                                             Press Contact: Africah N.T. Harrigan Email: aharrigan@legvi.org ### Find More Search for: Categories News Observances Press Releases Special Events Related Content COMMITTEE REVIEWS FY 2027 EXECUTIVE BUDGET REQUESTS FOR GOVERNOR’S OFFICE, LIEUTENANT GOVERNOR’S OFFICE, AND BUREAU OF MOTOR VEHICLES July 23, 2026 ST. CROIX, U.S. VIRGIN ISLANDS – Members of the Committee on Budget, Appropriations, and Finance, chaired by Senator Novelle E. Francis Jr., met in the Frits E. Lawaetz Conference Room to receive testimony on the proposed Fiscal Year 2027 budgets for... 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