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S RESOLUTION FOR THE BOARD OF TRUSTEES 20. (Board of Trustees Meeting, June 9, 1985) RESOLUTION FOR THE EXCHANGE OF LONG-TERM USE PERMITS BETWEEN THE COLLEGE OF THE VIRGIN ISLANDS AND THE VIRGIN ISLANDS PORT AUTHORITY WHEREAS, the Virgin Islands Port Authority is desirous of acquiring the use of a portion of Estate Lindberg Bay #66, Southside Quarter, St. Thomas, being an area of 1.5 acres more or less, belonging to the College of the Virgin Islands for the purpose of locating general aviation maintenance facilities; and WHEREAS, the College of the Virgin Islands is desirous of acquiring the use of a portion of Estate Lindberg Bay #68, Southside Quarter, St. Thomas, being an area of 2.9 acres more or less, belonging to the Virgin Islands Port Authority; and WHEREAS, the College of the Virgin Islands is desirous of acquiring the use of Parcel #71-D Estate Lindberg Bay, St. Thomas, being an area of 0.5 acres more or less, belonging to the Virgin Islands Port Authority; and WHEREAS, the College of the Virgin Islands after due con- sideration and appraisal, is satisfied that such exchange of Use Permits is in the best interest of the College; NOW THEREFORE, be it resolved that the President and Vice-President for Business and Financial Affairs are hereby authorized to negotiate the terms and con- ditions for the exchange of Use Permits with the Virgin Islands Port Authority and to execute any and all documents, including but not limited to Use Permits, necessary to grant to the Virgin Islands Port Authority for ninety-nine years the right to use and occupy a portion of Estate Lindberg Bay No. 66, Southside Quarter, St. Thomas, described above, for the purpose of locating general aviation maintenance facilities, in exchange for the grant to the College of the Virgin Islands by the Port Authority of permission to use and occupy, for ninety- nine years, that portion of Estate Lindberg Bay #68, Southside Quarter, St. Thomas, described above, and parcel No. 71-D Estate Lindberg Bay, St. Thomas described above; and to take any other actions which they, in their discretion consider appropriate and in the best interests of the College to accomplish the foregoing. RESOLUTION FOR THE EXCHANGE OF LONG-TERM USE PERMITS BETWEEN THEO 1°” COLLEGE OF THE VIRGIN ISLANDS AND THE VIRGIN ISLANDS PORT AUTHORITY CERTIFICATION The undersigned does hereby certify that the foregoing is a true and exact copy of a resolution of the Board of Trustees of the College of the Virgin Islands adopted at its meeting on__June 9 1985, as recorded in the minutes of said meeting. DATED: 10 June 85 eZ eA LigaenF ecretary of the Boar e h © > STATEMENT ON THE EXCHANGE OF LONG-TERM USE PERMITS BETWEEN THE COLLEGE oF ‘aft 7 VIRGIN ISLANDS AND THE VIRGIN ISLANDS PORT AUTHORITY FOR CERTAIN PARCELS OF LAND ” INTRODUCTION: The subject of this statement is a proposed exchange of long- term use permits between the College of the Virgin Islands and the Virgin Islands Port Authority for certain parcels of land. The parcels of land designated as areas "A" and "C" are located on property of the Virgin Islands Port Authority. The parcel designated as "B" is located on the St. Thomas campus of the College of the of the Virgin Islands. PROPOSAL: By letter of March 22, 1985, Mr. John E. Harding, Executive Director of the Virgin Islands Port Authority (VIPA), communicated his interest in the possibility of exchanging lands or use permits beneficial to both parties. Mr. Harding expressed a particular interest in a small plot adjacent to and west of the Crash-Fire-Rescue building, at the eastern entrance to the campus, and immediately south of Merchant's Market. This parcel of land is being requested by VIPA for the purpose of locating a general aviation maintenance facility. In turn the College expressed an interest in two plots. The plot designated "A", north of the Golf Club House and Plot "C" southeast of the Physical Plant complex. DESCRIPTION OF The accompanying Exhibit A provides a brief description of Ten SRE rRS SE important features and characteristics of the properties involved in the proposed exchange. The comparative data gives information on the location of the land parcels, sizes of the areas in terms of acreage, the topography, improvements, current use, zoning, encumbrances and appraised values. The location of the properties are also identified on the campus map, Exhibit B. Exhibit C provides information relative to the appraisal of the properties. COMPARATIVE ACREAGE The exchange would give the College use and access to about 3.4 SRD ERERERES REET acres while releasing 1.5 acres for use by VIPA, a net gain of 1.9 acres. IMPACT ON FUTURE DEVELOPMENT : Page two 203 From an appraised value standpoint, the combined value of yor the properties which would be used by the College total $177,725 compared to $107,811 for the parcelexchanged with VIPA. These comparative figures reflect a net gain in property values to e the College of $69,914. The acquisition of Plot "A" would extend the College's northern boundary to the back road between the Library and the Business Office. An early master plan shows a gymnasium on this very site; use of this site would allow for the the expansion of the tennis court facilities, the addition of handball court, and a road from the recreation Center (Golf Club House) to the back road north west of the existing tennis courts. A more recent proposal suggested use of this portion of land as an experimental plot for the agricultural experiment station. From the standpoint of potential uses, Plot "C" is well suited to the development of a nursery to support the College's landscaping program. This would replace the small area in the Plant yard which is now used for storing plants and ease the congestion that now exists there. On the other hand, the College would give up plot "B" which could serve potentially as an extension of the playing fields on the south-edge of the campus. The area to be released is not suited for building development in as much as it is located across from Merchant's Market; however, it does have commercial potential which would be given up as a result of the exchange. It should be pointed out that even though this plot is located at the south eastern entrance to the campus, it is immediately across from Merchant's Market. The net effect of this is that, for aesthetic purposes, the entrance to the campus is considered to be several hundred yards west of the property line. RECOMMENDATION: Page three 204 O- rs v The proposed use of Plot "B" by the Virgin Islands Port Authority is not expected to impact adversely on the College's present or future development. The area has not been used by . the College for years even though it is used by small family groups as a playing field and picnic area. The College would lose a small coconut grove which the VIPA has agreed to relocate to a site to be identified by the College. All factors considered, the exchange is seen to be in the interest of the College. The exchange of use permits for 99 years is recommended, but with a clear stipulation to VIPA that the property be used for the stipulated purpose. of locating a general aviation maintenance facilities. *SuOT}ITIWSeI BUTPTTNq yyga 03 yoefqns *satio8eqje. quoudoTeAsp jo AjaTieA peyrwE[un ysowye sqytwzed uof eoTsTsse[D - IFTGNG - gd » 9ET‘9Z$ TI8*ZOTS 68S ‘*IST$ senTeA pesfeaddy ouoN 78/8/S ®TIFL TInMd auON : saoueAqunoUg d ¥ d ¥ d * . 3B8upzuo0z aUuON Baie ofuotd/prtefy BupAetd aUON :989 JUeTIND ‘@NTBA Juairedde ou jo ainjoni3s snofaAeid e jo suteweay peaoraduzuy peaoasduzuy :Squeweaaoirdwy “aT | y8nozy} Bufuuns 3n3 eB Y4ITM apeiZ daaqs 07 a e1apoOW Aqaedoad Taaay apei3 daaqs 09 a3e1ApOW :AyderZodoy | saioe ¢°0 soise ¢*{ sar1se 6°27 :Beely *yoayszeQ Ss, JueYyoIeW jo yInos pue BUTPTINq enosey eity-yseig 2y3 JO 3SeM pue 02 Jusoefpe st II *sndweds ay} 0} a0UPIQUe Ul1ajSsee *sndweod ay} 3e peor IF [Gnd ufew ay jo e8pa uzayjiou 343 ay} 0} vdUeIJUe U1ezSee 93 uo uleqzSsfToO uoTTes uoT{TTTw xeTduod yuetd Teofshkud qe pue ‘j10daty 3uty ‘ga T4490 (1) euo ay2 FO YINos pue aZaT[o9 e432 Jo Iseay nos ay2 Jo yqiou ATezeTpowy @snoy qNTD JTOD aya FO YIAON UOT 38907 (WdIA) 9 LOld (IAD) a LOld (WdIA) V LOld : vy ITaTHYa ADNVHOXA GASOdOUd AHL NI ALWAdONd AO NOILdITdOSAa ( —— Ww eee 3 “\)W\ ea 4 — <\ cw YU + ul yx o. tu Vv Uw MSS Y= : Se a aa ' »~ | Bind iM ound <> yy OS Ty. <9 el iq on oO E = 6 o | Wf} oa! “g- Vv al ‘ie o| | HI + O; AY Hf il u lh x} i N ‘e Su y ie i = = ao ——— ox y al z SAAS age 3s wr yy $- BAIN a ve, =p nH A Aah H ee S«é vil zs ab ei as “sl Y // ~~ _@ of Y —— aoe Oe ag OY 7 a Bn ae GM is "Se EXHIBIT C 207 Sanppiper . oy: Real Estate Sales — Appraising — Management Hay 22, 1985 Mr. R. F. Waters College Architecture College of the Virgin Islands St. Thomas, Virgin Islands Dear Mr. Waters: In accordance with your request for an appraisal of the market value of the unencumbered fee simple title to the properties known as: Lease Areas "'B'' and "'C'' on Parcel No. 66 Together with Lease Area "A" on Parcel No, 68 Estate Lindberg Bay Southside Quarter St. Thomas, Virgin Islands I have personal ly inspected the properties and have made-a careful and detailed analysis of all factors pertinent to the estimate of value. The accompanying report contains the results of my Investigation and based on the Market Comparison Approach, the market value of the subject properties as of this date is: Lease Area "A'' = $151,589.00 Lease Area "B"' = $107,811.00 —<> Lease Area "C'' = $ 26,136.00 Sincerely, Steven Jamron SJ/db P.O. Box 6875, St. Thomas, U.S. Virgin Islands 00801 (809) 774-7797