An Act approving the lease agreement between the Government of the Virgin Islands and Tropical Marine, Inc., for Parcel No. 37-1 Estate Nadir, No. 2 Red
Sponsored By: Sponsor information unavailable
Enacted
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Tropical Marine gets long-term St. Thomas lease
The law approves a lease with Tropical Marine, Inc. for two parcels in Estate Nadir, Red Hook, St. Thomas. The sites are about 20,908.8 square feet and 7,083 square feet. Tropical Marine can run a retail shop, a marine engine repair shop, a parking lot, and import and sell goods. The lease runs for 50 years and can be renewed twice for 10 years each.
Tropical Marine lease rent and discount
The lease sets rent at $30,000 per year, paid as $2,500 each month. For months 1–24, or until improvements are finished (whichever is earlier), rent is discounted to $2,000 per month. After that, rent returns to $2,500 per month.
Sponsors & Cosponsors
Sponsors
There is no primary sponsor on record.
Cosponsors
Milton E. Potter
legislature
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Enacted
4/28/2025legislatureTo Governor
4/16/2025legislatureFloor
4/14/2025legislatureRules
3/27/2025legislatureIntroduced
2/27/2025legislatureCommittee
1/21/2025legislature
Bill Text
Enacted Act
4/28/2025
Governor's Message
4/28/2025
Bill Text
2/27/2025
Related Bills
Bill No. 36-0393, An act amending Act No. 9035 to reprogram funds within the 2026 fiscal year budget for Virgin Islands Department of Health to provide a $2,500,000 appropriation
Lease 36-0293, An act approving the lease agreement between the Government of the Virgin Islands and The St. Thomas Cricket Association Inc. for Parcel No-2 of Tract
Bill No. 36-0192, An act amending title 34 Virgin Islands Code, chapter 15 to enact the Senior Financial Protection and Promissory Note Abuse Prevention Act of 2025
Bill No. 36-0290, An act granting a zoning use variance for Plot No. 104 Estate Concordia, Westend Quarter, St. Croix from the R-2 (Residential Low Density–One and Two Family)
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,
Bill No. 36-0392, An act amending title 33 Virgin Islands Code, chapter 111 creating the Virgin Islands Contractor Bonds Cost Revolving Loan Fund