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
Signed by Governor
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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
There are no cosponsors for this bill.
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
Lease 36-0098, 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. 36-0261, An act establishing a 33-business day amnesty to assist taxpayers and businesses recovering from the aftermath of Hurricanes Irma and Maria and Tropical
Bill No. 36-0198, An act amending Act No. 9035 by redesignating the funding source for several entities and correcting a typographical error and amending Act No. 9045 by
Bill No. 36-0219, An act amending title 22 Virgin Islands Code, chapter 31 relating to the Virgin Islands Producer and Adjuster Licensing Act by modifying renewal provisions
Bill No. 36-0199, An act approving the lease agreement between the Government of the Virgin Islands, acting through the Commissioner of the Department of Property and Procurement,
Lease 36-0204, An act approving a multi-year lease agreement between the Government of the Virgin Islands, acting through its Commissioner of the Department of Property