An Act approving the lease agreement between the Government of the Virgin Islands and Charles M. Kim V.I. Foundation, Inc. d/b/a Virgin Islands Museum
Sponsored By: Sponsor information unavailable
Signed by Governor
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Virgin Islands Museum gets 99-year lease
The law approves a long-term lease for the Virgin Islands Museum of Art in St. Thomas. It covers a 12,300 sq. ft. building on a 10,006 sq. ft. lot at Lot 48b Norre Gade. The term is 99 years, with two 50-year renewal options. Rent is $0 during months 1 through 60 for construction, then $1,200 each year. The tenant must demolish, renovate, or rebuild a historic-looking replica with at least 7,500 interior sq. ft. The site must be used for museums, galleries, exhibitions, community uses, studios, related offices, and retail.
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
2/18/2025legislature
Bill Text
Enacted Act
4/28/2025
Governor's Message
4/28/2025
Bill Text
2/27/2025
Related Bills
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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