The Department of Property and Procurement is authorized by Title 31, Sections 3021, 232, 236 and 261 to manage and control all Government Real and Personal Properties to include acquisitions, dispositions, commercial leasing and property distribution. The department manages all government leasehold contracts and government agencies request for office space. The Department is responsible for relative activities that involve all aspects of real estate negotiation, contract preparation, property inspection, appraisal and survey of property.
The Division of Property administers over 169 leases with rent royalties valued over 1.3 million. At present, the Government cannot re-negotiate leases that are in full force and effect. The terms and conditions under these agreements govern these documents. Leases can only be re-negotiated at the expiration, cancellation or termination of an agreement. In an effort to ensure that the Government receives full value of rental properties, the Department requests independent appraisal reports that contain market data that provides the Department with the information necessary to negotiate leases. This Department manages over 158 accounts representing over $8.244 million in leases space acquired for various government operations and agencies.
Authority for exercising control and management of Government Property in the Virgin Islands of the United is vested in the Commissioner of Property and Procurement. Section 201 of Title 31 of the Virgin Islands Code constitutes the basis for all actions by the Commissioner in matters relating to the management and control of public property.
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