HR 1143
3-4-08, Bill Passed House 378-0
Referred to Senate
Committee on Energy & Natural Resources
110th CONGRESS
2d Session
H. R. 1143
IN THE SENATE OF THE UNITED STATES
March 5, 2008
Received; read twice and referred to the Committee on Energy and Natural
Resources
AN ACT
To authorize the Secretary of the Interior to lease certain lands
in Virgin Islands National Park, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled,
SECTION 1. DEFINITIONS.
In this Act, the following definitions apply:
(1) SECRETARY- The term `Secretary' means the Secretary of the Interior.
(2) RUE- The term `RUE' means the retained use estate entered into by the
Jackson Hole Preserve and the United States on September 30, 1983.
(3) PARK- The term `park' means Virgin Islands National Park.
(4) CBI- The term `CBI' means CBI Acquisitions, LLC.
(5) RESORT- The term `Resort' means Caneel Bay Resort on the island of St.
John in Virgin Islands National Park.
SEC. 2. LEASE AGREEMENT.
(a) Authorization- The Secretary may enter into a lease agreement with CBI
governing the use of property for the continued management and operation of
the Resort.
(b) Additional Lands- Any lease entered into pursuant to this Act shall include
the property covered by the RUE and any associated property owned by CBI donated
to the National Park Service.
(c) Terms- The lease agreement authorized under subsection (a) shall--
(1) require that operations and maintenance of the Resort are conducted
in a manner consistent with the preservation and conservation of the resources
and values of the Park as well as the best interests of the Resort;
(2) be for the minimum number of years practicable to enable the lessee
to secure financing for any necessary improvements to the Resort, taking
into account the financial obligations of CBI, but in any event shall not
exceed 40 years;
(3) prohibit any transfer, assignment or sale of the lease or otherwise
convey or pledge any interest in the lease without prior written notification
to and approval by the Secretary;
(4) prohibit any increase in the number of guest accommodations available
at the Resort;
(5) prohibit any increase in the overall size of the Resort;
(6) prohibit the sale of partial ownership shares or timeshares in the Resort;
(7) be designed to facilitate transfer of all property covered by the lease
to Federal administration upon expiration of the lease; and
(8) include any other provisions determined by the Secretary to be necessary
to protect the Park and the public interest.
(d) Appraisals- The Secretary shall require appraisals to determine the fair
market value of all property covered by the RUE and any property, including
the value, if any, of the surrendered term of the RUE, owned by CBI to be
donated, or otherwise conveyed, to the National Park Service. Such appraisals
shall be conducted pursuant to the Uniform Appraisal Standards for Federal
Land Acquisition.
(1) IN GENERAL- The lease authorized by this Act shall--
(A) require payment to the United States of the property's fair market
value rent, taking into account the value of any associated property transferred
by CBI as well as the value, if any, of the surrendered term of the RUE;
(B) include a provision--
(i) allowing recalculation of the amount of the payment required under
this subsection, at the request of the Secretary or CBI, in the event
of extraordinary unanticipated changes in conditions anticipated at
the time the lease was finalized; and
(ii) providing for binding arbitration in the event the Secretary and
CBI are unable to agree upon an adjustment to the payment in these circumstances.
(2) DISTRIBUTION- Eighty percent of the payment to the United States required
by this subsection shall be available to the Secretary, without further
appropriation, for expenditure within the Park. The remaining twenty percent
shall be deposited in the Treasury.
(3) APPLICABILITY OF CERTAIN LAW- Section 321 of the Act of June 30, 1932
(40 U.S.C. 1302), relating to the leasing of buildings and property of the
United States, shall not apply to the lease entered into by the Secretary
pursuant to this Act.
SEC. 3. RETAINED USE ESTATE.
As a condition of the lease, CBI shall relinquish to the Secretary all rights
under the RUE and transfer, without compensation, ownership of improvements
covered by the RUE to the United States.
Passed the House of Representatives March 4, 2008.
Attest:
LORRAINE C. MILLER,
Clerk.
By Deborah M. Spriggs,
Deputy Clerk.
END