110TH CONGRESS 

2D SESSION H. R. 1143 

AN ACT 

To authorize the Secretary of the Interior to lease certain 

lands in Virgin Islands National Park, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 
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1 SECTION 1. DEFINITIONS. 

2 In this Act, the following definitions apply: 

3 (1) SECRETARY.—The term ‘‘Secretary’’ means 

4 the Secretary of the Interior. 

5 (2) RUE.—The term ‘‘RUE’’ means the re6 tained use estate entered into by the Jackson Hole 

7 Preserve and the United States on September 30, 

8 1983. 

9 (3) PARK.—The term ‘‘park’’ means Virgin Is10 lands National Park. 

11 (4) CBI.—The term ‘‘CBI’’ means CBI Acqui12 sitions, LLC. 

13 (5) RESORT.—The term ‘‘Resort’’ means 

14 Caneel Bay Resort on the island of St. John in Vir15 gin Islands National Park. 

16 SEC. 2. LEASE AGREEMENT. 

17 (a) AUTHORIZATION.—The Secretary may enter into 

18 a lease agreement with CBI governing the use of property 

19 for the continued management and operation of the Re20 sort. 

21 (b) ADDITIONAL LANDS.—Any lease entered into 

22 pursuant to this Act shall include the property covered by 

23 the RUE and any associated property owned by CBI do24 nated to the National Park Service. 

25 (c) TERMS.—The lease agreement authorized under 

26 subsection (a) shall— 
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1 (1) require that operations and maintenance of 

2 the Resort are conducted in a manner consistent 

3 with the preservation and conservation of the re4 sources and values of the Park as well as the best 

5 interests of the Resort; 

6 (2) be for the minimum number of years prac7 ticable to enable the lessee to secure financing for 

8 any necessary improvements to the Resort, taking 

9 into account the financial obligations of CBI, but in 

10 any event shall not exceed 40 years; 

11 (3) prohibit any transfer, assignment or sale of 

12 the lease or otherwise convey or pledge any interest 

13 in the lease without prior written notification to and 

14 approval by the Secretary; 

15 (4) prohibit any increase in the number of 

16 guest accommodations available at the Resort; 

17 (5) prohibit any increase in the overall size of 

18 the Resort; 

19 (6) prohibit the sale of partial ownership shares 

20 or timeshares in the Resort; 

21 (7) be designed to facilitate transfer of all prop22 erty covered by the lease to Federal administration 

23 upon expiration of the lease; and 
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1 (8) include any other provisions determined by 

2 the Secretary to be necessary to protect the Park 

3 and the public interest. 

4 (d) APPRAISALS.—The Secretary shall require ap5 praisals to determine the fair market value of all property 

6 covered by the RUE and any property, including the value, 

7 if any, of the surrendered term of the RUE, owned by 

8 CBI to be donated, or otherwise conveyed, to the National 

9 Park Service. Such appraisals shall be conducted pursuant 

10 to the Uniform Appraisal Standards for Federal Land Ac11 quisition. 

12 (e) COMPENSATION.— 

13 (1) IN GENERAL.—The lease authorized by this 

14 Act shall— 

15 (A) require payment to the United States 

16 of the property’s fair market value rent, taking 

17 into account the value of any associated prop18 erty transferred by CBI as well as the value, if 

19 any, of the surrendered term of the RUE; 

20 (B) include a provision— 

21 (i) allowing recalculation of the 

22 amount of the payment required under this 

23 subsection, at the request of the Secretary 

24 or CBI, in the event of extraordinary un25 anticipated changes in conditions antici-
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1 pated at the time the lease was finalized; 

2 and 

3 (ii) providing for binding arbitration 

4 in the event the Secretary and CBI are un5 able to agree upon an adjustment to the 

6 payment in these circumstances. 

7 (2) DISTRIBUTION.—Eighty percent of the pay8 ment to the United States required by this sub9 section shall be available to the Secretary, without 

10 further appropriation, for expenditure within the 

11 Park. The remaining twenty percent shall be depos12 ited in the Treasury. 

13 (3) APPLICABILITY OF CERTAIN LAW.—Section 

14 321 of the Act of June 30, 1932 (40 U.S.C. 1302), 

15 relating to the leasing of buildings and property of 

16 the United States, shall not apply to the lease en17 tered into by the Secretary pursuant to this Act. 

18 SEC. 3. RETAINED USE ESTATE. 

19 As a condition of the lease, CBI shall relinquish to 

20 the Secretary all rights under the RUE and transfer, with-
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1 out compensation, ownership of improvements covered by 

2 the RUE to the United States. 

Passed the House of Representatives March 4, 

2008. 

Attest: 

Clerk. 

110TH CONGRESS 

2D SESSION H. R. 1143 

AN ACT 

To authorize the Secretary of the Interior to lease 

and for other purposes. certain lands in Virgin Islands National Park,