[Congressional Bills 110th Congress]
[From the U.S. Government Printing Office]
[H.R. 1143 Referred in Senate (RFS)]
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.
(e) Compensation.--
(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.