The purpose of this RFP is to solicit proposals from suitably qualified firms to design, finance, develop/construct, and operate the newly built Clinton E. Phipps Race Track on St. Thomas, US Virgin Islands. Such operations will include providing Marketing and Public Relations, Event Management, Sponsorship, Endorsements, Ticket Sales, and Fan Engagement for sports and event promotion. The Government intends to enter into a long-term development and lease agreement with the successful respondent consistent with the provisions of Title 31, Section 205, of the Virgin Islands Code which provides that the Legislature of the Virgin Islands must ratify all leases in excess of one (1) year. The specific terms of the development and ground lease agreements will be negotiated with the successful respondent. The Lease will contain specific negotiated terms for development, in which case, if the Lessee fails to develop and operate the property in accordance with the Lease, the Lessee will be deemed in breach of the lease for failure to comply with the terms therewith. For the lease, it is anticipated that the Government will seek to establish a minimum base rent with a percentage above a certain revenue threshold which will be negotiate
