Governance

Within this section of our website, you may learn more about our governance by downloading associated documentation, including Minutes of the Regular (open) sessions of our Board meetings. Other documents of possible interest, including bid solicitations and requests for information or proposal, will be posted periodically. As an autonomous instrumentality of the Virgin Islands government, and as agents of your trust, we take our responsibilities for openness, integrity and professionalism seriously.

Our charter and legislative mandate was established by Act 6502 of the Virgin Islands Legislature in 2002, and revised by Act 6726 in 2005. These are reflected in Title 17 of the Virgin Islands Code, Chapters 34 and 43. (The Virgin Islands Code may be browsed online at Michie’s Legal Resources.)

Our Bylaws were adopted August 31, 2002 and amended February 1, 2008, and may be further amended by the Board from time to time. The Bylaws apply to both entities which collectively comprise RTPark: the University of the Virgin Islands Research and Technology Park Corporation (established under Title 17, Chapter 34 of the Virgin Islands Code), and its tax-incented wholly-owned subsidiary the Research and Technology Park Protected Cell Corporation (established under Title 17, Chapter 43 of the Virgin Islands Code). The Bylaws govern the internal affairs of the Board of Directors and establish RTPark’s management structure.

Our independent Board of Directors is comprised of three individuals appointed directly by the Governor, and four individuals who are also members of the UVI Board of Trustees. Our Executive Director’s responsibilities are defined in our Bylaws, and the Executive Director is directly supervised by the Board. Our financial statements are subject to audit, on an annual basis, by a major accounting firm. Our budget is subject to approval by our Board, and to further oversight by the Governor and the Virgin Islands Legislature. Certain confidential materials and matters, however, are necessarily protected by law and by contract.

Our practices are governed by Guiding Principles established by mutual agreement between RTPark and the University of the Virgin Islands on October 12, 2002, and may be amended by mutual agreement between RTPark and UVI from time to time. The Guiding Principles define the relationship between RTPark and UVI, the use of certain assets, and standards for governance, management, and tenant selection and approval.