(a) The right to own property is a fundamental right of all citizens.
(b) Homeownership generally promotes pride and encourages responsibility toward the property in the owner.
(c) Tenants of public housing in the Virgin Islands have a right to be consulted and to participate in the development of a plan that will enable them to accrue equity in public housing stock and ultimately to purchase a unit of public housing.
(d) No single pathway to homeownership need be adopted by all tenants of public housing; different purchase arrangements may be developed and followed by different groups of tenants.
(e) No tenant may be forced to give up his rental units for purchase by another, and no tenant may be forced to participate in a home-purchase pathway or arrangement.
(f) Public housing units subject to sale must be in good and habitable condition, free of storm damage or deterioration. New or renovated public housing units may be purchased under an approved pathway to homeownership.
(g) The purchase price of a public housing unit may be less than fair market value and may be negotiated to reflect the purchaser's ability to buy. Qualifying buyers may purchase public housing units for as little as one dollar.
(h) Tenants of public housing in good standing with the longest tenure shall have priority over tenants with less tenure.
(i) Tenants have the right to free training in the rights and responsibilities of owning their own homes.
(j) Tenants may accumulate credit toward the purchase of a unit of public housing through the performance of non-routine maintenance and improvements; i.e. “sweat” equity.
(k) Monies realized through the sale of public housing units shall be invested in programs to provide replacement public housing in the territory.