Whenever it is required by law or regulation that a bonded alien residing in any urban renewal project area in the Virgin Islands shall be relocated, the responsibility for such relocation shall rest with the employer of said bonded alien. The Executive Director of the Virgin Islands Housing Finance Authority shall give due notice in writing of the required relocation to the bonded alien in question and to his employer with a time limit to vacate the premises. At the expiration of the time limit, if the bonded alien has not vacated the premises or if the employer has failed to find accommodations for the relocation of the bonded alien, the proper authorities of the Government of the United States Virgin Islands shall take the necessary steps requesting that the alien's bond be cancelled.