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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 25 - Indians |
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Chapter I - Bureau of Indian Affairs, Department of the Interior |
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SubChapter H - Land and Water |
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Part 162 - Leases and Permits |
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Subpart E - Wind and Solar Resource Leases |
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WSR Lease Monetary Compensation Requirements |
§ 162.551 - How will BIA determine fair market rental for a WSR lease?
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§ 162.551 How will BIA determine fair market rental for a WSR lease?
(a) We will use a market analysis, appraisal, or other appropriate valuation method to determine the fair market rental before we approve a WSR lease of individually owned Indian land or, at the request of the tribe, for tribal land.
(b) We will either:
(1) Prepare, or have prepared, a market analysis, appraisal, or other appropriate valuation method; or
(2) Use an approved market analysis, appraisal, or other appropriate valuation method from the Indian landowners or lessee.
(c) We will use or approve use of a market analysis, appraisal, or other appropriate valuation method only if it:
(1) Has been prepared in accordance with USPAP or a valuation method developed by the Secretary under 25 U.S.C. 2214; and
(2) Complies with Department policies regarding appraisals, including third-party appraisals.
(d) Indian landowners may use competitive bidding as a valuation method.