N.M. Admin. Code § 19.2.22.8 - LEASING STANDARDS

A. The surface estate of any parcel or combination of parcels of trust land may be leased under a planning and development lease at the discretion of the commissioner.

B. A planning and development lease may be initiated only through public notice and a public auction in accordance with this rule and other applicable law, including but not limited to NMSA 1978 Section 19-7-9(c) (2009).

C. In making a determination as to whether to enter a planning and development lease, the commissioner will make a determination as to whether the lease is in the best interest of the trust based on specific considerations including but not limited to:

(1) the present value and estimated future value that will be created for the trust;

(2) the anticipated impact on trust lands adjacent to or near the proposed planning and development lease;

(3) the proposed planning and development lease's conformance with any joint planning agreements or existing land use plans;

(4) the interests of the local community;

(5) the feasibility of the proposed development project; and

(6) the ability of a lessee to execute the proposed development project.

D. Notwithstanding any other provision of 19.2.22 NMAC, and at any time before the execution of a planning and development lease, the commissioner may, at the commissioner's discretion, reject any application or bid submitted under 19.2.22 NMAC.

Notes

N.M. Admin. Code § 19.2.22.8

19.2.22.8 NMAC - Rp, 19.2.22.8 NMAC, 11/30/12