National Park Service Concession Contracts; Implementation of Alternative Valuation for Leasehold Surrender Interest in the Signal Mountain Lodge and Leeks Marina Proposed Concession Contract, Grand Teton National Park, 5113-5114 [2010-1864]

Download as PDF Federal Register / Vol. 75, No. 20 / Monday, February 1, 2010 / Notices at 8 a.m. in the Conference Room of the Inn at Southbridge, 1020 Main St., St. Helena. Time for public comment has been reserved for 11 a.m. FOR FURTHER INFORMATION CONTACT: Nancy Haug, BLM Northern California District manager, (530) 221–1743; or BLM Public Affairs Officer Joseph J. Fontana, (530) 252–5332. SUPPLEMENTARY INFORMATION: The 12member council advises the Secretary of the Interior, through the BLM, on a variety of planning and management issues associated with public land management in Northwest California. At this meeting agenda topics include discussion of BLM image and identity issues, a status report on public land equestrian projects in the Northwest California region, a status report on land use planning, information on activities at the Weaverville Community Forest, a status report on the North Coast Geotourism MapGuide project, access to South Cow Mountain and projects being undertaken as part of the American Reinvestment and Recovery Act. All meetings are open to the public. Members of the public may present written comments to the council. Each formal council meeting will have time allocated for public comments. Depending on the number of persons wishing to speak, and the time available, the time for individual comments may be limited. Members of the public are welcome on field tours, but they must provide their own transportation and lunch. Individuals who plan to attend and need special assistance, such as sign language interpretation and other reasonable accommodations, should contact the BLM as provided above. Dated: January 22, 2010. Joseph J. Fontana, Public Affairs Officer. [FR Doc. 2010–2003 Filed 1–29–10; 8:45 am] BILLING CODE 4310–40–P DEPARTMENT OF THE INTERIOR jlentini on DSKJ8SOYB1PROD with NOTICES National Park Service National Park Service Concession Contracts; Implementation of Alternative Valuation for Leasehold Surrender Interest in the Signal Mountain Lodge and Leeks Marina Proposed Concession Contract, Grand Teton National Park National Park Service, Interior. Notice. AGENCY: ACTION: SUMMARY: The National Park Service (NPS) is proposing, subject to consideration of public comments, to VerDate Nov<24>2008 18:35 Jan 29, 2010 Jkt 220001 utilize an alternative formula for the valuation of leasehold surrender interest under its proposed concession contract GRTE003–11 for operation of the Signal Mountain Lodge and Leeks Marina at Grand Teton National Park (‘‘new contract’’). DATES: Public comments will be accepted on or before March 3, 2010. ADDRESSES: Send comments to Ms. Jo A. Pendry, Chief, Commercial Services Program, National Park Service, 1201 Eye Street, NW., 11th Floor, Washington, DC 20005 or via e-mail at jo_pendry@nps.gov or via fax at 202/ 371–2090. FOR FURTHER INFORMATION CONTACT: Jo Pendry, Chief Commercial Services Program, 202–513–7156. SUPPLEMENTARY INFORMATION: The standard formula for leasehold surrender interest (‘‘LSI’’) value for applicable improvements provided by a concessioner under a National Park Service concession contract as defined in 36 CFR part 51 (‘‘standard formula’’) is as follows: (1) The initial construction cost of the related capital improvement, (2) Adjusted by (increased or decreased) the same percentage increase or decrease as the percentage increase or decrease in the Consumer Price Index from the date the Director approves the substantial completion of the construction of the related capital improvement to the date of payment of the leasehold surrender interest value; (3) Less depreciation of the related capital improvement on the basis of its condition as of the date of termination or expiration of the applicable leasehold sulTender interest concession contract, or, if applicable, the date on which a concessioner ceases to utilize a related capital improvement (e.g., where the related capital improvement is taken out of service by the Director pursuant to the terms of a concession contract). However, Section 405(a)(4) of Public Law 105–391 authorizes the inclusion of alternative LSI value formulas in concession contracts (such as the new contract) estimated to have an LSI value in excess of $10 million. One acceptable alternative methodology identified in Public Law 105 391 calls for the depreciation of LSI value on the basis of Internal Revenue Code requirements as they existed in 1998. However, NPS is proposing an alternative LSI formula that avoids Internal Revenue Code complexities in LSI valuation. The proposed alternative formula has two components: One for initial LSI value (as of the commencement of the contract) and a second for new LSI value, e.g., that PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 5113 credited during the term of the contract, as described below: (1) Initial LSI Value. The reduction of the initial LSI value under the new contract on a monthly straight-line depreciation basis, applying a 40-year recovery period regardless of asset class. There is no adjustment of the initial LSI value as a result of the installation (including replacement) of fixtures in the related capital improvements during the term of the proposed contract; and (2) New LSI Value. The reduction of the leasehold surrender interest value in any new structures or major rehabilitations constructed during the term of the new contract to be based on straight-line depreciation and also apply a 40-year recovery period (on a monthly basis) with no asset class distinctions. The construction cost of new capital improvements will include the costs of installed fixtures. Any installation (or replacement) of fixtures after the initial construction would not alter the established LSI value in the improvements. In summary, the proposed alternative formula: (1) Depreciates all asset classes composing LSI value over a 40-year recovery period; and (2) Eliminates adjustments of the initial LSI value as a result of the installation (or replacement) of fixtures during the contract term. The NPS has determined, subject to consideration of public comment and after scrutiny of the financial and other circumstances involved in the proposed contract, that utilization of the proposed alternative formula, as compared to the Standard Formula set forth above, is necessary in order to: (1) Provide a fair return to the Government from the revenues of the proposed contract; and (2) Further competition for the proposed contract by providing a reasonable opportunity for the concessioner to make a profit under the new contract. The NPS has also taken into consideration the fact that the proposed alternative formula provides a recovery period (40 years) for LSI improvements, which exceeds that which would have been provided by the Internal Revenue Code in 1998. This is because the recovery period of the proposed alternative formula would apply to all LSI improvements, regardless of their Internal Revenue Code asset class and applicable recovery period. We consider that adoption of the proposed alternative formula will not impact the projected rate of return of the new concessioner under the terms of the new contract (as opposed to inclusion of the standard formula). This is because, in developing the minimum franchise fee to be included in the new contract, E:\FR\FM\01FEN1.SGM 01FEN1 5114 Federal Register / Vol. 75, No. 20 / Monday, February 1, 2010 / Notices we will assess the projected revenues and expense of the business activities we will authorize and estimate a fair return to the new concessioner taking into account applicable industry norms. As part of this assessment, we will calculate the cost to the new concessioner of acquiring the existing LSI (and any required new LSI improvements). The minimum franchise fee, accordingly, will reflect the financial consequences of the proposed alternative formula such that the estimated reasonable opportunity for profit to the new concessioner would be projected to be the same whether the new contract included the standard formula or the proposed alternative formula. The proposed alternative formula will not lower the projected returns to the new concessioner but will reduce the speculative nature of LSI value under the standard formula. Please note that, in the interest of time, the NPS may issue a prospectus for the new contract in the near future that incorporates the proposed alternative formula. If consideration of public comments in response to this notice causes us to alter the proposed alternative formula, we will amend the prospectus accordingly before the deadline for submission of proposals. Before including your address, phone number, e-mail address, or other identifying information in your comment, you should be aware that your entire comment—including your personal identifying information—may be made publicly available at any time. While you can ask us in your comment to withhold your personal identifying information from public review, we cannot guarantee that we will be able to do so. Daniel N. Wenk, Deputy Director, Operations. [FR Doc. 2010–1864 Filed 1–29–10; 8:45 am] BILLING CODE 4312–53–M DEPARTMENT OF THE INTERIOR Fish and Wildlife Service [FWS–R8–R–2009–N222; 80230–1265–0000– S3] jlentini on DSKJ8SOYB1PROD with NOTICES Desert National Wildlife Refuge Complex, Clark, Lincoln, and Nye Counties, NV AGENCY: Fish and Wildlife Service, Interior. ACTION: Notice of availability: record of decision. SUMMARY: We, the U.S. Fish and Wildlife Service (Service), announce the VerDate Nov<24>2008 18:35 Jan 29, 2010 Jkt 220001 availability of the record of decision (ROD) for the final Comprehensive Conservation Plan/Environmental Impact Statement (CCP/EIS) for the Desert National Wildlife Refuge (NWR) Complex. We completed a thorough analysis of the environmental, social, and economic considerations and presented it in our final CCP/EIS, which we released to the public on August 19, 2009. The ROD documents our decision to adopt and implement the final CCP/ EIS Alternative C, for Ash Meadows, Desert, and Moapa Valley NWRs and Alternative D for Pahranagat NWR. DATES: The Regional Director, Pacific Southwest Region, U.S. Fish and Wildlife Service, signed the ROD on September 24, 2009. ADDRESSES: You may view or obtain copies of the ROD and Final CCP/EIS by any of the following methods: Agency Web site: Download a copy of the documents at http://www.fws.gov/ desertcomplex/ccp.htm. Electronic mail: fw8plancomments@fws.gov. Include ‘‘Desert NWRC ROD’’ in the subject line of the message. Mail: Mark Pelz, Chief, Refuge Conservation Planning, Pacific Southwest Region, U.S. Fish and Wildlife Service, 2800 Cottage Way, W– 1832, Sacramento, CA 95825–1846. In person viewing or pickup: Copies of the ROD may be viewed at the Desert National Wildlife Refuge Complex, 4701 North Torrey Pines, Las Vegas, NV 89130. FOR FURTHER INFORMATION CONTACT: Cynthia Martinez, Refuge Complex Manager, U.S. Fish and Wildlife Service, 4701 North Torrey Pines, Las Vegas, NV 89130, phone (702) 515–5450 or Mark Pelz, Chief, Refuge Planning, 2800 Cottage Way, W–1832, Sacramento, CA, 95825; (916) 414–6504 (phone); mark_pelz@fws.gov (e-mail). SUPPLEMENTARY INFORMATION: Introduction With this notice, we finalize the CCP process for the Desert NWR Complex (Ash Meadows, Desert, Moapa Valley and Pahranagat NWRs). The CCP will guide us in managing and administering the four wildlife refuges for the next 15 years. We started this process in a Federal Register notice (67 FR 54229, August 21, 2002). We released the draft CCP/EIS to the public, announcing and requesting comments in a notice of availability in the Federal Register (73 FR 39979) on July 11, 2008. The public review period lasted 60 days. We announced the availability of the final CCP/EIS in the Federal Register (74 FR 41928) on August 19, 2009. PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 Ash Meadows NWR was established in 1984 under the authority of the Endangered Species Act of 1973, as amended. It comprises 23,000 acres of spring-fed wetlands, mesquite bosques, and desert uplands that provide habitat for at least 24 plants and animal species found nowhere else in the world. The Wildlife Refuge is located 90 miles northwest of Las Vegas and 30 miles west of Pahrump. Desert NWR was originally established in 1936 by Executive Order No. 7373 and subsequently modified by Public Land Order 4079, for the protection, enhancement and maintenance of wildlife resources including bighorn sheep. Located just north of Las Vegas, Nevada, the 1.6 million acre Wildlife Refuge is the largest in the lower 48 States. The Moapa Valley NWR was established in 1979 under the authority of the Endangered Species Act of 1973, as amended, to secure habitat for the endangered Moapa dace. The Wildlife Refuge is located on 116 acres in northeastern Clark County. Due to its small size, fragile habitats, on-going habitat restoration work, and unsafe structures, the Wildlife Refuge is currently closed to the general public. The Pahranagat NWR was established in 1963, under the authority of the Migratory Bird Conservation Act, as amended, to protect habitat for migrating birds in the Pahranagat Valley. The 5,382 acre Wildlife Refuge consists of marshes, meadows, lakes, and upland desert habitat. It provides nesting, resting, and feeding areas for waterfowl, shorebirds, wading birds, and song birds including the endangered southwestern willow flycatcher. In accordance with National Environmental Policy Act (NEPA) (40 CFR 1506.6(b)) requirements, this notice announces the availability of the ROD for the final CCP/EIS for the Desert NWR Complex. We completed a thorough analysis of the environmental, social, and economic considerations in the final CCP/EIS. The ROD documents our selection of Alternative C, for Ash Meadows, Desert, and Moapa Valley NWRs and Alternative D for Pahranagat NWR. Background The National Wildlife Refuge System Improvement Act of 1997 (16 U.S.C. 668dd–668ee) (Improvement Act), which amended the National Wildlife Refuge System Administration Act of 1966, requires us to develop a CCP for each national wildlife refuge. The purpose for developing a CCP is to provide refuge managers with a 15-year E:\FR\FM\01FEN1.SGM 01FEN1

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[Federal Register Volume 75, Number 20 (Monday, February 1, 2010)]
[Notices]
[Pages 5113-5114]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-1864]


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DEPARTMENT OF THE INTERIOR

National Park Service


National Park Service Concession Contracts; Implementation of 
Alternative Valuation for Leasehold Surrender Interest in the Signal 
Mountain Lodge and Leeks Marina Proposed Concession Contract, Grand 
Teton National Park

AGENCY: National Park Service, Interior.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The National Park Service (NPS) is proposing, subject to 
consideration of public comments, to utilize an alternative formula for 
the valuation of leasehold surrender interest under its proposed 
concession contract GRTE003-11 for operation of the Signal Mountain 
Lodge and Leeks Marina at Grand Teton National Park (``new contract'').

DATES: Public comments will be accepted on or before March 3, 2010.

ADDRESSES: Send comments to Ms. Jo A. Pendry, Chief, Commercial 
Services Program, National Park Service, 1201 Eye Street, NW., 11th 
Floor, Washington, DC 20005 or via e-mail at jo_pendry@nps.gov or via 
fax at 202/371-2090.

FOR FURTHER INFORMATION CONTACT: Jo Pendry, Chief Commercial Services 
Program, 202-513-7156.

SUPPLEMENTARY INFORMATION: The standard formula for leasehold surrender 
interest (``LSI'') value for applicable improvements provided by a 
concessioner under a National Park Service concession contract as 
defined in 36 CFR part 51 (``standard formula'') is as follows:
    (1) The initial construction cost of the related capital 
improvement,
    (2) Adjusted by (increased or decreased) the same percentage 
increase or decrease as the percentage increase or decrease in the 
Consumer Price Index from the date the Director approves the 
substantial completion of the construction of the related capital 
improvement to the date of payment of the leasehold surrender interest 
value;
    (3) Less depreciation of the related capital improvement on the 
basis of its condition as of the date of termination or expiration of 
the applicable leasehold sulTender interest concession contract, or, if 
applicable, the date on which a concessioner ceases to utilize a 
related capital improvement (e.g., where the related capital 
improvement is taken out of service by the Director pursuant to the 
terms of a concession contract).
    However, Section 405(a)(4) of Public Law 105-391 authorizes the 
inclusion of alternative LSI value formulas in concession contracts 
(such as the new contract) estimated to have an LSI value in excess of 
$10 million. One acceptable alternative methodology identified in 
Public Law 105 391 calls for the depreciation of LSI value on the basis 
of Internal Revenue Code requirements as they existed in 1998.
    However, NPS is proposing an alternative LSI formula that avoids 
Internal Revenue Code complexities in LSI valuation. The proposed 
alternative formula has two components: One for initial LSI value (as 
of the commencement of the contract) and a second for new LSI value, 
e.g., that credited during the term of the contract, as described 
below:
    (1) Initial LSI Value. The reduction of the initial LSI value under 
the new contract on a monthly straight-line depreciation basis, 
applying a 40-year recovery period regardless of asset class. There is 
no adjustment of the initial LSI value as a result of the installation 
(including replacement) of fixtures in the related capital improvements 
during the term of the proposed contract; and
    (2) New LSI Value. The reduction of the leasehold surrender 
interest value in any new structures or major rehabilitations 
constructed during the term of the new contract to be based on 
straight-line depreciation and also apply a 40-year recovery period (on 
a monthly basis) with no asset class distinctions. The construction 
cost of new capital improvements will include the costs of installed 
fixtures. Any installation (or replacement) of fixtures after the 
initial construction would not alter the established LSI value in the 
improvements.
    In summary, the proposed alternative formula: (1) Depreciates all 
asset classes composing LSI value over a 40-year recovery period; and 
(2) Eliminates adjustments of the initial LSI value as a result of the 
installation (or replacement) of fixtures during the contract term.
    The NPS has determined, subject to consideration of public comment 
and after scrutiny of the financial and other circumstances involved in 
the proposed contract, that utilization of the proposed alternative 
formula, as compared to the Standard Formula set forth above, is 
necessary in order to: (1) Provide a fair return to the Government from 
the revenues of the proposed contract; and (2) Further competition for 
the proposed contract by providing a reasonable opportunity for the 
concessioner to make a profit under the new contract.
    The NPS has also taken into consideration the fact that the 
proposed alternative formula provides a recovery period (40 years) for 
LSI improvements, which exceeds that which would have been provided by 
the Internal Revenue Code in 1998. This is because the recovery period 
of the proposed alternative formula would apply to all LSI 
improvements, regardless of their Internal Revenue Code asset class and 
applicable recovery period.
    We consider that adoption of the proposed alternative formula will 
not impact the projected rate of return of the new concessioner under 
the terms of the new contract (as opposed to inclusion of the standard 
formula). This is because, in developing the minimum franchise fee to 
be included in the new contract,

[[Page 5114]]

we will assess the projected revenues and expense of the business 
activities we will authorize and estimate a fair return to the new 
concessioner taking into account applicable industry norms. As part of 
this assessment, we will calculate the cost to the new concessioner of 
acquiring the existing LSI (and any required new LSI improvements). The 
minimum franchise fee, accordingly, will reflect the financial 
consequences of the proposed alternative formula such that the 
estimated reasonable opportunity for profit to the new concessioner 
would be projected to be the same whether the new contract included the 
standard formula or the proposed alternative formula. The proposed 
alternative formula will not lower the projected returns to the new 
concessioner but will reduce the speculative nature of LSI value under 
the standard formula.
    Please note that, in the interest of time, the NPS may issue a 
prospectus for the new contract in the near future that incorporates 
the proposed alternative formula. If consideration of public comments 
in response to this notice causes us to alter the proposed alternative 
formula, we will amend the prospectus accordingly before the deadline 
for submission of proposals.
    Before including your address, phone number, e-mail address, or 
other identifying information in your comment, you should be aware that 
your entire comment--including your personal identifying information--
may be made publicly available at any time. While you can ask us in 
your comment to withhold your personal identifying information from 
public review, we cannot guarantee that we will be able to do so.

Daniel N. Wenk,
Deputy Director, Operations.
[FR Doc. 2010-1864 Filed 1-29-10; 8:45 am]
BILLING CODE 4312-53-M