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]
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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 https://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
]]>Agencies
[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]
-----------------------------------------------------------------------
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
