National Park Service Concession Contracts; Implementation of Alternative Valuation Formula for Leasehold Surrender Interest Under the Signal Mountain Lodge and Leek's Marina Proposed Concession Contract, Grand Teton National Park
The National Park Service (NPS), by notice in the Federal Register dated February 1, 2010, invited public comments on a proposed alternative formula for the valuation of leasehold surrender interest (LSI) to be included in its proposed concession contract GRTE003-11 for operation of the Signal Mountain Lodge and Leeks Marina at Grand Teton National Park (new contract). LSI, established in 1998 by the terms of Public Law 105-391 (1998 Act), is the compensable interest in applicable real property improvements on park area lands made by a concessioner pursuant to the terms of a NPS concession contract. Additional public comment was sought by a May 26, 2010, Federal Register notice. NPS, after consideration of the public comments received in response to both notices, has adopted a final LSI alternative for the new contract.