No. 29015: R850-140. Development Property

DAR File No.: 29015
Filed: 09/14/2006, 08:45
Received by: NL

NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

Section 53C-4-101 directs the agency to establish criteria by rule for the sale, exchange, lease, or other disposition or conveyance of trust lands, including procedures for determining fair market value of those lands. This rule allows Trust Lands Administration to designate certain of its lands in a special category in order to facilitate the development of those lands for optimum revenue generation.

Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

The agency has not received any written comments concerning this rule.

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

This rule allows Trust Lands Administration to designate certain of its lands in a special category in order to facilitate the development of those lands for optimum revenue generation. Under this rule, the agency has successfully initiated and completed complex business transactions on designated lands in a manner more reflective of a traditional business approach to land development than a governmental approach. The rule specifically exempts applications on designated lands from several other agency rules and serves to expedite the process of completing transactions. Because real estate transactions are time sensitive, discontinuation of this rule would inhibit a number of prospective transactions and limit their potential for revenue generation. Therefore, this rule should be continued.

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

School and Institutional Trust Lands
Administration
675 E 500 S
SALT LAKE CITY UT 84102-2818

Direct questions regarding this rule to:

Ric McBrier at the above address, by phone at 801-538-5170, by FAX at 801-328-9452, or by Internet E-mail at [e-mail]

Authorized by:

Kevin S. Carter, Director