When requesting a noncompetitive lease, you must meet the initial payment (acquisition fee) requirements of this section, unless specified otherwise in your lease instrument. No initial payment is required when requesting noncompetitive ROW grants and RUE grants.
Terms Used In 30 CFR 585.502
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(a) If you request a noncompetitive lease, you must submit an acquisition fee of $0.25 per acre, unless otherwise set by the Director, as provided in §585.500.
(b) If BOEM determines there is no competitive interest, we will then:
(1) Retain your acquisition fee if we issue you a lease; or
(2) Refund your acquisition fee, without interest, if we do not issue your requested lease.
(c) If we determine that there is a competitive interest in an area you requested, then we will proceed with a competitive lease sale process provided for in subpart B of this part, and we will:
(1) Apply your acquisition fee to the required deposit for your bid amount if you submit a bid;
(2) Apply your acquisition fee to your bonus bid if you acquire the lease; or
(3) Retain your acquisition fee if you do not bid for or acquire the lease.