New Mexico Administrative Code › Title 19 - NATURAL RESOURCES AND WILDLIFE › Chapter 2 - STATE TRUST LANDS PART 24 CULTURAL PROPERTIES PROTECTION › Part 22 - PLANNING AND DEVELOPMENT LEASES › Section 19.2.22.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
As used in 19.2.22 NMAC, the following terms have the meaning
				  set forth in this section. A planning and development lease may add detail to a
				  definition to accommodate lease specific issues.
A.
"Applicant"
means the person
				or entity first applying to nominate trust land for a planning and development
				lease.
B.
"Approval /
				approved"
means written approval and includes only that which has been
				expressly approved and nothing further which might be implied.
C.
"Assignment"
means any direct
				or indirect transfer or partial transfer of all of a lessee's interest in all
				or a part of a planning and development lease, including, but not limited to,
				any conditional transfer or transfer by operation of law, excluding
				subleases.
D.
"Base
				infrastructure"
means tangible improvements consisting of main
				distribution or arterial-level service lines, or the municipal or local
				equivalent, including at a minimum, all of the following: water, sanitary
				sewer, gas, electricity, telecommunications, and roadways or other
				transportation facilities.
E.
"Base value"
means the value that results from the base appraisal,
				as more specifically defined in Paragraph (1) of Subsection A of
				19.2.22.17
				NMAC below.
F.
"Collateral
				assignment" or "leasehold mortgage"
means the conditional assignment to
				a creditor as security for a debt of a lessee's personal property interest in a
				planning and development lease, infrastructure, governmental approvals, or
				improvement value credit.
G.
"Commissioner"
means the New Mexico commissioner of public lands.
				The commissioner is the executive officer of the state land office and may
				delegate to state land office staff the performance of duties required of the
				commissioner under this rule.
H.
"Disposition"
means a take-out sale, a take-out lease, or a
				take-out exchange of all or any portion of trust land subject to a planning and
				development lease.
I.
"Disposition parcel"
means the portion of the trust land under
				lease that is subject to disposition.
J.
"Government approvals"
means
				legal rights granted by governments or agencies that run with the leased land
				including but not limited to planning, zoning, water and sewer service
				agreements, development agreements, platting, archaeological clearances or
				mitigation, and such other rights as may be required for the further
				development, improvement or use of the trust land; any property, rights,
				approvals, or privileges obtained or developed for the benefit of, or made
				appurtenant to, trust land and any other rights, permits or privileges obtained
				or developed in connection with a lessee's use of the leased trust land
				including, but not limited to, development rights and approvals.
K.
"Governmental entity"
means
				the state of New Mexico, its agencies or political subdivisions, Indian tribes
				and pueblos, or federal government agencies other than the department of
				interior.
L.
"Infrastructure"
means any improvements approved through a
				governmental approval process and necessary to support or enhance future
				planned development of all or the relevant parts of the leased premises,
				including but not limited to utilities, erosion control structures and flood
				control structures, roadways, sanitary sewers, water wells, water reservoirs,
				and sanitary sewage treatment facilities.
M.
"Improvements
" means any item
				of tangible property secured, developed, placed, created or constructed on the
				leased premises including but not limited to buildings, structures,
				infrastructure, permanent equipment and fixtures, and water rights developed as
				appurtenant to the trust land and approved by the commissioner, including any
				associated and required land use approvals.
N.
"Improvement value (IV)
"
				means the increased value of the leased premises attributable to improvements
				as established by appraisal, as more specifically defined in Subsection C of
				19.2.22.17
				NMAC below.
O.
"Improvement
				value credit (IVC)"
means the lessee percentage multiplied by the
				improvement value.
P.
"Joint
				planning agreement"
means a written agreement or understanding entered
				between the commissioner and a local government designed to facilitate planned
				growth of trust lands for the greatest benefit to the trust and the local
				community.
Q.
"Leased
				premises"
means that portion of trust land which is subject to a
				planning and development lease.
R.
"Lessee"
means the party of record at the state land office, who
				leases trust land from the commissioner under a planning and development
				lease.
S.
"Lessee percentage
				(LP)"
means the percentage to be determined through negotiation or
				bidding, and incorporated into the lease, which sets the lessee's proportional
				share of IV.
T.
"Lessor"
means the commissioner acting by and through the state
				land office.
U.
"Natural
				appreciation (NA)"
means any increase in the value of the leased
				premises not attributable to improvements, as determined by appraisal or by a
				pre-negotiated annual adjustment factor, as more specifically defined in
				Paragraph (3) of Subsection A of
				19.2.22.17
				NMAC below.
V.
"Planning and
				development lease"
means a written lease of trust land issued under this
				part, 19.2.22 NMAC, designed to improve the value of trust land for future
				sale, lease, or exchange. The commissioner, in the commissioner's discretion,
				shall determine the development potential of trust land.
W.
"Qualified bidder"
means a
				prospective bidder that has satisfied both the qualification deposit and all
				other bidder qualifications as more specifically described in Subsections A and
				B of
				19.2.22.11
				NMAC.
X.
"Rent"
means
				the total of estimated rent payments, including all periodic rents with
				applicable rent adjustments, percentage rents, initial or periodic fees, or any
				other incentive payment due during the lease term, and any other payments
				identified as rent in a planning and development lease.
Y.
"Rent adjustment"
means a
				periodic increase of any rent amount.
Z.
"Schedule of fees"
means a
				list of fees that must be paid for performance of certain administrative
				functions. The schedule of fees shall be published on the state land office
				website and is subject to change at the discretion of the commissioner. Unless
				otherwise noted in the schedule of fees or in this rule, the fee shall be
				non-refundable.
AA.
"State
				land office"
means the New Mexico state land office.
BB.
"Sublease"
means a
				transaction or arrangement whereby a planning and development lessee transfers
				to another anything less than the full interest in the planning and development
				lease, including but not limited to the rights to use, possess, manage or
				control all or part of the leased premises.
CC.
"Subsequent value (SV)"
means the value that results from any subsequent appraisal, as more
				specifically defined in Paragraph (2) of Subsection A of
				19.2.22.17
				NMAC below.
DD.
"Take-out
				exchange
" means a relinquishment or a conditional relinquishment of all
				or a portion of the leased premises from the planning and development lease
				together with, and for the purpose of, an exchange of the same pursuant to
				19.2.21 NMAC.
EE.
"Take-out
				lease"
means a relinquishment or a conditional relinquishment of all or
				a portion of the leased premises from a planning and development lease together
				with, and for the purpose of, a business lease of the same pursuant to 19.2.9
				NMAC.
FF.
"Take-out
				sale
" means a relinquishment or a conditional relinquishment of all or a
				portion of the leased premises from a planning and development lease together
				with, and for the purpose of, a sale of the same pursuant to 19.2.14
				NMAC.
GG.
"Termination"
means the end of a planning and development lease whether
				by cancellation, relinquishment or the expiration of the lease term.
HH.
"Trust"
means the land trust
				established by the Enabling Act (Act of June 20, 1910, 36 Statutes at Large
				557, Chapter 310), and that trust's assets, which are administered through the
				state land office by the commissioner.
II.
"Trust land"
means all land
				owned by the trust.
JJ.
"Unapproved infrastructure and government approvals"
means
				infrastructure and governmental approvals that have not received the
				commissioner's approval.