A. The fair annual lease value may be determined by an appraisal or equivalent procedure performed by the Tribe utilizing the following data: improvement cost, replacement cost, earning capacity, sales and lease data of comparable sites or by similar methodology as approved by the Tribe and deemed to be in the best interest of the Tribe. An appraisal log reporting the methods of appraisal and value of the tribal trust land shall be attached to every lease.

B. Alternatively, the fair annual lease value may be determined by an appraisal performed by a licensed appraiser utilizing the Uniform Standards of Professional Appraisal Practice or commonly accepted method of appraisal. An appraisal log describing the method of appraisal and value of tribal trust land shall be attached to every lease. (Res. 2020-30)