La. Admin. Code tit. 43 § VII-311

Current through Register Vol. 50, No. 11, November 20, 2024

Section VII-311 - Determination of Compensation (Formerly LAC 43:I.861)

A. The secretary shall determine the compensation for any affected acreage to be acquired as follows.

1. If the department provides a time period of one year or more between issuance of a notice of acquisition pursuant to §313 and the effective date of acquisition, then compensation for the affected acreage to be acquired shall be equal to the fair market value of the affected acreage to be acquired as determined by the secretary in accordance with §309

2. If the department provides a time period of less than one year between issuance of a notice of acquisition pursuant to §313 and the effective date of acquisition, the compensation for the affected acreage to be acquired shall be equal to the fair market value of the affected acreage to be acquired as determined by the secretary in accordance with §309 plus the value of such non-removable marketable oysters on the affected acreage, if any, as determined by the department, based upon reasonably confirmable data. The determination of value shall take into account the number of sacks of marketable oysters per acre, suitable acreage, natural mortality, current market price, and harvest cost.

3. Data for estimation of the value of non-removable marketable oysters shall be determined from the written assessment derived from the oyster resource survey conducted in accordance with §307 The department may also take into consideration any reasonably confirmable data or information supplied timely by any person in accordance with §307

4. The appraiser and the department shall consider any reasonably confirmable data or other information supplied to the department by the leaseholder following the oyster resource survey conducted in accordance with §307 The department or the appraiser may disregard any information or data not submitted timely pursuant to §307

La. Admin. Code tit. 43, § VII-311

Repromulgated by the Office of the Governor, Coastal Protection and Restoration Authority LR 412612 (12/1/2015).

AUTHORITY NOTE: Promulgated in accordance with R.S. 49:213.1, et seq. and R.S. 56:432.1.