EFFECTIVELY MANAGING NATURAL RESOURCES AND FUNDS FOR CURRENT AND FUTURE GENERATIONS
WYOMING OFFICE OF STATE LANDS AND INVESTMENTS
122 West 25th Street Cheyenne, WY 82002 Phone: 307.777.7331 Fax: 307.777.3524 slfmail@wyo.gov
MATTHEW H. MEAD Governor BRIDGET HILL Director
DETAILED ANALYSIS
Consideration for Disposal of State Trust Land
856.43± ACRES in NATRONA COUNTY, WY
Prepared on
Herschler Building, 3West
PROPOSAL 3
ANNUAL TAX LOAD 6
EASEMENTS, ACCESS, HAZARDS 7
SPECIAL USE LEASES 7
TEMPORARY USE PERMITS 7
FOREST PRODUCTS 8
THE PARCELS 8
PARCELS 8
ANTICIPATED APPRECIATION OF THE PARCELS AS REAL ESTATE ASSETS 10
TRUST LAND MANAGEMENT OBJECTIVES 11
CONCLUSION 12
NATRONA COUNTY, WYOMING
W.S. 36-9-101 through 36-9-120; Sale of State Lands.
Wyoming Board of Land Commissioners’ Rules and Regulations, Chapter 26, Section 4
Trust Land Management Objectives adopted by the Wyoming Board of Land Commissioners August 11, 2005.
PROPOSAL:
The Director of the Office of State Lands and Investments (OSLI) has determined the subject parcels of State
Trust Land may be suitable for disposal. The land was nominated by East Elkhorn Ranch, LLC on April 25,
2013. On April 26, 2013, the Director moved the parcels to the Category II Disposal List in accordance with
Wyoming Board of Land Commissioners’ Rules and Regulations (Board’s Rules).
The application letter is attached as Exhibit “A”.
SUBJECT PROPERTY DESCRIPTIONS:
The parcels are located in Natrona County, Wyoming, and are approximately two (2) miles southeast of the
City of Casper, and approximately three and one half (3.5) miles south of Interstate 25. Maps and photos are
attached as Exhibit “B”.
Herein described as Tract 1:
Section 36, - Township 33 North, Range 79 West, of the 6th P.M. All (640 acres)
Fund: CS- Common School.
Herein described as Tract 2:
Section 1, Lot 4, - Township 32 North, Range 79 West, of the 6th P.M. (32.56 acres)
Fund: CS- Common School
Section 2, Lot 1, Lot 2, SW4NE4 - Township 32 North, Range 79 West, of the 6th P.M.
(105.67 acres)
Herein described as Tract 3:
Section 30, Lot 1, Lot 2 - Township 33 North, Range 78 West, of the 6th P.M. (78.20 acres)
Fund: OM- Omnibus Fund
This total proposed disposal of State Trust Lands comprises: 856.43 acres±
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PROPERTY INFORMATION:
The subject properties were patented to the State of Wyoming by the Federal Government under the Act of
Admission of 1890.
Tract 1: Sec. 36, T.33N, R.79W was granted under the Act of Admission in 1890 via Federal Patent 49-73-
0054, issued 12/21/1972 (Book of Deeds 247 at Page 180).
Tract 2: Sec. 1 (Lot 4), Sec. 2 (Lots 1 and 2), and SW4NE4, T.32N, R.79W were granted under the Act of
Admission in 1890 via Federal Patent IL 9, issued 5/11/1908 (Book of Deeds 20 at Page 343).
Tract 3: Sec. 30 (Lots 1 and 2), T.33N, R 78W were granted under the Act of Admission in 1890 via Federal
Patent SS 16, issued 3/25/1898 (Book of Deeds 20 at Page 136).
The subject property encompasses two (2) non-contiguous parcels containing approximately 856.43± acres.
Tract 1 is a full section of land (640± acres). Tract 2 includes three (3) lots and an additional quarter-quarter
section for a total of 138.23± acres, which are contiguous to the southern boundary of Tract 1. Tract 3 includes
two (2) lots totaling 78.20± acres located one half (1/2) mile northeast of Tracts 1 and 2.
The major vegetative cover consists of native short grasses, shrubs, and forbs. There are scattered ponderosa
pine trees on the southern most extent of the property.
Existing rights held by the State of Wyoming are 100% of surface estate and 100% of mineral estate. The
proposed transaction will dispose of the surface estate only. The State of Wyoming will retain all mineral rights.
Maps and photos are attached as Exhibit “B”.
IMPROVEMENTS:
There are no structural improvements on the property. Land improvements consist of fencing, a separately
owned reservoir in Tract 2 (Easement 0297 as described below), and a stock well on Tract 3. The subject tracts
are partially fenced and cross-fenced. However, the fencing does not appear to follow property lines or
completely surround the properties.
Tract 1: No land improvements.
Tract 2: Fencing in Section 2 has an estimated contributory value of $250.00.
.
WATER RIGHTS:
A review of the records maintained by the Wyoming State Engineer's Office reflect water rights appurtenant to
specific State Trust Land parcels. Specific parcel water right information is available for public review at the
Wyoming State Engineer's Office or on the Wyoming State Engineer's Office website.
The East Fork of Elkhorn Creek flows on Tracts 1 and 2. A water supply pipeline traverses Tracts 1 and 2. The
pipeline conveys water diverted from the East Fork of Elkhorn Creek based on a 0.5 cfs territorial water right
(Territorial Appropriation, Proof 988, October 1884 priority) held by a third party. There is one (1) reservoir on
Tract 2. Tract 3 contains a stock well.
Tract 1: Permit P18509.0D. Corbett Ditch diversion for domestic and stock uses. Proof 21834 with an August,
1934 priority date held by the Estate of H R Lathrop.
Tract 1 and 2: Water Supply pipeline conveying 0.5cfs for stock uses. Proof 988 with an October, 1884
priority date held by East Elkhorn Ranch LLC.
Tract 2: Reservoir 5306R storage reservoir with a May, 1940 priority date held by East Elkhorn Ranch LLC.
Surface rights conveyed by Easement 0297 (described below).
Tract 3: Permit P94789.0W. Brown Rock Corral Well #7 for stock uses with a March, 1994 priority date held
by Diamond Ring Livestock Company (company dissolved in March, 2009; appurtenant surface estate is
currently owned by East Elkhorn Ranch LLC).
The subject property presently contains water, reservoir, and conveyance system rights held by third parties. No
water rights are to be conveyed in the proposed transaction. Surface ownership of this property is subject to
W.S. § 36-9-119: "Nothing in this act [Sale of State Lands] shall be construed so as to impair the rights of any
ditch company, or any person owning any ditch or ditches, on or passing through any of the lands included
herein."
All water rights or permits on these parcels should be verified by the successful bidder with the Wyoming State
Engineer’s Office for final verification of allowed use. Failure to exercise a water right, for five (5) years, when
water is available, may constitute grounds for forfeiture of said water right.
GRAZING AND AGRICULTURAL LEASES:
Tract 1:
The current Grazing and Agricultural Lease is issued to The Estate of Gibson S. Peterson (No. 1-7860) and is
set to expire on January 1, 2022. Lease No. 1-7860 consists of 640.00 acres and a rated carrying capacity of
one hundred fifty-one (151) Animal Unit Months (AUMs). Based on the AUM fee formula established by the
State Board of Land Commissioners (Board), the 2013 rental income was $724.80 ($4.80/AUM x 151 AUMs =
$724.80). See Exhibit "C" for lessee comments.
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Tract 2:
The current Grazing and Agricultural Lease is issued to The Estate of Gibson S. Peterson (No. 1-7230) and is
set to expire on January 1, 2018. Lease No. 1-7230 consists of 138.23 acres with a rated carrying capacity of
forty-three (43) Animal Unit Months (AUMs). Based on the AUM fee formula established by the Board, the
2013 rental income was $206.40 ($4.80/AUM x 43 AUMs = $206.40). See Exhibit "C" for lessee comments.
Tract 3:
The current Grazing and Agricultural Lease is issued to East Elkhorn Ranch, LLC (No. 1-8870) and is set to
expire on February 1, 2022. Lease No. 1-8870 consists of 78.20 acres with a rated carrying capacity of twenty-
five (25) Animal Unit Months (AUMs). Based on the AUM fee formula established by the Board, the 2013
rental income was $120.00 ($4.80/AUM x 25 AUMs = $120.00). Lessee is the nominating party.
These tracts will be sold subject to the existing Grazing and Agricultural Leases, these Leases shall be
assigned to the successful bidder after completion of the sale.
MINERAL RIGHTS/LEASES:
The State of Wyoming owns all mineral rights, and will retain all mineral rights upon surface disposal.
Tract 1: Oil and Gas lease number 12-00213, situated on Section 36, T.33N, R.79W is issued to Wes State
Lands. Primary term expires on June 2, 2017 or upon exhaustion of production in paying quantities. This lease
contains three (3) stipulations: #5 - Big game crucial winter range, #117 - Streams and lake buffer, and #136 -
Aquatic invasive species issue.
Tract 2: None.
Tract 3: None.
ANNUAL TAX LOAD:
The subject property is owned by the State of Wyoming, and is not currently subject to ad valorem taxation.
Upon disposal, the property will be assessed and taxed by Natrona County, and all taxes shall be the
responsibility of the winning bidder.
According to the Natrona County Assessor's Office, real estate is valued using a market value system and the
taxes are calculated based on nine and one-half percent (9.5%) of the assigned value of the property times
.06725. Therefore, if the property is valued at one million, six hundred and fifty thousand dollars
($1,650,000.00), the estimated annual ad valorem tax would be ten thousand, five hundred forty-one dollars and
forty-four cents ($10,541.44).
Estimated Tax $10,541.44 0.06725 mill levy
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Agricultural land may be valued by the County Assessor on a productivity basis rather than actual market price.
In that case, the taxes would be significantly less, but that decision is left to the County Assessor.
EASEMENTS, ACCESS, HAZARDS:
Tract 1:
Section 36, T.33N, R.79W (S2N2 of NE4SE4). Easement-00640 to Pacific Power and Light issued on
2/28/1957, occupying 2.56 rods. This tract contains a water pipeline for which there is no legal
conveyance, but is subject to W.S. § 36-9-119.
Tract 2:
Section 2, T.32N, R.79W (a portion of SW4 ofNE4). Easement-00297 to the Town of
Evansville, subsequently assigned to East Elkhorn Ranch LLC issued on 8/27/1941, occupying 9.884
acres. This tract contains a water pipeline for which there is no legal conveyance, but is subject to W.S.
§ 36-9-119.
No obvious hazardous materials or environmental concerns were noted during inspections of the property by the
appraiser. The land has not been developed, nor is there historical documented use for any use that would
knowingly subject the land to hazardous materials, or which would create environmental concerns.
SPECIAL USE LEASES: None.
TEMPORARY USE PERMITS: None.
FLOOD ZONE AND ZONING DESIGNATIONS:
Flood Zone: The subject tracts are located in an area with low flood risk.
Tracts 1 and 2: These parcels are currently zoned Mountain Residential - 1 (MR-1). The intent and purpose of
the MR-1 district is to establish and protect areas for low density residential and accessory agricultural uses.
The current best use as vacant land include agricultural and recreational uses as determined by the contracted
appraiser.
Tract 3: This parcel is currently zoned Urban Agriculture (UA). The intent and purpose of the UA district is to
provide for and protect properties of ten (10) acre lots and larger in the urbanized area, which are used for
agricultural and residential properties. The current best use as vacant land includes rural residential land as
determined by the contracted appraiser.
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According to the Casper Metropolitan Planning Organization's 2030 Long Range Transportation Plan, an
eastern "belt loop" arterial roadway is contemplated which appears to traverse this parcel. However, this is not a
near term priority (Casper Planning Office interview, 11/5/2013).
FOREST PRODUCTS: None. The Wyoming State Forestry Division evaluation is attached as part of
Exhibit "E."
WILDLIFE HABITAT AND WILDLIFE-ORIENTED RECREATIONAL
OPPORTUNITIES LOCATED ON THE PARCELS:
The Wyoming Game and Fish Department (the Department) evaluated the subject property in terms of wildlife
and wildlife habitat. The Department notes that both pronghorn and mule deer winter and year-long range lies
within the parcel being proposed for sale, but no crucial big game habitats would be affected by the sale. There
are no known sage grouse leks on the parcel, and it provides only marginal sage grouse habitat. Tract 2 contains
a one (1) acre wetland [reservoir as described in this report] and about 1,200 feet of intermittent stream. The
evaluation letter from the Department is attached as part of “Exhibit E.”
CULTURAL RESOURCES AND PUBLIC RECREATIONAL OPPORTUNITIES
LOCATED ON THE PARCELS:
The Department of State Parks and Cultural Resources (State Parks) evaluated the subject property in terms of
public recreation, cultural resources, and historical significance. State Parks also mentioned an abandoned
motorcycle track is located near the center of the section. OSLI records indicated the motor-cross track was
never sanctioned by the Office under a Special Use Lease or permit. The use of the land for motor-cross or off-
road vehicle use was in violation of the Rules and Regulations of the Board of Land Commissioners and long
standing policy of the Office. The motor-cross track is reportedly no longer being used by the public.
The rocky outcrop is reportedly used annually by a local archery club for a sanctioned competition. OSLI
records do not indicate that Temporary Use Permits have been issued for that type of organized recreational
activity. Other casual recreational uses have been reported on the subject property. The State Cultural Resource
Officer reports that a cultural resource survey has not been conducted and recommends that OSLI carry out
appropriate efforts necessary for identification of historic properties. The evaluation letters from State Parks are
attached as part of “Exhibit E.”
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APPRAISED VALUE:
Deborah A. Gillihan of Hilston Appraisals has completed an appraisal of the subject property per instructions
from OSLI. The effective date of the appraisal was June 10, 2013 for Tracts 1, 2 and 3. The appraiser was
instructed to estimate the current market value of the fee simple interest for the parcels, excluding mineral estate
and assuming legal public access.
OPINION OF VALUE: The Board will use the appraised values below, with the acreages granted by
Patent at the Act of Admission of 1890, to set the minimum bid when these parcels are sold at public
auction.
Based on the inspection, available market data and analyses, assumptions, limiting conditions, and the
certifications, the appraiser's estimated opinion of market value for the defined property rights with an effective
date of June 10, 2013 is:
OSLI has reviewed the appraisal and concurs with the methods used and estimated market values.
The appraisal, including the various subdivision development scenarios, comparable sales information, maps,
photographs and related information as well as the appraisal review completed by OSLI, are available upon
request.
INCOME GENERATING POTENTIAL:
Pursuant to Chapter 26 of the Board of Land Commissioners' Rules and Regulations, the Detailed Analysis shall
include an estimate of the income generating potential of the subject property:
Existing Annual Income by Tract
Tract 1 Grazing Lease No. 1-7860; 151 AUMs $724.80
Tract 2 Grazing Lease No. 1-7230; 43 AUMs $206.40
Tract 3 Grazing Lease No. 1-8870; 78.20 AUMs $120.00
Total $1,051.20
778.23 Acres of State Trust Land at $1798 per acre
$1,400,000
Tract 3
78.20 Acres of State Trust Land at $3196 per acre
$250,000
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Cumulative existing income for the three subject tracts is $1,051.20 annually.
Based on the State Treasurer's short term (three-year) projected yield, proceeds from disposal would generate
approximately $54,259 1 annually. Based on the long-term (ten years or more) projected yield, proceeds from
disposal would generate approximately $115,448 2 annually.
¹Common School Fund 3 year projected yield (realized gains and losses only) for FY06, FY07, and FY08 per the State Treasurer’s
Office.
²Common School Fund projected long term (10+ years) average total rate of return (realized and unrealized gains and losses) as
provided by the State Treasurer’s Office.
ANTICIPATED APPRECIATION OF THE PARCELS AS REAL ESTATE ASSETS
The subject property is typical of rural land with development possibility, which generates a medium to high
appreciation potential. The appreciation rate for transitional property in the path of future development is
largely influenced by the type and quality of development occurring in the proximity of the subject.
In the table below, OSLI staff compared a high and low estimate of appreciation plus earnings to an estimate of
investment return upon disposal. Property value appreciation was based on the USDA Agricultural Land Values
Summary Reports 1998-2012. Multiple factors can dramatically increase or decrease pasture values in any
given year, and these rates have varied from a high of +22.0% (2007) to a low of -26.9% (1999). The
appreciation estimates are based on a conservative analysis of trends, which resulted in an annual appreciation
rate with a low of 3.20% and a high of 6.30%.
Investment earnings were based on the Common School Fund projected long-term average total rate of return as
reported by the State Treasurer's Office. Ultimately, this comparison is based on highly fluctuating real estate
values and should not be viewed as an actual performance estimate. Appreciation and investment income
calculations are attached as Exhibit "F."
These rates are for relative earning potential only. Appreciated land value is inherently speculative and would
only be realized on a future sale.
10 Year Comparison of Appreciation and Income versus Earnings
Appraised Value
versus
7% Investment Earnings
Total $1,649,257 $621,135 $1,399,487 $1,595,081
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The sum of the current appraised value, estimated appreciation and income, or investment earnings for the
subject tracts is outlined in the table below.
Total Potential Returns
10 Year Hold (low) 10 Year Hold (high) 10 Year Disposal
Base Appraised Value, all tracts $1,649,257 $1,649,257
versus
$1,649,257
Total $2,270,392 $3,048,744 $3,244,338
TRUST LAND MANAGEMENT OBJECTIVES:
In 1997, Wyoming Session Laws Chapter 200, section 3(a)(i) the Wyoming Legislature declared that trust land
should remain a substantial component of the trust portfolio, managed under a total asset management policy,
and with a focus on protecting the corpus for multiple generations. Subsequently, the Board adopted criteria for
evaluation of land exchanges, sales, acquisitions, and long-term leases--collectively called Trust Land
Management Objectives (TLMO), on August 10, 2005. A proposal need not meet all objectives, but all
objectives are considered by the Board which has the sole discretion in determining how to best manage State
Trust Lands.
To better meet the beneficiaries short and/or long term needs
Improve the manageability of land assets
Meet a specific school and/or community need
A summary of key points considered in this transaction evaluation are outlined below:
Better meet the beneficiaries’ short and/or long term objectives:
An evaluation of growth patterns and long-range planning efforts in the Casper metropolitan area reveal a
hypothetical urban development scenario, which could significantly improve revenue-generating potential of
these tracts. However, the likelihood and timing of such an endeavor are subject to multiple risks and
uncertainties. Consequently, revenue generation of the subject properties should be viewed solely under current
income-generating activities which yield a collective $1,051.20 annually. Additional uses are limited by access
issues and availability of alternative land in the area.
As depicted in the preceding table, projected investment earnings from disposal of this parcel would outperform
appreciation and revenue estimates from current and contemplated uses. Proceeds from a sale, additionally,
would be deposited in the Common School Permanent Land Fund and shall be held on deposit until such time
as the Board wishes to invest the funds or purchase other lands. Therefore, an action on the subject parcels
would yield investment earnings until such time as a separate proposed acquisition could prove substantial
benefits based on TLMO beyond the subject properties' potential.
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Inaccessible trust land in-holdings have traditionally relied on the state lessees' stewardship and management
practices. However, through land consolidation efforts and interagency cooperative efforts, OSLI has
historically benefitted from the disposal of in-holdings and acquisition of larger, contiguous tracts such as the
nearby Duncan Ranch.
Through disposal of the subject tracts, the Board would have an opportunity to improve asset manageability
through the consolidation of state and private ownership patterns and the ability to acquire other consolidated
lands for the trust beneficiaries once an opportunity arises.
Meet a specific school and/or community need:
As outlined in the appraisal, available parcels to address community growth opportunities are ample in
Southeast Casper. Access limitations, surrounding ownership patterns, and preferred alternative sites minimize
the subject property's role in public recreation and use.
CONCLUSION:
It is the opinion of OSLI that disposal of the subject property will better meet the short and long term objectives
of the state's trust beneficiaries through optimized, sustainable revenue generation. Disposal may further offer
the opportunity to acquire other land assets, which would improve manageability and/or meet a specific school
or community need.
The subject property lacks public access, provides limited income, and has speculative appreciation value. It is
the opinion of OSLI that disposal of these tracts would provide the opportunity to acquire more manageable,
higher revenue producing land. Alternately, proceeds could be invested to generate a higher rate of return.
The sale proceeds could be used in accordance with W.S. 9-4-715(k) and the Board’s Rules, Chapter 26,
Section 3, to purchase land adjoining other State Trust Land, which would improve manageability. OSLI
resources can be more efficiently utilized in managing land with marketable amenities, legal access, and/or
multiple compatible uses rather than small isolated parcels with single or limited uses.
This Detailed Analysis will be distributed to the public in accordance with the Board’s Rules, and will be
available on OSLI’s website. It will also be available for public viewing at several locations in Natrona County,
including the County Library, County and City Clerk’s Office, and the County Commissioners ' Office.
A notification of sale will be published in a local and statewide newspaper. In addition, OSLI will market the
sale of the parcels to the real estate community, on OSLI’s website, and have information available for public
viewing at several locations in Natrona County, including the County Library.
As required in the Board’s Rules, a public hearing will be conducted in Natrona County. The date, time and
location of the public hearing will be advertised in the Casper Star-Tribune. It is the intent of OSLI to publicize
13
the sale of these parcels to attract potential buyers. OSLI will then follow the disposal procedures as required by
Wyoming Statute, Title 36, Chapter 9, and the Board’s Rules, Chapter 26, Section 4.
OSLI intends to auction the subject property as three (3) separate Tracts which are described in the appraisal.
The parcels will be sold subject to the current grazing and agricultural leases, water rights, mineral lease, and
easements. All interest in the mineral estate will be retained by the State of Wyoming.
14
LIST OF EXHIBITS:
“A” Cover Letter and Land Sale Application from East Elkhorn Ranch LLC
“B” Subject Property Map, Zoning Maps, and Transportation Planning Map
“C” Lessee Comment Forms
"F" Projected Appreciation and Earnings Calculations
BELCHE~~ Boo GAAUNLLP
April 25, 2013
Mr. Ryan Lance, Director Mr. Jason Crowder, Assistant Director Q ~ Office of State Lands & Investments 122 West 25th Street Herschler Building, 3W Cheyenne, WY 82002
Re: Substitute Application for Proposed State Land Sale, Natrona County
Dear Messrs. Lance and Crowder,
As follow up to our discussion on April 12111, and on behalf of my client, East Elkhorn Ranch, LLC, enclosed please find an application (the “Application”) to consider the sale of State Trust Land in Natrona County, Wyoming. The Application substitutes for and replaces that application filed by T Cross T Ranch, LLC in mid-January 2013.
Through the course of private business reorganization, ownership of the T Cross T Ranch, which adjoins the state parcels proposed for sale, has been transferred to another McMurry business entity, East Elkhorn Ranch, LLC. Accordingly, East Elkhorn Ranch, LLC is the proper Applicant for the proposed sale. East Elkhorn Ranch, LLC is a Wyoming registered business in good standing with the Secretary of State. Mr. Neil A. “Mick” McMurry is the Managing Partner.
The Application is completed and submitted on those forms updated by the Office of State Land & Investments (“OSLI”) on January 15, 2013. The Application proposes sale of the same parcels identified in the earlier application. However, the Application provides additional information with regard to the nature and scope of the East Elkhorn Ranch, LLC water storage and conveyance system rights which have long encumbered the bulk of the state land acreage proposed for sale. The Application further confirms East Elkhorn Ranch, LLC’s understanding that consideration of the Application is subject to the following conditions: (1) an independent appraisal must be conducted to determine value based on the “Highest and Best Use,” as guided by appraisal instructions to be provided by OSLI; (2) OSLI will select a certified Wyoming appraiser to prepare the appraisal; and (3) East Elkhorn Ranch must pay for the appraisal.
237 STORCY BC’ULEVARO, SUITE 110, CH~YENrw, WYoI~JFls 32009 PHONE (307) ‘126-4100 FAx (307) 426-4099
James R. Beicher Lynne J. Soomgaaiden (307) 426-4105 (307) 426-4104
Jirn@sbwyolaw.com Iynne©sbwyolaw,coiy {00104021.DOC }
Typewritten Text
Exhibit "A"
April 25, 2013 Substitute Application for Sale of State Trust Land Page 2
I understand that upon receipt of the Application the OSLI Internal Review Team will evaluate it and upon Director Lance’s recommendation, the Application will be moved from the Category I list to the Category II list and OSLI will prepare a Detailed Analysis, to include the appraisal.
As you are aware, this Application presents unusual circumstances with regard to East Elkhorn Ranch’s ability to provide a completed Surface Lessee Notification and Comment Form. Grazing Lease Nos. 1-7860 and 1-7230 are held by the Estate of Gibson S. Peterson (the “Estate”). Unsuccessful attempts were made prior to filing the original application to secure a Surface Lessee Notification and Comment Form from Mr. J.E. Viastos, executor of the Estate. The Nature Conservancy, which holds a conservation easement on the Peterson L-4 Ranch, is to inherit the L-4 Ranch and, presumably, the state grazing lease rights. I have confirmed with The Nature Conservancy, Wyoming Chapter, and the District Court Clerlc, Natrona County that the Estate remains in probate (Case No. 21978). No Estate assets have been distributed to The Nature Conservancy at this time. Mr. Vlastos is out of the office until May 1,2013. 1 have sent Mr. Viastos a copy of the Application together with a request that he complete and return the Surface Lessee Notification and Comment Form to me with any substantive comments or any publicly available information concerning the timing for settlement of the Estate. In the alternative, I have asked Mr Vlastos to identify whether there is another party authorized to complete the Surface Lessee otification and Comment Form at this time. I will provide you whatever additional information I can obtain as soon as possible. In light of these circumstances we respectfully request that you proceed to process the Application, understanding that any future sale may be subject to valid, existing grazing lease rights.
Please contact me directly if you have questions, need additional information, oi would like to discuss the Application further. We look forward to learning of your recommendation.
Sincerely, A
End.
cc: Mick McMurry Dick Bratton
WYOMING OFFICE OF STATE LANDS AND INVESTMENTS STATE LAND TRANSACTION APPLICATION
(SALE/ACQUISTION/EXCHANGE) CC [J~V
PLEASE READ THESE INSTRUCTIONS CAREFULLY The failure to fully complete the Application or provide all of the required information and
documentation may result in a significant delay In the Office of State Lands and Investments’ ability to consider the transaction.
1. Provide a written description of how, if completed, the proposed land transaction will satisfy one or more of the Trust Land Management Objectives.
2. Provide a map of all land involved in the transaction, including adjacent State Trust Lands and adjacent land owners. Click here to design your ma
3. Fill out the Trust Land Transaction Evaluation Form and include it with this application.
4. If the applicant is not the surface lessee, please include a Surface Lessee Notification and Comment Font. This form must be completed and signed by the surface lessee and submitted with the application.
5. If the applicant is a corporation or other legal entity, provide evidence that it is qualified to do business in Wyoming. (This information may be obtained from the Secretary of State)
6. Provide a list and estimated value of all lessee owned improvements including buildings, fences, wells, tanks, pipelines, etc. Show the location of the improvements on the map referenced in No. 2 above.
7. Provide any other information that you deem as relevant to the Office’s evaluation of the application.
After completing the Application, please return it, along with all required information and documentation, to:
Office of State Lands and Investments Trust Land Management DMsion
Herschler BuildIng 3W 122 West ZS~ Street
Cheyenne, WY 82002
APPLICATION TERMS AND CONDITIONS (Please read carefully before filing)
TRANSACTION COSTS BORNE BY THE APPLICANT or SUCCESSFUL BIDDER 1. Survey: If a survey is required, the applicant shall acquire a Wyoming Certified Survey at
their own expense. 2. Appraisal Fee: The applicant will be required to order and pay for the appraisal(s). 3. Advertising: The Office will arrange for all newspaper advertising and payment will be
collected from buyer at closing. 4. All fees incurred to close the transaction. 5. A $25.00 deed processing fee.
All land transactions must be in accordance with the Trust Land Management Objectives and land will be appraised for its highest and best use 2nd with flip 2tt11m1,tinn nf 6g2I .rracc All State Trust Land approved far sale shall be sold at public auction to the highest bidder.
APPUCATION PROCESS Each application is reviewed on a case by case basis by an Internal Review Team (IRT). Evaluation of the application includes, but is not limited to, an analysis of: income potential to the State Land Trust Beneficiaries, proposed use, Impact to adjacent state trust lands, access, and proximity to existing developments, parcel size, and local regulations.
If the Internal Review Team determines the transaction is in the best interest of the State Land Trust, and upon the recommendation of the Director, the Office of State Lands and Investments (Office) will prepare a Detailed Analysis including the appraised value of the property. Please note that proposed acquisitions, including those involved in an exchange, are held in confidence by the Office until the Board of Land Commissioners (Board) authorizes a resolution to continue with the transaction.
The Detailed Analysis will be made available for public comment for a minimum of 30 days for a proposed sale and 60 days for a proposed exchange or acquisition. During the public comment period a public hearing will be held in the county of the proposed transaction. After the comment period, and at the next appropriate Board Meeting, the proposal will be presented to the Board for consideration. If the Board approves the transaction, it shall be completed. If the transaction is a sale, the public auction date will be set and advertised for a minimum four (4) consecutive weeks. The sale will then be held in the county in which the property is located.
The time frame for processing each transaction will vary depending on the complexity of the proposal. Although most transactions are completed within 6 to 12 months, some transactions may take longer. Submission of this application does not guarantee the transaction will occur.
Last Update: Fanuary 15, 2013
APPLICANT DATA: The full legal name of the Appilcant or the business entity name on file with the Wyoming Secretory ofState, including a Certificate ofGood Standing, must be providedfor all business entities.
East Elkhom Ranch, LLC do Dick Bratton 307.234.0583Applicant Name: Phone:_____________________
Mailing Address: P.O. Box 2390; Casper, WY 82601 Email: dbrafton~mcmurry.net
ri ri 9≤7 This evaluation form is forL≤J STATE TRUST lAND U DEEDED LAND (Check one)
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Legal Description of Land: (Identify Aliquot, Section, Township, Range) ~ ~
) ‘ .S’2’ ft I ~— .fl 1 ‘/0 )~% A- C 9 ~9 — ?
T33N,R79W-Sectjon36: AJI(640acres) /tc). rtl. 7~ .,.~ — ‘-‘F—
T32N,R79W-Sectjoj, 1: Lot4(32.56acres) C’ ~ ‘PD.(Ø&S cs (~cc~) T32N, R79W - Section 2: Lot 1,2. SWNE (105.67 a~s) — ,fasevvt?r 7o..a _ç”sumnn&~ 9.IQ rn T33N, RT8W - Section 30: Lot 1,2(78.20 acres) — % Natrona County, Wyoming
(Attach additional pages if more space is required)
I hereby propose the parcel(s) described above be considered for the proposed transaction pursuant to the Rules and Regulations of the Board of Land Commissioners and Wyoming State Statutes. I acknowledge that submission of this application will initiate a process for the consideration of a land transaction on the surface estate only (unless otherwise agreed upon) and the Board of Land Commissioners and the Office of State Lands and Investments reserve the right to reject this application at any time prior to the execution of a Patent or Warranty Deed.
Signature: Date:_________________ Signature:________________________________ -- _Date:________________
Last Update: January 15, 2013
APPLICANT DATA: The full legal name of the Applicant or the business entity name on file with the Wyoming Secretary of State, including a Certificate of Good Standing, must be provided for all business entities.
East Elkhorn Ranch, LLC do Dick Bratton 307.234.0583 Applicant Name:____________________________________________
Mailing Address: P.O. Box 2390; Casper, WY 82601 Email: dbratton~mcmurry.net
This evaluation form is fOr~ STATE TRUST LAND DEEDED LAND (Check one)
Legal Description of Land: (Identify Aliquot, Section, Township, Range)
(Attach additional pages if more space is required)
I hereby propose the parcel(s) described above be considered for the proposed transaction pursuant to the Rules and Regulations of the Board of Land Commissioners and Wyoming State Statutes. I acknowledge that submission of this application will initiate a process for the consideration of a land transaction on the surface estate only (unless otherwise agreed upon) and the Board of Land Commissioners and the Office of State Lands and Investments reserve the right to reject this application at any time prior to the execution of a Patent or Warranty Deed.
Phone
T33N, R79W f Section 36: T32N, R79W Section 1: T32N, R79W a Section 2: T33N, R78W 1 Section 30: Natrona County, Wyoming
All (640 acres) Lot 4 (32.56 acres) Lot 1, 2, SWNE (105.67 acres) Lot 1, 2 (78.20 acres)
‘4
LEASE NO. 1-8870
Assignee & Address: EAST ELKUORN RANCH, LLC East Elkhorn Ranch, LLC c/a Richard 3. Bratton P.O. Box 2390 Casper, WY 82602 307-268-7117
Board Approved: April 11,2013
Terms of Lease: February 1,2012 to February 1, 2022
Annual Rental: $120.00
Breakdown: 78.20 Acres Grazing -25 AUMs
Addendum No. 1 to East Elkhorn Ranch, LLC Application for Sale of State Land
Trust Land Manaaement Objectives
Legal Description of State Trust Land: T33N, R79W - Section 36: All (640 acres) (common school fund) b’”
T32N, R79W - Section 1: Lot 4 (32.56 acres) (common school fund) L/~ flij4tttf %tacoç
T32N, R79W - Section 2: Lot 1, 2, SWNE (105.67 acres) (common schoo~,fund) Ivf~’_je~. T33N, R78W - Section 30: Lot 1, 2 (78.20 acres) (omnibus fund) ~ff~” Natrona County, Wyoming (collectively the “subject parcels”)
Applicant Name: East Elkhorn Ranch, LLC do Dick Bratton Mailing Address: P.O. Box 2390; Casper, WY 82601 Telephone: 307.234.0583 Email: dbratton@mcmurrv.net
1 Better meet the beneficiaries’ short and/or long-term objectives:
The subject parcels do not represent high amenity state lands, have no public recreational value, and the annual revenue generated from grazing leases in place ($989.88) is unexceptional. However, the State could realize optimum or even enhanced value for the subject parcels upon sale by establishing a minimum bid at an appraised value that assumes public access and any favorable development scenarios associated with the assumption of public access. Proceeds from public auction of the subject parcels at a minimum bid that reflects appraised highest and best use value could then either be (1) invested to realize significantly greater annual revenue than the land asset presently returns; or (2) used to acquire other land assets that have better amenities (base value), access and/or revenue generating potential. Either alternative would enhance trust value in the short- and long-term. Greater public benefits also could be obtained by leveraging the sales proceeds from the subject parcels toward the acquisition of more accessible trust land and/or land that reflects higher resource values (e.g., habitat, view shed) than the subject parcel.
2. Improve the manageability of the land asset:
As noted above, the subject parcels are relatively small and surrounded by private land. Sale of the subject parcels would provide an opportunity for the State to acquire lands that would enlarge and consolidate state ownership patterns and thereby improve manageability.
(00104067.DcJCx)
3. Meet a specific school and/or community need:
As noted above, the subject parcels are relatively small, surrounded by private land, and offer no public recreational access. Sale of the subject parcels would provide an opportunity for the State to acquire lands that would enhance public recreational access.
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Addendum No. 2 to East Elkhorn Ranch, LLC Application for Sale of State Land
Trust Land Transaction Evaluation
Legal Description of State Trust Land: T33N, R79W - Section 36: All (640 acres) (common school fund) T32N, R79W - Section 1: Lot 4 (32.56 acres) (common school fund) T32N, R79W - Section 2: Lot 1, 2, SWNE (105.67 acres) (common school fund) T33N, R78W - Section 30: Lot 1, 2 (78.20 acres) (omnibus fund) VQs-~.j P~ nD Natrona County, Wyoming (collectively the “subject parcels”)
Applicant Name: East Elkhorn Ranch, LLC do Dick Bratton Mailing Address: P.O. Box 2390; Casper, WY 82601 Telephone: 307.234.0583 Email: dbratton@mcmurry.net
1. If known, what is the purchase price or appraised value of the property? The subject parcels were obtained at admission to statehood and have been held in trust since that time for the benefit of the common school and omnibus funds. The current appraised value of the subject parcels for Highest and Best Use (defined by OLSI as “the reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value”) is unknown, but can be determined by a certified Wyoming appraiser.
2. How is the land currently used? The subject parcels currently are used for agricultural purposes. As explained more fully below in response to Question No. 21, for over 100 years, the subject parcels in T32N, R79W (Section 2) and T33N, R79W (Section 36) also have been used for water storage and conveyance for the benefit of the Town of Evansville and private lands.
3. What is the highest and best use of the parcel? It is East Elkhorn Ranch LLC’s opinion that because the subject parcels are surrounded by private, agricultural land and because East Elkhorn Ranch LLC intends to successfully bid on the land in order to enhance its agricultural operations and to facilitate its maintenance and improvement of its existing water storage and conveyance facilities located on the subject parcels, the highest and best use of the subject parcels is for agricultural and water utilization purposes. East Elkhorn Ranch LLC understands, however, that OSLI will appraise the land as though legal public access is available and will instruct the appraiser to value highest and best use accordingly.
4. DescrIbe the surrounding land (Industrial, commercial, residential, recreational, or agricultural). The subject parcels are surrounded by private land maintained as open prairie and/or used for agricultural purposes. The subject parcels are approximately 2 miles southeast of the City of Casper and approximately 3.5 miles south of 1-25.
5. Is the land currently leased and at what rate? All of the subject parcels are currently leased for grazing as follows:
Section 36, T33N, R79W (640 acres) is leased by the Gibson S. Peterson Estate (Lease No. 1-7860; 151 AIJMs; ExpiratIon 01/01/2022) at $4.52/AUM for a 2012 annual rental of $682.52.
SectIons 1 and 2, T32N, R79W (138.23 acres) is leased by the Gibson S. Peterson Estate (Lease No. 1-7230; 43 AUMs; ExpiratIon 01/01/2018) at $4.52/AUM for a 2012 annual rental of $194.36.
Section 30, T33N, R78W (78.20 acres) is leased by East Elkhom Ranch, LLC (Lease No. 1-8870; 25 AUMs; Expiration 01/01/2022) at $4.52/AUM for a 2012 annual rental of $113.00.
6. Describe the view shed (mountains, sagebrush, grassland). The view shed incorporates native prairie, Casper Mountain and the City of Casper.
7. Does the parcel have high potential for wind power development? The NREL Wyoming Wind Power Resource Estimate Map Indicates Class 4-7 wind resource in this vicinity; however, proximity to the City of Casper and to Casper Mountain likely would generate significant political/public opposition to wind development.
8. Does the parcel have merchantable Umber? The subject parcels have no merchantable timber.
9. Does the parcel have productive agricultural land? If yes, which commodity Is produced? The subject parcels have native forage and do not represent productive agricultural land.
10. Is there high potential to Increase productive capacity? How? There is no high potential for conversion of the subject parcels to cultivated land or to Increase their productive capacity.
11. Does the parcel have low administrative costs relative to other parcels? Because the subject parcels are isolated and have no public access, OSLI does not incur the high management or administrative costs typically assodated with publicly accessible state lands in proximity to a city or town. However, given the subject parcels’ proximity to the City of Casper, if the public were able to access those parcels the administrative costs could easily exceed the revenue returned to the trust from those parcels.
12. Is the parcel legally accessible or isolated? Identify public roads if applicable. The subject parcels are isolated and have no legal public access. There is no state or federally owned land adjacent to the subject parcels.
13. What is the nature and extent of existing infrastructure (roads, utilities, power, telephone, water or sewer avaIlability)? Except for the private water storage and conveyance system rights more specifically described below In response to Question No. 21, the only other existing infrastructure would be that associated with Easement No. 640: a 20’ wIde power line easement issued to Pacific Power & Light Co. on February 28, 1957, on the S2N2:NESE Section 36, T33N, R79W.
14. What kind of wildlife habitat exists on the parcel (i.e. winter range, sage-grouse leks, etc.)? There are no sage grouse leks on the subject parcels and the subject parcels are not located in a sage grouse core area. Any development of oil and gas Lease No. 12-00213 on Section 36, T33N, R79W is stipulated for the protection of big game crucial winter range and must indude a 300-foot buffer to protect streams and lakes. Small herds of antelope and deer are observed on the subject parcels.
15. Are threatened or endangered species on the parcel? There are no known threatened or endangered species on the subject parcel.
16. Are conservation easements or other encumbrances legally attached to the parcel or on surrounding land? The following rights/encumbrances are of record on the subject parcels:
Section 2, T32N, R79W: Easement No. 297: ReservoIr (SWNE 9.34 acres) issued to Town of Evansville
on August 27, 1941
Section 36, T33N, R79W: Easement No. 640: 20’ wide power line easement Issued to Pacific Power &
Light Co. on February 28, 1957
Oil and Gas Lease No. 12-00213 (Stips #5, 117 & 136): issued by over-the- counter application to Wes State Lands, 301 Thelma Drive #412, Casper, WY 82609, on June 2, 2012
There are no conservation easements on the subject parcels; however, as evidenced by the attached letter from Gibson S. Peterson to Mr. Charlie Roll, OSLI, the adjoining L-4 Ranch is subject to a conservation easement that prohibits new building and strictly controls grazing on adjoining private property.
17. Does the parcel have known cultural, archaeological or paleontological values? The subject parcels have no known cultural, archaeological or paleontological value.
18. Does the parcel have high recreational values with legal public access (fishing, hunting, ATV use)? The subject parcels have no legal public access and therefore no pubhc recreational value.
19. Does the parcel have known potential for future mineral development? The subject parcels have no known potential for future mineral development. An over-the- counter oil and gas lease was issued to Wes State Lands on June 2, 2012, covering all of Section 36, T33N, R79W. Prior oil and gas leases on the subject parcels have been terminated or expired for non-development.
20. Do county growth plans support or restrict future development of this parcel? Based on recent information obtained by OSLI, Natrona County anticipates no foreseeable growth or development involving the private lands that surround the subject parcels or the subject parcels.
21. What water resources are present on and/or adjudicated to this parcel (wells, reservoirs, streams, irrigation systems)? There are no known water rights adjudicated to the subject parcels; however, the East Fork of Elkhorn Creek flows through the subject parcels In SectIon 36, T33N, R79W and SectIons 1 and 2, T32N, R79W. The Town of Evansville constructed the Evansville Pipeline (noted as “aqueduct” on the attached maps) in the early 1900’s to supply water to Town residents. The water supply for the Evansville Pipeline is a 0.5 cfs territorial water right (Territorial Appropriation, Proof 988, with a priority October 1884) diverting from the East Fork of Elkhorn Creek. In November 1929, the Board of Control changed the right from irrigatIon use (Emery Ditch) to preferred use for municipal purposes for the Town of Evansville. At the same time, the Board of Control authorized a change in point of
diversion upstream to its current location in the NESW Section 2, T32N, R79W. In 1940, the Town permitted and constructed the Evansville Storage Reservoir (the “ReservoIr”) on state land, SWNE Section 2, T32N, R79W (Permit No. 5306 Res.; Easement No. 297), including Installation of an intake structure and a supplemental pipelIne downstream of the new point of diversion. The Reservoir diverts from East Elkhorn Creek with a May 21, 1940 priority.
The Town of Evansville discontinued municipal use of the Evansville Pipeline in 1979 when the Evansville Water Treatment Facility went into operation. However, the Evansville Pipeline continued to divert water from East Elkhorn Creek to supply stock water to ranchers and seasonal irrigation water to the Casper Country Club pursuant to water use agreements with the Town. In 2009, East Elkhorn Ranch, LLC’s predecessor purchased the territorial water rights, the Reservoir and the Evansville Pipeline, “together with all ditch and dItch rights, pipelines, conveyance systems and all other related appurtenant rights and easements” from the Town of Evansville. In November 2012, the Board of Control conditionally approved a petition for change of use from municipal to reservoir supply for the Territorial Appropriation dIverting from Elkhorn Creek through the Evansville Pipeline. East Elkhorn Ranch, LLC, desires to maintaIn and improve these water, reservoir, and conveyance system rights in order to provide adequate and consistent flow in the Elkhom Basin.
22. Other considerations: Ownership of the state land presently encumbered by the water, reservoir and conveyance system rIghts would facilItate East Elkhorn Ranch LLC’s ability to ensure the protection of its substantial investment in the water system and to continue to make improvements to that system.
Descriation and Estimated Value of East Elkhom Ranch LLC’s Water System Improvements onState Ijild
Though East Elkhom Ranch, LLC holds the grazing lease on only one of the subject parcels (Section 30, T33N, R78W (78.20 acres) - Lease No. 1-8870), In 2009, East Elkhom Ranch, LLC’s predecessor purchased territorial water rights, the Evansville Reservoir and the Evansville Pipeline, “together wi~~ all ditch and ditch rights, pipelines, conveyance systems and all other related appurt~k :nt rights and easements” from the Town of Evansville. As illustrated oh the accompLying maps, the Reservoir and a continuous, approximate 1.25 mile segment of the Evansville Pipeline are located on two of the four subject parcels:
T32N, R79W - Section 2: Lot 1, 2,SWNE (105.67 acres) (common school fund) T33N, R79W - Section 36: All (640 acres) (common school fund)
Development of this water system began in the early 1900’s. The estimated value of the Reservoir, Evansville Pipeline and improvements to the same since purchased in 2009 exceeds $200,000. Wyomipg law precludes any sale of state land from impairing the rights of any person owning any ditch on or passing through state lands. W.S. § 36-9-119.
S if yi g Office of the
Secretary of State S —
U United States of America, State of Wyoming
I, MAX MAXFIELQ, SECRETARY OF STATE of the STATE OF WYOMING, do hereby certify that according to the records of this office,
East Elkhorn Ranch, LLC isa
Limited Liability Company
formed or qualified under the laws of Wyoming did on November 13, 2012, comply with all applicable requirements of this office. Its period of duration is Perpetual. This entity has been assigned entity identification number 2012- 000632639.
This entity is in existence and in good standing in this office and has filed all annual reports and paid all annual license taxes to date, or is not yet required to file such annual reports; and has not filed Articles of Dissolution.
I have affixed hereto the Great Seal of the State of Wyoming and duly generated, executed, authenticated, issued, delivered and communicated this official certificate at Cheyenne, Wyoming on this 22nd day of April, 2013 at 11:28AM.
,‘~. : ~ P ~. Secretary of State
1100 108° 106° 104’
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NIL GIBSON S. PETERSON DIRECTOR
MUSEUM OF NATURAL HISTORY PEREGRINE FILMS
MEMBER ~ AMERICAN MUSEUM OF NATURAL HISTORY
AMERICAN ASSOCIATION OF MUSEUMS
CHEYENNE, WYOMING 82002—0600 ATTENTION: MR, CHARLIE ROLL
DEAR MR. ROLL:
As I SPOKE TO YOU ON THE PHONE ON NOVEMBER 23RD IN REFERENCE TO LETTER FROM MR, FORCE
DATED NOVEMBgR 19, 1991 • I AM WRITING TO YOU AND RETURNINC THE COMPLETED SUBLEASE FORM
AND CHECK IN THE AMOUNT OF $10.00.
IN 1989 MY WIFE AND I PURCHASED THE L—4 RANCH CONSISTING OF APPROXIMATELY 1872 ACRES
OVER WHICH WE PLACED A CONSERVATION EASEMENT. IT IS OUR INTENflON TO RESTORE THIS LAND
TO PRISTINE CONDITION AND TO CONSERVE IT FOR ALL TIME,
ATTACHED HEREWITH IS COPY OF A LETTER YOU MAY FIND INTERESTING. THE EASEMENT DOCUMENT
REPORT , WHICH IS VERY LENGTHY, IS HERE IN MY OFFICE. WE ALSO SPENT SEVERAL THOUSAND
DOLLARS IN APPRAISAL FEES AND HAVE A BULKY REPORT, COMPLETE WITH MAPS AND PHOTOS, HERE
ALSO. THIS EASEMENT REDUCED THE RESALE VALUE OF THE LAND BY OVER 60% AS IT CAN ONLY BE
USED AS RANCH LAND WITH NO NEW BUILDING AND GRAZING STRICTLY CONTROLLED, WE WELCOME
INSPECTIONS OF THE PROPERTY AT ANY TIME AND I WILL BE HAPPY TO PERMIT ACCESS TO ALL DOC—
UMENTS,
245 NORTH DURBIN
S INC I
ArrORNEYS April25, 2013
J.E. Vlastos Viastos & Drell, P.C. P.O. Box 10 Casper, WY 82602-0010
Re: Request for Surface Lessee Notification and Comment Form Estate of Gibson S. Peterson — State Grazing Lease Nos. 1-7860 and 1-7230
Dear Mr. Vlastos,
‘I represent East Elkhom Ranch, LLC, which is a successor to T Cross T Ranch, LLC. East Elkhom Ranch, LLC has submitted the attached application to the Office of State Lands & Investments, proposing the sale of the described state land parcels in Natrona County. Certain of the state land parcels are adjacent to the Peterson L-$ Ranch and are subject to the above- referenced leases presently held by the Estate of Gibson S. Peterson (the “Estate”). I understand that you are serving as Executor and Personal Representative for the Estate.
Any sale of state land would be subject to all valid, existing lease rights. Nevertheless, if an applicant for the sale of state land does not hold the grazing lease on a parcel(s) nominated for sale, the applicant must obtain a completed Surface Lessee Notification and Comment Form from the state grazing lessee and submit It with the application. Accordingly, I am writing to ask that you please complete and return the attached Surface Lessee Notification and Comment Form to me. Please include any substantive comments you would like to share in your capacity as Executor and Personal Representative, and/or any publicly available information concerning the timing for settlement of the Estate. In the alternative, please let me know if there Is another party authorized to complete the Surface Lessee Notification and Comment Form at this time.
If you have questions or would like to discuss this further, please don’t hesitate to contact me at (307) 4264104 (office), (307) 631-1070 (mobile), or lvnnecThsbwvo4aw.corn.
Boomgaarden & Boomgaarden LLP
end.
237 STOREY BOULEVARD, SUITE 110, CHEYENNE, WYOMING 82009 PHONE (307) 426-4100 FAX (307) 426-4099
James R. Beicher (307) 426-4105
jlm@sbwyolaw.com
Iynne@sbwyolaw.com {00104265.DOC }
RnisedJauoazy 15,2013
SURFACE LESSEE NOTIFICATION AND COMMENT FORM
Applicant Name: East Elkhorn Ranch, LLC do Dick Bratton Phone:307’234’°583 Mailing Address: P.O. Box 239D; Casper, WI’ 82601 Email: dbratton@manuny.net
Legal Description of State Trust Land: (Identify Aliguo~ Section, Township, Range)
T33N, R79W - Section 36: All (640 acres) T32N, R79W - Section 1: Lot 4 (32.56 acres) T32N, R79W- Section 2: Lot 1,2, SWNE (105.67 acres) Natrona County, Wyoming
SURFACE LESSEE INFORMATION: (Click here to link to on-line plat book)
Lease No.: 1-7860 and 1-7230
Name: Estate & Gibson S. Peterson Address: do i.E. Viastos, Executor
Viastos & Droll, P.C.; P.O. Box 10, Casper, WY 82602-0010
Phone No.: 307.235.6613
SURFACE LESSEE COMMENTS: (to be completed by surface lessee)
Lessee: Please execute this form and return it to the applicant at the address above. Use additional pages if more space is required. Your comments are important to the decision nt’ilcing process. Please also include any improvements you have placed on the land along with their value.
(Signature of Surface Lessee) (Date)
(Please type or print name)
ADDITIONAL INFORMATION AND INSTRUCTIONS:
I. The complated and ~cecuted Surface Lessee Notification and Comment Form must accompany the land transaction application when submitted to Office of State Lands and luvesiments for processing
2. It is the responsibility of the applicant to provide adequate information on the proposal so that the surface lessee can provide appropriate comments.
Disposal Proposal: East Elkhom Ranch LLC
~O330N 077 W
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032.0 078 W032 080 ON 079.0W
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OSLI Sur~ceOwiership0(11cc ol StaLe L3MdS m Inveslinools ~.fl~ r ~Ci’~≥rji~i SURFACE
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asper~ Casper Metropolitan Planning Area (MPA)
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1111 11111
Subject Parcels
RAM Figure 4. Current Zoning RAM • RANCHING. AGRJCULWRE AND MINING
UA URBAN AGRICULTURE
UR • URBAN RESIDENTiAL
SR • SUBURBAN RCSIBCNTIAL
Subject Parcels
M RAM
UA UA
RAM RANCHING. AGRICULTURE. AND MIMING 40 ACRES, AGRICULTURAL USES
UA URBAN AGRICULTURE. 10 ACRES, LIMITED AGRICULTURAL USES
MR I • MOUNTAIN RESIDENTIAL 1,10 ACRES, RESIDENTIAL USES
_________ MR.2 MOUNTAIN RESIDENTIAl ‘ 5 ACRES. RESIDENTIAL USES
CASPER kIOUNJAIN STUDY AREA
CASPER, WYOMING 82601
(30?) 235.6613
J.E. VLASTOS . Of Counsel MAILING ADDRESS: DAVID A. DRELL P0. BOX 10
CASPER, W~’OMING 82602 FACSIMILE (307) 235.6645
May 7, 2013
Comment Form
The undersigned, Joseph E. Viastos, Executor/Personal Representative of the Estate of Gibson S. Peterson, agrees with the comments of the Applicant with regard to the condition and status of the subject land.
,S~’eph E.Vlastos, WSB #4-0969 Executor/Personal Representative
dthree
SURFACE LESSEE NOTIFICATION AND COMMENT FORM
Applicant Name: East Elkhorn Ranch, LLC do Dick Bratton Mailing Address: P.O. Box 2390; Casper, WY 82601
Legal Description of State Trust Land: (Identi& Aliquot, Section, Township, Range)
SURFACE LESSEE INFORIW4TION; (Click here to link to on-line plat book)
Lease No.: 1-7860 and 1-7230
Name:
Address:
Estate of Gibson S. Peterson do J.E. Viastos, Executor Vlastos & Drell, P.C.; P.O. Box 10, Casper, WY 82602-0010
Phone No.: 307.235.6613
SURFACE LESSEE COMMENTS: (to be completed by surface Iessee’i
Lessee: Please execute this form and return it to the applicant at the address above. Use additional pages if more space is required. Your comments are important to the decision making process. Please also include any improvements you have placed on the land along with their value.
(Please type or priiit name)
ADDITIONAL INFORMATION AND INSTRUCTIONS:
7, 2013
1. The completed and executed Surface Lessee Notification and Comment Form must accompany the land transaction application when submitted to Office of State Lands and Investments for processing.
2. It is the responsibility of the applicant to provide adequate information on the proposal so that the surface lessee can provide appropriate comments.
Phone: 307.234.0583 Email: dbratton~mcmurry.net
T33N, R79W - Section 36: All (640 acres) T32N, R79W - Section 1: Lot 4 (32.56 acres) T32N, R79W- Section 2: Lot 1,2, SWNE (105.67 acres) Natrona County, Wyoming
ture of Surfa’ce Lessi seph E. Viastos, Executor!
Persnnp 1 RpnrpRnnf—p i~ I vp
(Date)
WYOMING OFFICE OF STATE LANDS AND INVESTMENTS
122 West 25th Street MATh-IEW H. MEAD Cheyenne, WY 82002 Governor Phone: 307.777.7331 Fax: 307.777.3524 RYAN M. LANCE s1fmail(~2xno.gov Director
May 10, 2013
FROM: Kyle Shook, Real Estate Transaction Specialist
RE: East Elkhorn Ranch, LLC (Formerly T. Cross T. Ranch, LLC) - Proposed Sale,
Section 36, - Township 33 N, Range 79 W, All (640 acres) Section 1, Lot 4 - Township 32 N, Range 79 W, (32.56 acres) Section 2, Lot 1, Lot 2, SW4NE4 - Township 32 N, Range 79W, (105.67 acres) Section 30, Lot 1, Lot 2- Township 33 N, Range 78W, (78.20 acres) All in Natrona County, Wyoming.
Factual Data:
Mick McMurry and Richard Bratton of East Elkhorn Ranch, LLC have proposed a land sale involving the lands described above and depicted on the accompanying map. This application proposal dated April24, 2013, substitutes and replaces the application filed by the T. Cross T. Ranch, LLC in mid January 2013.
This property is located near the City of Casper, in Natrona County, Wyoming. See the Attached maps for location.
The subject parcels have rio current legal public access and are located are located approximately 2 miles southeast of the City of Casper and approximately 3.5 miles South of lnterstate-25. The parcels have no merchantable timber resources.
Grazing Leases:
Section 36, T33N, R79W (640 acres) is leased by the Gibson S. Peterson Estate (Lease No. 1-7860; 151 AUMs; Expiration 01/01/2022) at $4.52/AUM for an annual rental of $682.52. Sections 1 and 2, T32N, R79W (138.23 acres) is leased by the Gibson S. Peterson Estate (Lease No. 1-7230; 43 AUMs; Expiration 01/01/2018) at $4.52/AUM for an annual rental of $194.36. The Gibson S. Peterson Estate is presently in probate and J.E. Vlastos is the executor of the estate. Lynne Boomgaarden of Belcher & Boomgaarden, LLP
EFFECTIVELYMAJS.TAGING NA TURAL RESOURCESAND FUNDS FOR CURRENTAJ’JD FUTURE GENERATIONS
dthree
Typewritten Text
Exhibit "D"
is presently contacting the Mr. Viastos to obtain the Surface Lessee NotificaLun and Comment Form for East Elkhorn Ranch, LLC.
Section 30, T33N, R78W (78.20 acres) is leased by East Elkhorn Ranch, LLC (Lease No. 1-8870; 25 AUMs; Expiration 01/01/2022) at $4.52/AUM for an annual rental of $120.00.
Subsurface Leases and Rights of Way
Wes State Lands hold an Oil and Gas lease (Lease No. 12-00213) covering all of Section 36, T33N, R79W and it was issued June 2, 2012. All subsurface leases for State Trust Lands located in Sections 1 and 2, T32 N, R79 W and Section 30, T33 N, R78 W appear expired. An easement was issued to the Town of Evansville (Now under the control of East Elkhorn Ranch, LLC.) for a water storage reservoir in the SW4NE4 of Section 2, Township 32 N, Range 79W, under Easement 297 (August 17, 1941- 9.34 acres). An easement was issued to Pacific Power & Light Company for a 20’ wide power line corridor located within the 52N2: NE4SE4 of Section 36, T33N, R79W (February 28, 1957- 2.56 acres). I
Water Rights and Water Resources:
There are no known water rights adjudicated to the State of Wyoming for subject Trust Land Parcels, however, the East Fork of Elkhorn Creek floJ~s through the lands in Section 36, - Township 33 N, Range 79 Wand through Sections 1 and 2, Township 32 N, Range 79 W and the Town of Evansville originally had the priority water rights to this water source (Qctober 1884 -Territorial Appropriation, Proof 988). Thef Town of Evansville was granted a water pipeline by the State Board of Control in 1926, that diverts and augments the flow from the East Fork of Elkhorn Creek across State Trust Lands to a reservoir also located on the subject State Trust Land in the SW4NE4 of Section 2,~Township 32 N, Range 79W, under Easement 297 (&iginally granted to the Town of Evansville, August 17; 1941- 9.34 acres).
The Water Rights for the East Fork Elkhorn Creek along with all ditch, pipelines, conveyance systems and appurtenant rights and easements were purchased by the predecessor of East Elkhorn Ranch, LLC. East Elkhorn Ranch, LLC desires to maintain and improve the reservoir, and water conveyance systems.
Trust Land Management Objectives Met:
The sale would meet the TLMO by divesting the State from a parcel encumbered with a reservoir and water conveyance systems owned by another party. Because of the growth potential and proximity of the City of Casper, this sale of this land can meet needs for future expansion. Because of City and County growth trends the proceeds from a public auction of the subject parcels could bring in a higher return than other isolated agricultural lands in the inventory.
If sold, the proceeds could be used in accordance with W.S. 9-4-701 (r) to purchase land adjoining other state- owned land thereby blocking up ownership and improving access, manageability, and income generating potential. Office resources can be more efficiently utilized in managing larger, consolidated blocks of land with high amenities, legal access, and multiple compatible uses as compared to small isolated parcels with single or limited uses, especially where these parcels are located near a city or town and create management issues.
Conditions:
Although presently there is no legal access to these parcels of State Trust Land, East Elkhorn Ranch, LLC has agreed to OSLI convention to appraise the property assuming legal access. It was recognized in the last Internal Review Team (IRT) meeting, that the development of Natrona County and City of Casper was advancing to the south and east of the present City limits. Also discussed at the IRT meeting was proposed new highway bypass which is in the initial planning stages and may influence even more growth in this area of Natrona County. There appears to be infrastructure readily available for future development with water lines
EFFECTIVELYAWSJAGIJ%,TG NA TURAL RESOURCES AJ’JD FUNDS FOR CURRENTAND FUTURE GENERATIONS
and power lines crossing the State Trust Lands. With this information in mind, the appraisal instructions should consider the potential for future residential and/or commercial development in determining value.
Recommendation:
The proposal was reviewed by the Internal Review Team on April 24, 2012 and the team recommends the above nominated parcel for sale be moved from the Category I List to the Category II List. If approved by the Director, the Office would proceed with the disposal process as outlined in the Chapter 26 Rules, including contacting other agencies for comment, preparing a detailed analysis conducting a public hearing if requested by the county commissioners, accepting public comment, and preparing a recommendation for Board consideration.
Director Action:
Date: ~
EFFECTJTE’L YMANAGJNG NA TURAL RESOURCES AND FUNDS FOR CURRENTAND FUTURE GENERATIONS
5500 Bishop Boulevard Cheyenne, WY 82002 Phone: (307) 777-7586 Fax: (307) 777-5986 Forestrv@wvo.gov
Wyoming State Forestry Division THE FOREST RESOURCE AGENCY OF I! TOilING
Governor
From: Bill Haagenson, Assistant State Forester — Forest Management
Re: Proposed Sale of State Trust Land
Section 36, T. 33 N., R. 79 W. (640 acres) Section 1, Lot 4, T. 32 N., R. 79W. (32.56 acres) Section 2, Lot 1, Lot 2, SW4NE4, T. 32 N., R. 79W. (105.67 acres) Section 30, Lot 1, Lot 2, T. 33 N., R. 78 W. (78.20 acres) Natrona County
Kyle,
U’ 4badtf°~
The Forestry Division has reviewed the parcels proposed for sale. There are no forest resources
Matthew H. Mead
on the parcels. We have no concerns with the potential sale.
dthree
5400 Bishop Blvd. Cheyenne, WY 82006 President
Phone: (307) 7774600 Fax: (307) 7774699 MARK ANSELMI
KEITH CULVERWg .wyo.gov T CARRIE LITtLE
CHARLES PRICE
August 19,2013
WER 13254 Office of State Lands and Investments Proposed Sale of State Trust Land Sale Section 36,-Township 33N, Range 79W All (640 acres) Section 1, Lot 4,-Township-32N, Range 79W, (32.56 acres) Section 2, Lot 1, Lot 2, SW4NE4-Township-32N, Range 79W, (105.67 acres) Section 30, Lot 1, Lot 2,-Township 33N, Range 78W (78.20 acres) Natrona County, Wyoming
Kyle Shook Real Estate Transaction Specialist Wyoming Office of State Lands and Investments 122 West 25th Street Cheyenne, WY 82002
Dear Mr. Shook:
The Wyoming Game and Fish Department has reviewed the proposed sale and determined that the sale will have minimal impact to fisheries or wildlife. The sale will have no impact to the hunting public since the land has no legal access. The only negative impact associated with the sale is the potential to increase damage claims to the Department, especially if center pivot irrigation systems are placed on the land. If there were opportunity to contractually limit damage claims to the Department as part of this transaction it would be beneficial.
Thank you for the opportunity to provide our comments.
If you have any questions please call our Land Administration Supervisor, Butch Parks, at 307- 777-4596.
Sincerely,
State Historic Preservation Office Barren Building, 3rd Floor
U 2301 Central AvenueCheyenne, WY 82002Wyoming State Parks & Cultural Resources Phone: (307) 777-7697
Fax: (307) 777-6421 http://~ioshpo.state.wy.us
May 31, 2013
Kyle J. Shook Real Estate Transaction Specialist Wyoming Office of State Lands and Investments 122 West 25th Street Cheyenne, WY 82002
re: Proposed Sale of State Trust Lands in Natrona County (SHPO File # 051 3RLC004)
Dear Mr. Shook.
Thank you for consulting with the Wyoming State Historic Preservation Office (SHPO) regarding the above referenced project.
A search of our records on May 31, 2013 indicates that the area has not been inventoried for cultural resources and that no cultural resources are known to exist within the proposed sale area. We encourage the Office of State Lands and Investments to require an investigation be conducted by a qualified cultural resources professional prior to sale of the properties. We understand this requirement is at the discretion of the State Land Board. A list of qualified consultants is available on our website.
Again, thank you for the opportunity to provide you with information prior to the sale of these lands. We appreciate your concern in regard to protecting these resources. Do not hesitate to contact us if you need any further information. Please refer to SHIN) project #0513RLC004 on any fixture coffespondence regarding this undertaking. If you have any questions, please contact me at 307-777-5497.
Sincerely,
Matthew H. Mead, Governor Milward Simpson, Director
APa”r~w. ~~7J(~ Field Support Team a Division of State Parks, HistoricH IS1iaRY. Sites & Trails
2301 Central AvenueWyoming State Parks & Cultural Resources Cheyenne, WY 82002
307-777-6323 307-777-6005 (fax)
May 28, 2013
Mr. Kyle J. Shook Real Estate Transaction Specialist Office of State Lands and Investments 122 West 25th Street Cheyenne, Wyoming 82002
RE: Proposed Sale of State Trust Land
Dear Mr. Shook:
I have reviewed the referenced letter and map and find no existence or importance of public recreational opportunities located on the lands proposed for sale. Therefore, the Division of State Parks, Historic Sites and Trails has no concerns with the Office of State Lands and Investments moving forward with the proposed sale of the referenced parcels.
Thank you for giving us the opportunity to comment. Please feel free to contact me should you have any questions or concerns.
Sincerely, 4
Tracy J. Wi ams Grant Spe st State Parks, Historic Sites and Trails 2301 Central Avenue, 4”~ Floor Barrett Bldg. Cheyenne, WY 82002
307-777-8681
AR~’rs. PAIIJ(S. Office of the Wyoming State Archaeologist
HI Department 3431, 1000 East University Ave.¾) Laramie, WY 82071 (307)721-0882 FAX (307)745-8732Wyoming State Parks & Cultural Resources
May 24, 2013
,Kyle J. Shook Real Estate Transaction Specialist Office of State Lands and Investments 122 West 25th Street Cheyenne, WY 82002
Re: Proposed sale of state trust land in Natrona County, WY. T33N, R79W, Section 36 all; T32N, R79W, Section 1, Lot 4; T32N, R79W, Section 2, Lot I, Lot 2, SW4NE4; T33N, R78W, Section 30, Lot 1, Lot 2.
Dear Mr. Shook:
Thank you for your request for input dated May 20, 2013 regarding the above listed land sale proposal located in Natrona County. Using the SHPO and State Archaeologist process for comments on OSLI auction lists, we have no recommendations for this transaction.
We understand that the standard stipulation in OSLI rules Chapter 18, Section 3h applies to any development on the minerals that the State retains. Thank you for the opportunity to comment.
If you have any questions or would like to meet, please feel free to contact Dr. Mark E. Miller, State Archaeologist at (307) 766-5564.
Sincerely,
Cc: Milward Simpson, Director, State Parks and Cultural Resources Sara Needles, Division Administrator, Cultural Resources Todd Thibodeau, Planning Coordinator, State Parks and Historic Sites Mary Hopkins, SHPO Steve Sutter, Cultural Resource Specialist
a Matthew H. Mead, Governor Milward Simpson, Director
Exhibit "F": Appreciation and Earnings Calculations
The following two tables from page 9, "Appreciation of the Parcels as Real Estate Assets."
10 Year Comparison of Appreciation and Income versus Earnings
Appraised Value
10 Year Hold (low) 1 10 Year Hold (high) 2
versus
7% Investment Earnings
Total $1,649,257 $621,135 $1,399,487 $1,595,081
Total Potential Returns
10 Year Hold (low) 10 Year Hold (high) 10 Year Disposal
Base Appraised Value, all tracts $1,649,257 $1,649,257
versus
$1,649,257
Total $2,270,392 $3,048,744 $3,244,338
The data and tables below illustrate methods and calculations used in determining the above values.
Appreciation Rate Determination
Appreciation rates are reported in the USDA National Agricultural Statistics Service, "Agricultural Land
Values, 1995-2013." The 20-year average appreciation for Wyoming is 4.04%.
Year Avg. $/Acre Appreciation
Year Avg. $/Acre Appreciation
Grazing and Agricultural Lease Income
Grazing and Agricultural Lease revenue is based on a rate per Animal Unit Month (AUM). Private land
lease rate on a per AUM basis, averaged for the five years preceding the current year, as estimated by
the Wyoming Agricultural Statistics Service; times the five year weighted average "parity ratio" for beef
cattle per cwt. as established by the National Agricultural Statistics Service as an adjustment for
changing resource conditions, market demand and industry viability; less 20% to reflect contributions
made by the lessee. Therefore, annual increase or decrease in revenue cannot be accurately estimated.
In this instance, current annual income is static for the ten year term.
Annual Income
Tract 3 $120.00 x10 $1,200.00
Total $1,051.20 $10,512.00
10 Year Appreciation
Appreciation Income Total
1 3.20% Compound Appreciation Estimate
Appraised Value Tract 1 $1,150,720.00 Tract 2 $248,537.00 Tract 3 $250,000.00
Appreciation Rate 3.20% 3.20% 3.20%
Year 1 1.032 $1,187,543.04 1.032 $256,490.18 1.032 $258,000.00
Year 2 1.032 $1,225,544.42 1.032 $264,697.87 1.032 $266,256.00
Year 3 1.032 $1,264,761.84 1.032 $273,168.20 1.032 $274,776.19
Year 4 1.032 $1,305,234.22 1.032 $281,909.58 1.032 $283,569.03
Year 5 1.032 $1,347,001.71 1.032 $290,930.69 1.032 $292,643.24
Year 6 1.032 $1,390,105.77 1.032 $300,240.47 1.032 $302,007.82
Year 7 1.032 $1,434,589.15 1.032 $309,848.17 1.032 $311,672.07
Year 8 1.032 $1,480,496.00 1.032 $319,763.31 1.032 $321,645.58
Year 9 1.032 $1,527,871.88 1.032 $329,995.74 1.032 $331,938.24
Year 10 1.032 $1,576,763.78 1.032 $340,555.60 1.032 $342,560.26
10 Year Base Value + Appreciation $1,576,763.78 $340,555.60 $342,560.26
10 Year Appreciation Only $426,043.78 4 $92,018.60
5 $92,560.26 6
2 6.30% Compound Appreciation Estimate
Appraised Value Tract 1 $1,150,720.00 Tract 2 $248,537.00 Tract 3 $250,000.00
Appreciation Rate 6.30% 6.30% 6.30%
Year 1 1.063 $1,223,215.36 1.063 $264,194.83 1.063 $265,750.00
Year 2 1.063 $1,300,277.93 1.063 $280,839.11 1.063 $282,492.25
Year 3 1.063 $1,382,195.44 1.063 $298,531.97 1.063 $300,289.26
Year 4 1.063 $1,469,273.75 1.063 $317,339.48 1.063 $319,207.49
Year 5 1.063 $1,561,838.00 1.063 $337,331.87 1.063 $339,317.56
Year 6 1.063 $1,660,233.79 1.063 $358,583.78 1.063 $360,694.56
Year 7 1.063 $1,764,828.52 1.063 $381,174.56 1.063 $383,418.32
Year 8 1.063 $1,876,012.72 1.063 $405,188.55 1.063 $407,573.67
Year 9 1.063 $1,994,201.52 1.063 $430,715.43 1.063 $433,250.82
Year 10 1.063 $2,119,836.21 1.063 $457,850.50 1.063 $460,545.62
10 Year Base Value + Appreciation $2,119,836.21 $457,850.50 $460,545.62
10 Year Appreciation Only $969,116.21 7 $209,313.50
8 $210,545.62 9
3 Investment Return Rate
Appraised Value Tract 1 $1,150,720.00 Tract 2 $248,537.00 Tract 3 $250,000.00
Compound Interest Rate 7.00% 7.00% 7.00%
Year 1 1.07 $1,231,270.40 1.07 $265,934.59 1.07 $267,500.00
Year 2 1.07 $1,317,459.33 1.07 $284,550.01 1.07 $286,225.00
Year 3 1.07 $1,409,681.48 1.07 $304,468.51 1.07 $306,260.75
Year 4 1.07 $1,508,359.18 1.07 $325,781.31 1.07 $327,699.00
Year 5 1.07 $1,613,944.33 1.07 $348,586.00 1.07 $350,637.93
Year 6 1.07 $1,726,920.43 1.07 $372,987.02 1.07 $375,182.59
Year 7 1.07 $1,847,804.86 1.07 $399,096.11 1.07 $401,445.37
Year 8 1.07 $1,977,151.20 1.07 $427,032.84 1.07 $429,546.54
Year 9 1.07 $2,115,551.78 1.07 $456,925.14 1.07 $459,614.80
Year 10 1.07 $2,263,640.41 1.07 $488,909.90 1.07 $491,787.84
10 Year Principal + Compound Interest $2,263,640.41 $488,909.90 $491,787.84
10 Year Compound Interest only $1,112,920.41 $240,372.90 $241,787.84
EFFECTIVELY MANAGING NATURAL RESOURCES AND FUNDS FOR CURRENT AND FUTURE GENERATIONS
WYOMING OFFICE OF STATE LANDS AND INVESTMENTS
122 West 25th Street Cheyenne, WY 82002 Phone: 307.777.7331 Fax: 307.777.3524 slfmail@wyo.gov
MATTHEW H. MEAD Governor BRIDGET HILL Director
ADDENDUM TO
DETAILED ANALYSIS
Consideration for Disposal of State Trust Land
856.43± ACRES in NATRONA COUNTY, WY
Prepared on
Herschler Building, 3West
Cheyenne, WY 82002
The language on page eight (8) under the heading” CULTURAL RESOURCES AND
PUBLIC RECREATION OPPORTUNITIES LOCATED ON THE PARCELS” reads:
“ State Parks also mentioned an abandoned motorcycle track is located near the center of the section. OSLI
records indicated the motor-cross track was never sanctioned by the Office under a Special Use Lease or permit.
The use of the land for motor-cross or off-road vehicle use was in violation of the Rules and Regulations of the
Board of Land Commissioners and long standing policy of the Office. The motor-cross track is reportedly no
longer being used by the public.”
And:
“The rocky outcrop is reportedly used annually by a local archery club for a sanctioned competition. OSLI
records do not indicate that Temporary Use Permits have been issued for that type of organized recreational
activity. Other casual recreational uses have been reported on the subject property.”
This Language is not related to the subject property and shall not be considered in the
Detailed Analysis of the Proposed Disposal of 856.43 Acres in Natrona County, WY.
The language on page eight (8) under the heading “CULTURAL RESOURCES AND
PUBLIC RECREATION OPPORTUNITIES LOCATED ON THE PARCELS” shall
read:
“The Department of State Parks and Cultural Resources (State Parks) evaluated the subject property in terms of
public recreation, cultural resources, and historical significance and have found no existence or importance of
public recreation opportunities located on the lands proposed for sale. The State Cultural Resource Officer
reports that a cultural resource survey has not been conducted and recommends that OSLI carry out appropriate
efforts necessary for identification of historic properties. The evaluation letters from Sate Parks are attached as
part of “Exhibit E.”
FINAL East Elkhorn Detailed Analysis
Table of Contents
Forest Products
Cultural Resources and Public Recreational Opportunities Located on the Parcels
Appraised Value
Trust Land Management Objectives
List of Exhibits
Exhibit "A" Cover Letter and Application from East Elkhorn Ranch LLC
Exhibit "B" Subject Property Map, Zoning Maps, and Transportation Planning Map
Exhibit "C" Lessee Comment Forms
Exhibit "D" Category II Recommendation Memorandum
Exhibit "E" State Agency Evaluation Letters
Exhibit "F" Projected Appreciation and Earnings Calculations
Addendum East Elkhorn Detailed Analysis