Minn. R. Part 8910.0300

Current through Register Vol. 48, No. 51, June 17, 2024

Part 8910.0300 - ELIGIBILITY

Subpart 1.Leaseholders with surface rights.

Only leaseholders with surface rights are eligible for relief under this chapter. Leaseholders with surface rights are those:

A. with property and facilities served by or formerly served by an industry side track that is owned by a railroad interest and that has lost rail service through abandonment; or

B. who have a leasehold from a railroad interest that is in bankruptcy proceedings.

Subp. 2.Leaseholders of record.

Right of first refusal accrues to leaseholders of record with the railroad interest at the time the parcel is offered for sale by the railroad interest.

Subp. 3.Fair market value.

The fair market value of a leasehold improvement, for purposes of eligibility under parts 9010.0100 to 9010.0400, is determined according to the latest available property tax assessment.

Subp. 4.Limitation.

Eligibility under this part is limited to leaseholds located on rail lines that have been abandoned on or after March 22, 1986, and leaseholds that are offered for sale by a railroad interest in bankruptcy, if the offer to sell was made on or after March 23, 1987.

Minn. R. Part 8910.0300

11 SR 1692

Statutory Authority: MS s 222.631 to 222.633