(3) Subject to the base minimum compensation established in OAR 141-145-0060(2), the method for calculating compensation due for an authorization issued under these rules shall be determined through the following formula. COMP = AV x LA x SDI
NOTE: Formula Explanation
AV= Appraised value or assessed value (as defined in OAR 141-145-0005(3) and (4) of these rules) whichever is less except as stated in OAR 141-145-0060(7). AV is expressed as a value per square foot.
LA= Authorized use area in square feet of state-owned submerged and submersible land.
SDI= Defined in OAR 141-145-0005(32). SDI is expressed as a percentage in this formula.
COMP= Compensation due to the Department for the authorization.
(a) For access authorizations, compensation due to the Department for the authorization will be a one-time payment determined by the formula COMP = AV x LA x SDI. (b) For easements, compensation due the Department for the authorization will be a one-time payment that is the lesser of: (A) [(AV x LA x SDI)/30] x number of years authorized; or (B) Flat rate method for a non-marine use (as described in Division 82) of $0.5301 per square foot (which will be increased each year on July 1st by three percent) x LA x number of years authorized. (c) For conservation easements, compensation due the Department for the authorization will be a one-time payment equal to AV x LA x 50%. (d) For lease authorizations, annual lease payment calculation is the lesser of the: (A) AV x LA x SDI x 5%; or (B) Flat rate method for a non-marine use (as described in Division 82) of $0.5301 per square foot (which will be increased each year on July 1st by three percent) x LA