| (a) Delegation of Authority. The commission delegates power
and authority to the executive director to administer the Floating Cabin Buyback
Program.
(b) Permit Buyback Bid Application Period
(1) The department may open one or more permit buyback bid
offer application periods per permit year if available funds permit.
(2) The department shall establish during each application
period a deadline for receipt of all applications.
(c) Permit Buyback Application Requirements.
(1) The department shall consider all applications to the Floating
Cabin Buyback Program provided the applicants meet the following requirements:
(A) a completed Permit Buyback Application form furnished by
the department has been submitted to the department by the application deadline;
(B) the applicant is the owner of the permit submitted for
buyback; and
(C) the applicant has submitted to the department copies of
all supplemental information as required in this subsection.
(2) A completed Permit Buyback Application shall contain:
(A) the full name of the applicant(s) having ownership rights;
(B) the current address of the applicant's residence;
(C) the social security number of the applicant(s);
(D) the applicant's bid offer, in U.S. dollars.
(d) Established Maximum Value Criteria.
(1) The department may, each permit year, establish criteria
which will be used as appropriate to assign an Established Maximum Value to
each application.
(2) The department will assign an Established Maximum Value
to each application according to criteria provided in this section.
(3) The Established Maximum Value for each application will
be based on the following criteria:
(A) length, width, and height of floating cabin;
(B) amount of funds accumulated in the Floating Cabin Buyback
Fund;
(C) bid offers from previous application periods;
(D) established open market prices for permitted cabins; and
(E) other relevant factors.
(e) Application Ranking Procedures.
(1) Ranking values will be assigned to all applications based
on the greatest difference between the Established Maximum Value and the bid
offers which are less than the Established Maximum Value.
(2) The department will purchase permits beginning with the
highest ranking to the lowest.
(3) Equally ranked bid offers:
(A) If bid offers are equally ranked and one floating cabin
is larger in length, width, and height, the department will rank the larger
floating cabin ahead of the smaller;
(B) If bid offers are equally ranked and both floating cabins
are the same length and width, the department will rank according to the ascending
alphabetical order of the applicant's last name.
(C) The department may purchase permits whose offers fall within
10% of the Established Market Value and are greater than the Established Market
Value.
(f) Notification of Acceptance or Rejection of Application.
(1) Department will notify each applicant in writing within
45 days of receipt of application regarding acceptance or rejection of application
bid offer.
(2) Applicants whose bids are accepted must then notify the
department of their intent to accept or reject the offer from the department
within 15 days of the postmark of the notification letter sent by the department.
(3) The department may retain unsuccessful applications and
include them in the next application period.
(4) The unsuccessful applicant may withdraw, resubmit, or amend
an application for consideration during any future application periods.
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