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Federal Land Management: Appraisal of Crown Butte Mines' New World Property

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Report Type Reports and Testimonies
Report Date May 29, 1998
Report No. RCED-98-209
Subject
Summary:

Congress set aside up to $65 million to acquire mining interests held by Crown Butte Mines, Inc., in an area near Yellowstone National Park. Before the acquisition can occur, however, four conditions must be met, including an appraisal of the property and a Comptroller General review of the appraisal within 30 days. The Crown Butte interests are located on land in the Gallatin National Forest, and the land will be managed by the Forest Service once it has been appraised and acquired. This report presents the results of GAO's review of the appraisal, which was arranged by the Forest Service. GAO (1) determines whether the appraisal complied with federal appraisal standards and how the value of the appraisal was derived and (2) assesses key assumptions used in the appraisal.

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