The BLM will accept a bid only if it includes the minimum bid and at least 20 percent of the bonus bid; and the bidder is qualified to hold a lease. The minimum bid consists of:
- The administrative costs incurred by the BLM and other Federal agencies in preparing for and conducting the competitive offer, including required environmental reviews, and
- The amount determined by the authorized officer and disclosed in the notice of competitive offer. This amount will be based on known or potential values of the parcel. In setting this amount, the BLM will consider factors that include, but are not limited to, the acreage rent and megawatt capacity fee.
Bonus bid: The bonus bid consists of any dollar amount that a bidder wishes to bid in addition to the minimum bid.
For any unsuccessful bidder, as defined in 43 CFR 2809.15(a), the BLM will refund the bid.