The consideration for a lease must

be at

least fair market rental value. Appraisal is merely a component of determining fair market value of the

leased

property and is not necessarily the dispositive factor in the determination. If the commission finds it to be in the public interest, the commission may waive the fair market value requirement for a lease to a public utility provider or an institution of higher education as defined by the , or for social, environmental, or economic mitigation purposes.

A proposed lessee of real property may contract and make payment directly with a TxDOT approved appraiser.

RES

may assist the requester with selection of the appraiser and should provide the requester with instructions to the appraiser to assure a valuation work product compatible with TxDOT requirements. The proposed lessee is responsible for the full appraisal cost.