The Bureau of Indian Affairs recently announced that a Land Buy-Back Program has sent offers to landowners with interests at the Northern Cheyenne Indian Reservation.
The Buy-Back program is a component of the Cobell Settlement, which provided $1.9 billion to consolidate fractional interests in trust or restricted land within a 10-year period set to expire in November 2022, according to a Jan. 18 DOI press release.
"The Department is pleased to continue land consolidation work through the Land Buy-Back Program at the Northern Cheyenne Indian Reservation," Assistant Secretary – Indian Affairs Bryan Newland said, in the release. "Consolidating land enables Tribal governments to protect cultural and natural resources, develop housing, and plan for new or expanded community centers. Landowners are encouraged to contact the Trust Beneficiary Call Center to learn about their land and their options."
As part of the settlement agreement, a Trust and Land Consolidation Fund was created for the purposes of acquiring fractional interests in trust or restricted lands; (2) implementing the Land Consolidation Program; and (3) paying the costs related to the work of the Secretarial Commission on Trust Reform, including costs of consultants to the commission and audits recommended by the commission. Up to 15% of the Trust Land Consolidation Fund shall be used for purposes outlined above, according to the class action settlement agreement.
The Department of the Interior is required to offer fair market value to landowners of the fractionated land that the department is interested in, the agreement stated.
Sellers interested in selling have until March 4 to respond to offers from the Buy-Back Program.
The Buy-Back Program was originally allocated $1.9 billion by the land consolidation component of the Cobell Settlement. As of Jan. 7, there was $45 million still in the account.
The fund is set to expire in November.
