254.11—Exchanges at approximately equal value.
(a)
The authorized officer may exchange lands which are of approximately equal value upon a determination that:
(1)
The exchange is in the public interest and the consummation of the proposed exchange will be expedited;
(2)
The value of the lands to be conveyed out of Federal ownership is not more than $150,000 as based upon a statement of value prepared by a qualified appraiser and accepted by an authorized officer;
(3)
The Federal and non-Federal lands are substantially similar in location, acreage, use, and physical attributes; and
(b)
The authorized officer, not the non-Federal party, determines whether the Federal and non-Federal lands are approximately equal in value and must document how the determination was made.