Colville Tribes expect to see $27.7M in Cobell buy-back offers

A sign on the Colville Reservation in Washington. Photo from Department of Transportation

The Land Buy-Back Program for Tribal Nations is coming to the Confederated Tribes of the Colville Reservation in Washington.

The tribe expects to see $27.7 million from the program, council member Billy Nicholson wrote in The Tribal Tribune. It would be up to individual landowners to accept any offers once they are made.

"All landowners are assured a minimum base payment of $75 on their property," Nicholson wrote. "Some of the highly fractionated interests have reached a $1 in value but they will receive a minimum of $75 for their highly fractionated interests."

The $3.4 billion Cobell settlement provided $1.9 billion for Indian landowners who want to sell their fractionated interests. DOI will pay "fair market value" as required by the Indian Land Consolidation Act.

Participation is entirely voluntary. Any land that is acquired will be returned to tribes.

Since offers went out in in late 2013, Indian landowners have accepted over $714 million for their fractionated interests, according to the buy-back program. The equivalent of nearly 1.5 million acres have been returned to tribes.

Get the Story:
NICHOLSON: M&B Chair discusses Cobell Buy Back (The Tribal Tribune 10/23)

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