Fact csite-011
newrecordconfirmed Lease exits and bonds: Valar can walk away on 30 days' notice before building; reclamation and NRC bonds come later
Per the memorandum, before construction Valar may end the lease 'at its discretion by providing 30-days' written notice', and the trust keeps the $400,000 bonus and rent paid. After construction, Valar may still end it but must remove improvements, reclaim the land and pay two years' rent. Before any construction Valar must post a site restoration, reclamation and performance bond with Trust Lands, sized by an independent third-party cost estimate; the NRC would require decommissioning financial assurance, 'Normally' before operations. Bonus and rent paid in the first 15 years count toward any purchase price.
In plain termsThe deal protects the school trust's money: Valar pays up front and loses it if it walks away. Protection against a half-built or abandoned nuclear site comes from bonds that do not have to be posted until construction or operation. If the project stalls before then, there is little to clean up; if it stalls after, the bond amounts, not yet set, decide who pays.
- 09.17.2026 TLA Board Packet (Item 10A: SULA 2095-OBA Board of Trustees Memorandum, Carbon County letter, lease map) (Utah Trust Lands Administration (Utah Public Notice Website), 2026-09-17) primary government “Valar Atomics may terminate the lease at its discretion by”
- 09.17.2026 TLA Board Packet (Item 10A: SULA 2095-OBA Board of Trustees Memorandum, Carbon County letter, lease map) (Utah Trust Lands Administration (Utah Public Notice Website), 2026-09-17) primary government “Normally this is required before operations begin.”
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