$40k doesn’t seem all that steep to me to have some awesome hunting for life. How much do the unit wide bull tags get sold for? $5-10k? How many do the landowners get per year? Seems like the roi would be solid.
Potentially could be, if you have $40k-$50k sitting around, and unknown amount of time to get the project complete and then Potentially close to a 1.5 years to see any return at all.
But..
Generally one tag, as a small contributing ranch (SCR), there is no guarantee of a draw also. Some places in NM an SCR may draw once every few years, others nearly every year. Some places the tag is worth $2k-$3k, other areas $6k to $10k is possible. If I'm using that tag to hunt, I'm not making that money either.
You also are risking doing this improvement for elk knowing as a landowner recieving a tag for doing your part, the program is being threatened. May not be for life....hopefully it is.
I hate the "rich" or "wealthy" land owner moniker...in NM, that's often very far from the case.
You very well could draw a cow too. So the return could be a long time (assuming selling the tag was your prerogative), or fairly reasonable depending on how lucky you are in the landowner draw over a number of year....in the right units.
The incentive program can produce extra tags, but only for three years. Yet another well thought out design.
If I put that water well in for $47k, I get a 3 year incentive if I enter the Habitat incentive program. But after 3 years, the elk still have the water, the landowner no longer has the bonus tag.