Or. Admin. Code § 698-015-0070 - Use of Grant Funds

Working Land Conservation Covenant and Easement Grant funds may be applied towards costs related to purchasing, implementing, holding, monitoring, stewarding, or enforcing the Working Land Conservation Covenant or Working Land Conservation Easement, including:

(1) The purchase price and the purchase option fees associated with the Working Land Conservation Covenant or Working Land Conservation Easement. The purchase price for a Working Land Conservation Covenant or Working Land Conservation Easement shall be based on an appraisal and review appraisal completed in accordance with applicable appraisal standards, including the Uniform Standards of Professional Appraisal Practice, and if required by other funding sources or the Internal Revenue Service, the Uniform Appraisal Standards for Federal Land Acquisitions.

(2) The interest on bridge loans needed to secure closure on the Working Land Conservation Covenant or Working Land Conservation Easement prior to when funding will be available for distribution through the program;

(3) The staff costs incurred as part of the Working Land Conservation Covenant or Working Land Conservation Easement acquisition process related to the property;

(4) The cost of due diligence activities, including appraisal, environmental site assessment, survey, title review, and other customary due diligence activities;

(5) The cost of baseline inventory preparation;

(6) The legal fees incurred by the grantee related to the proposed transaction;

(7) The closing fees, including recording and title insurance costs; and

(8) Up to 50% match for stewardship funding necessary for stewardship of the Working Land Conservation Covenant or Working Land Conservation Easement, but program funds contributed to a Stewardship Fund may not exceed 5% of the total appraised value of the Working Land Conservation Covenant or Working Land Conservation Easement.

Notes

Or. Admin. Code § 698-015-0070

OAHP 1-2019, adopt filed 01/28/2019, effective 2/1/2019; OAHP 1-2025, amend filed 01/31/2025, effective 1/31/2025

Statutory/Other Authority: ORS 541.984, ORS 541.988 & ORS 541.989

Statutes/Other Implemented: ORS 541.977-541.989