OAR 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 covenant or easement, including:
(1) The purchase price and the purchase option fees associated with the working land conservation covenant or easement:
(a) The purchase price for easements 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.
(b) The purchase price for covenants shall be based on an assessment of fair market value using methodologies similar to those described in OAR 698-015-0070 (Use of Grant Funds) (1)(a);
(2) The interest on bridge loans needed to secure closure on the property prior to when funding will be available for distribution through the program;
(3) The staff costs incurred as part of the covenant or 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;
(7) The closing fees, including recording and title insurance costs;
(8) The cost of securing and maintaining the agriculture and conservation values associated with the property in accordance with the application or a conservation management plan approved by the Director; and
(9) Up to 50% match for the value of a stewardship fund, but program funds contributed to a stewardship fund may not exceed 5% of the total appraised value of the covenant or easement.

Source: Rule 698-015-0070 — Use of Grant Funds, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=698-015-0070.

Last Updated

Jun. 8, 2021

Rule 698-015-0070’s source at or​.us