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8 <br />Tasks for a Community tend Trust <br />1. Organizational development <br />• Incorporation of 501(c)3 organization <br />• Establish Board of Directors <br />1. Establish an ongoing process for identifying potential building sites <br />2. Once a site is found it must be optioned (requires funding) and <br />evaluated: <br />• Assess topography <br />• Address infrastructure issues: water and sewer availability; suitability for <br />septic <br />• Current zoning/determine possible uses <br />• Determine worth of property based on probable use (consult with possible <br />developers) <br />• Other due diligence tasks such as environmental assessment <br />4. If land looks viable: <br />• Make offer; negotiate with seller; execute option on behalf of Trust <br />• Hire professionals for appraisal and title search <br />• Secure funding commitments} to execute purchase <br />• Trust must have capacity to apply for funding <br />5. If land is purchased /donated: <br />• Hire attorney to handle closing, transfer title of the property to the land trust (if <br />property is donated) <br />• Pay for title insurance, legal fees and property taxes <br />• Obtain general liability insurance <br />• Have someone able to execute closing documents <br />6. While land is held: <br />• Pay taxes and insurance <br />• Take care of any necessary maintenance on the property <br />• Meet with potential developers of the property. Work with Board of Directors <br />to generate RFP for developing the land, then evaluate proposals, make <br />recommendation to Board and have agreement written by an attomey <br />detailing the nature of the contract~between the land trust and the developer. <br />