Agenda - 09-20-2022; 8-b - Acceptance of NC Agriculture Development and Farmland Preservation Trust Fund Grant

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19 2. The additional acres are parcels or areas within the original parcels under the same ownership as the original parcels, are in working lands use, and are within, adjacent, or contiguous to the original parcels. ii. If the variance is greater than 5% of the contracted acres and is less than the acres listed above, the grant funds for conservation easement purchase will be reduced proportionally based on the new acreage. f. The division of the funds used to purchase the agricultural easement from matching resources and Agency resources must be maintained, as noted in the grant contract budget. The Grantee may request the Agency for an exception to the division of funds if the Agency is the only entity providing easement funding. g. For the Standard Conservation Easement Appraisal Program, the Agency easement purchase shall not exceed 50% of the appraised easement value. If the Agency is the only grantor of funds used to secure the conservation easement recording, the Grantee may request in writing with sound reasoning for the Agency payment to exceed 50% of the appraised easement purchase value. h. For the Present-Use Value (PUV) Conservation Easement Program, the Agency easement purchase shall not exceed 75% of the easement value as determined by the Conservation Easement Value Payout formula. i. At no time shall the total payment of grant funding exceed the grant contract value. j. All Grantee payments must have receipts of expenditures to verify the use of funding per contracted purposes. k. The Agency shall make the payment within 60 days of any grant reimbursement request by the Grantee with approved documentation. 6. The Grantee will use the selected conservation easement purchase funding program: ® Standard Conservation Easement Appraisal Program: The Certified Development Rights Appraisal must be completed per the ADFPTF Conservation Easement Appraisal Requirements and Checklist based on the funding sources for the easement purchase. Final conservation easement values must be determined by a Certified Development Rights Appraisal dated within the contract period and dated less than 365 days prior to closing. Supplemental appraisals, updated opinion letters, or reaffirmation letters by the appraiser for the original appraisal are acceptable if a closing occurs 365 days after issuance of the Certified Development Rights Appraisal, provided the appraiser certifies the land value with an updated effective date of valuation.