Orange County NC Website
Browse       Search
20 <br /> ❑ Present-Use Value (PUV) Conservation Easement Program <br /> Select one of the following: <br /> ❑ Perpetual Conservation Easement: <br /> • 75% of the conservation easement value as determined by the Final <br /> Conservation Easement Value Payout formula in the PUV <br /> Conservation Easement Program Worksheet attached in this <br /> contract. <br /> ❑ 50-Year Term Conservation Easement: <br /> • 60% of the conservation easement value as determined by the Final <br /> Conservation Easement Value Payout formula in the PUV <br /> Conservation Easement Program Worksheet attached in this <br /> contract. <br /> 7. The conservation easement closing payment request may be submitted in writing using <br /> the Easement Closing Check Request form by the Grantee 30 days before the set closing <br /> date,provided the following items have been achieved: <br /> a. All closing documents (conservation easement, HUD statement, title <br /> commitment, and subordination agreement if required) have been reviewed and <br /> approved by ADFPTF and NCDA&CS legal staff. <br /> b. The Grantee is in "Green" status based on the ADFP Trust Fund Grantee <br /> Eligibility Classification system. This status requires all progress/budget reports, <br /> monitoring reports, audit reports, and other reporting documents to be current <br /> with the Agency. <br /> c. The Grantee has followed the contractually-obligated work schedule as detailed in <br /> the grant contract. If Grantee fails to maintain the contractual agreement between <br /> NCDA&CS and the Grantee,NCDA&CS ADFPTF shall consider additional <br /> measures to ensure Grantee follows department policies and contract procedures. <br /> d. The proposed conservation easement closing date shall be no less than 30 days <br /> before the contract end date. This timeline eliminates the risk of losing grant <br /> funds due to the contract's expiration. <br /> e. All involved parties, including ADFPTF, Grantee, landowners, and all funding <br /> partners with a financial interest in the conservation easement, will confirm the <br /> closing date. <br /> f. The closing check will be submitted to the closing attorney named in the grant <br /> contract, provided all required information provided by the Grantee is complete <br /> approved by ADFPTF and NCDA&CS legal staff. <br /> g. If a contract is at risk of not being completed,NCDA&CS may provide <br /> alternatives to reduce that risk, including revisions of the holdback provisions or <br /> the payment delivery options for services rendered by contractual arrangement. <br /> 8. The Grantee shall also submit a final grant report. In the final report, the Grantee shall <br /> provide all budget/progress reports, the final request for payment, and an accounting of <br /> the final match claimed by the Grantee to fulfill the match requirement mandated under <br /> pro cd 0,'0 C <br />