Land trust A applies to DEEP's OSWA program for funding to purchase title to property.
DEEP awards up to 65% of the property’s approved fair market value (FMV).
NRCS agrees to partner with Land Trust A and serve as the federal easement holder.
Concurrently, or after DEEP's award, landowner with whom Land Trust A is contracting applies through CLCC for NRCS funding, i.e., the agreement to purchase the federal easement is between NRCS and the landowner.
NRCS awards the landowner a percentage of the value of the easement (ranging from 50% - 100% depending upon the terms (standard deed terms).
At closing, landowner receives a combination of OSWA funds (for title) and NRCS funds (for federal easement).
Land Trust A is responsible for funding the balance of the purchase price. (Per CT statutes - combination of state and federal funds cannot exceed 90% of the purchase price.)
Title is conveyed to Land Trust A subject to an NRCS easement in favor of the federal government and an OSWA easement in favor of the state of Connecticut.
2. “Land Trust A” Seeks to Purchase Title to Property through OSWA and Seeks an Entity-Held (“Land Trust B”) Easement through the Federal Grant
Land Trust A applies to DEEP's OSWA program for funding to purchase title to property.
DEEP awards up to 65% of the property’s approved fair market value.
Land Trust B agrees to partner with Land Trust A and serve as the federal easement holder.
Concurrently, or after DEEP's award, Land Trust A and B apply through CLCC, for NRCS funding.
Landowner with whom Land Trust A is contracting works with CLCC and Land Trust B to apply for funding for federal easement.
NRCS awards Land Trust B a percentage of the value of the easement (ranging from 25% - 50% depending upon the terms (with or without U.S. right of enforcement).
The agreement to purchase the federal easement is between NRCS and Land Trust B.
The remainder of the easement value (50% - 75% depending on whether there is a U.S. right of enforcement) will come from a combination of private funds (e.g., land trust A fundraising), OSWA funds, and Landowner donation.
Land Trust A is responsible for funding the balance of the purchase price beyond the FMV of the easement that the landowner received. (Per CT statutes - combination of state and federal funds cannot exceed 90% of the purchase price.)
At closing, the landowner receives a combination of funds from Land Trust A, OSWA, and NRCS.
Title is conveyed to Land Trust A subject to a combined easement including OSWA and NRCS terms in favor of DEEP and Land Trust B.
3. “Land Trust A” Seeks to Purchase an Easement on Property through OSWA and Seeks an Entity-Held Easement through the Federal Grant
Land Trust A applies to DEEP's OSWA program for funding to purchase a conservation easement to protect the property.
DEEP awards up to 65% of the easement’s approved fair market value.
Concurrently, or after DEEP's award, landowner with whom Land Trust A is contracting works with CLCC and Land Trust A to apply for funding for federal easement.
Land Trust A applies through CLCC for NRCS funding.
NRCS awards Land Trust A a percentage of the value of the easement (ranging from 25% - 50% depending upon the terms (with or without U.S. right of enforcement).
The remainder of the easement value (50% - 75% depending on whether there is a U.S. right of enforcement) will come from a combination of private funds (e.g., land trust A fundraising), OSWA funds, and landowner donation. (Per CT statutes - combination of state and federal funds cannot exceed 90% of the purchase price.)
At closing, landowner receives a combination of funds from Land Trust A, OSWA, and NRCS funds.
Landowner retains title subject to a combined easement including OSWA and NRCS terms in favor of DEEP and Land Trust A.
