Funds are disbursed pursuant to contractual agreements with the implementing agency or organization. Grantees or contractors must provide the Conservancy with a detailed scope of work, budget and schedule for the project prior to initiating any work. The Conservancy disburses grant funds for completed work upon approval of the Grantee’s request for disbursement and supporting documentation. Conservancy project managers approve payment of funds only after assuring that all requested expenses are for work that has been satisfactorily completed pursuant to the project scope of work and budget, and that the grantee or contractor is in compliance with all the terms and conditions of the grant agreement or contract. Funds may be disbursed as progress payments, billed monthly or upon completion of individual tasks, or upon completion of the entire project. The Conservancy withholds ten percent of all progress payments to be released only upon satisfactory completion of the project.

Grant funds disbursed for the acquisition of real property are deposited directly into an escrow established for the transaction upon Conservancy staff’s review and approval of all sale and title documents.

Prior to approving the final grant payment, Conservancy staff conduct a project completion audit. This process includes review and approval of the final work product, a site visit and inspection where appropriate, and a review of the contract and project files to assure that all required documentation is in place.

For projects involving construction, including environmental restoration and enhancement, the grantee must provide the Conservancy with an inspection report by a licensed architect or registered engineer or the grantee’s Public Works Director certifying completion of the project according to the approved work program, and with “as built” drawings or photographs of the completed project. The grantee must also agree to manage and maintain the improvements consistent with the purposes of the awarded grant funds for an appropriate period of time, generally not less than twenty years.

For projects consisting of the acquisition of fee title to real property, the grantee must record an Irrevocable Offer to Dedicate Title in Fee, deed restriction, or other legal instrument that serves to permanently dedicate the property for the acquisition purposes. Such instruments run with the land and are binding on the grantee’s successors in interest. These instruments also contain a provision that enables the Conservancy or its designee to assume title to the property should the grantee cease to exist or violate the conditions of the grant agreement. These instruments provide the Conservancy with the ability to ensure that the property continues to be used for the acquisition purposes in perpetuity.

For projects consisting of the acquisition of easements, the easement must contain provisions that serve to ensure that the property is permanently dedicated to the acquisition purposes and is managed and operated in a manner consistent with those purposes. The Conservancy also requires that the grantee monitor the real property at least once a year to ensure compliance with the conservation easement, and submit a monitoring report to the Conservancy. Provisions of the easement ensure that should the grantee cease to exist or violate the conditions of the grant agreement, the Conservancy or its designee have the ability to assume title to the easement.

No property interests, whether fee title or easements, acquired with bond funds may be used as security for debt or transferred to another owner without the prior approval of the Conservancy.