15A NCAC 12K .0107. MATCHING REQUIREMENTS

(a)  The applicant shall match PARTF funds on a dollar-for-dollar basis.

(b)  The appraised value of land that will be donated to the applicant may be used to match the PARTF grant.

(c)  The donor of the land must be an individual or private organization.

(d)  If a landowner sells land to the applicant for less than the appraised value, the amount of the donation is the difference between the appraised value and the amount paid by the applicant.

(e)  The value of capital improvements that are located on the donated land and will be used for public recreation may be included in the value of the donation.

(f)  Land that is transferred to the applicant due to a statute or rule is not considered a donation.

(g)  The applicant must receive a grant and sign the grant agreement before taking title to donated land.

(h)  Rule .0106 of this Section, of the PARTF administrative rules titled “Grant Agreement” also applies to donated land used as matching funds.

 

History Note:        Authority G.S. 113‑44.15;

Temporary Adoption Eff. November 1, 1994, for a period of 180 days or until the permanent rule becomes effective, whichever is sooner;

Eff. April 1, 1995;

Amended Eff. August 1, 1998;

Temporary Amendment Eff December 9, 2002;

Amended Eff. April 1, 2003.