New Hampshire Revised Statutes 227-M:8 – Program Administration; Eligible Applicants; Matching Funds
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I. The authority shall distribute funds to further the purposes of this chapter only to eligible applicants. Eligible applicants shall include:
(a) Municipalities or other political subdivisions of the state; and
(b) Publicly-supported nonprofit corporations exempt from federal income taxation under section 501(c) of the Internal Revenue Code.
II. Other parties wishing to participate in the program may partner with one or more eligible applicants. At the option of eligible applicants and with the approval of the board, state agencies may hold rights in resource assets acquired through the program by eligible applicants. The applicant must demonstrate the commitment of the owner of the assets to participate in the proposed action.
III. Financial assistance to eligible applicants shall be provided through grants and block grants (grants to another organization for re-granting) and loans. Up to 50 percent of financial assistance provided each year may be provided through loans. Principal and interest paid on such loans shall be deposited in the trust fund for the New Hampshire land and community heritage investment program established in N.H. Rev. Stat. § 227-M:7. Financial assistance may only be expended on eligible resources for the following purposes:
(a) Acquisition of real property in fee simple.
(b) Acquisition of easement interests in real property.
(c) Restoration or rehabilitation of buildings or structures which are publicly-owned, or which are owned by a qualified publicly-supported nonprofit corporation.
(d) Surveys, appraisals, title work, and other legal or ancillary work necessary to carry out acquisitions.
(e) Resource inventories and planning.
(f) Other professional services.
IV. The authority shall not fund more than 50 percent of the appraised market value of any resource asset acquisition or more than 50 percent of any other expense eligible for financial assistance under N.H. Rev. Stat. § 227-M:8, III(c)-(f).
V. All eligible applicants are required to provide a level of matching resources that is no less than 50 percent of the appraised market value for any resource asset acquisition and that is no less than 50 percent of any other expense for which financial assistance is sought under N.H. Rev. Stat. § 227-M:8, III(c)-(f). A minimum of
1/2 of the applicant’s minimum match requirement must be provided in cash to be used in the purchase or preservation of the resource asset. Nothing shall prevent the eligible applicant from using all cash to fulfill the match requirements of the program. The balance, if any, of the non-cash match requirement may be met through any combination of:
(a) In-kind services;
(b) The appraised market value of donated real property or interest in real property, provided such real property is located in the municipality or municipalities in which the applicant property is located;
(c) Expenses specified under N.H. Rev. Stat. § 227-M:8, III(c)-(f), incurred or to be incurred; or
(d) A one-time investment in a stewardship endowment fund established by the applicant for the resource asset.
VI. Qualifying matching funds from the applicant may include, but are not limited to, municipal appropriations, private donations, federal funds, and monies from a conservation fund established under N.H. Rev. Stat. § 36-A:5.
VII. Matching beyond the minimum shall be encouraged of all applicants. The board is authorized, for a particular project, to either reduce the applicant’s minimum match requirements under paragraph V or exceed the amount of financial assistance allowed under paragraph IV, but only by an affirmative vote of 9 voting members.
(a) Municipalities or other political subdivisions of the state; and
Terms Used In New Hampshire Revised Statutes 227-M:8
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Market value: means stumpage value as determined in the same manner as other property values for the purposes of taxation at the time the timber is cut. See New Hampshire Revised Statutes 227-G:2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(b) Publicly-supported nonprofit corporations exempt from federal income taxation under section 501(c) of the Internal Revenue Code.
II. Other parties wishing to participate in the program may partner with one or more eligible applicants. At the option of eligible applicants and with the approval of the board, state agencies may hold rights in resource assets acquired through the program by eligible applicants. The applicant must demonstrate the commitment of the owner of the assets to participate in the proposed action.
III. Financial assistance to eligible applicants shall be provided through grants and block grants (grants to another organization for re-granting) and loans. Up to 50 percent of financial assistance provided each year may be provided through loans. Principal and interest paid on such loans shall be deposited in the trust fund for the New Hampshire land and community heritage investment program established in N.H. Rev. Stat. § 227-M:7. Financial assistance may only be expended on eligible resources for the following purposes:
(a) Acquisition of real property in fee simple.
(b) Acquisition of easement interests in real property.
(c) Restoration or rehabilitation of buildings or structures which are publicly-owned, or which are owned by a qualified publicly-supported nonprofit corporation.
(d) Surveys, appraisals, title work, and other legal or ancillary work necessary to carry out acquisitions.
(e) Resource inventories and planning.
(f) Other professional services.
IV. The authority shall not fund more than 50 percent of the appraised market value of any resource asset acquisition or more than 50 percent of any other expense eligible for financial assistance under N.H. Rev. Stat. § 227-M:8, III(c)-(f).
V. All eligible applicants are required to provide a level of matching resources that is no less than 50 percent of the appraised market value for any resource asset acquisition and that is no less than 50 percent of any other expense for which financial assistance is sought under N.H. Rev. Stat. § 227-M:8, III(c)-(f). A minimum of
1/2 of the applicant’s minimum match requirement must be provided in cash to be used in the purchase or preservation of the resource asset. Nothing shall prevent the eligible applicant from using all cash to fulfill the match requirements of the program. The balance, if any, of the non-cash match requirement may be met through any combination of:
(a) In-kind services;
(b) The appraised market value of donated real property or interest in real property, provided such real property is located in the municipality or municipalities in which the applicant property is located;
(c) Expenses specified under N.H. Rev. Stat. § 227-M:8, III(c)-(f), incurred or to be incurred; or
(d) A one-time investment in a stewardship endowment fund established by the applicant for the resource asset.
VI. Qualifying matching funds from the applicant may include, but are not limited to, municipal appropriations, private donations, federal funds, and monies from a conservation fund established under N.H. Rev. Stat. § 36-A:5.
VII. Matching beyond the minimum shall be encouraged of all applicants. The board is authorized, for a particular project, to either reduce the applicant’s minimum match requirements under paragraph V or exceed the amount of financial assistance allowed under paragraph IV, but only by an affirmative vote of 9 voting members.