Rhode Island Code of Regulations › Title 490 - Water Resources Board › Chapter 00 - N/A › Subchapter 00 - N/A › Part 7 - Water Quality Protection Charges › Section 490-RICR-00-00-7.7 - Requirements for Water Quality Protection Funds

Current through June 14, 2024
A. The
				 following requirements, in addition to any terms and conditions established by
				 the Bank, as may be applicable to each supplier through the proceedings
				 authorizing the issuance of bonds or through any supplier agreements related
				 thereto, are conditions for approval of each disbursement of funds to a
				 supplier from the Bank WQPC Fund and precedent to each expenditure made
				 pursuant to a supplier agreement:
1. The
				 supplier shall certify that they have completed and kept current a water
				 quality protection component consistent with and in compliance with the
				 requirements of R.I. Gen. Laws §§
											46-15.3-7 and  46-15.3-5.1, as
				 amended.
2. All expenditures
				 financed through the Bank WQPC Fund shall conform to all applicable
				 requirements of federal, state, and local laws, ordinances, rules and
				 regulations.
3. For acquisition of
				 land or rights in land, the supplier must submit the following required
				 documentation to the Board for approval:
a.
				 Supplier Time Schedule - Each supplier must submit an initial acquisition time
				 schedule to the Board, and the Bank. The schedule must set forth the proposed
				 acquisitions and the approximate period in which each acquisition will be
				 completed. The schedule shall be updated by the supplier from time to time as
				 said schedule changes or as may be requested by the Board or the
				 Bank.
b. Appraisal - A real
				 property appraisal, conducted by a real estate appraiser licensed by the state
				 in which the real property is located, which establishes the fair market value
				 for the land the supplier is seeking disbursement of funds for. The appraisal
				 must comply with the Uniform Standards of Professional Appraisal Practice, as
				 established by the Appraisal Standards Board of the Appraisal Foundation, and
				 the Uniform Appraisal Standards for Federal Land Acquisitions, if applicable.
				 The Board or its designee shall conduct a review of the appraisal and shall
				 notify the supplier of acceptance or rejection of the appraisal. Any rejection
				 shall clearly set forth the reasons for such rejection and the Board or its
				 designee shall be available to discuss any such appraisal with a
				 supplier.
c. Purchase and Sale
				 Contract - A fully executed purchase and sale contract by and between the
				 supplier and all sellers involved in an acquisition shall be submitted to the
				 Board. The purchase and sale contract shall contain warranties that certify
				 that the property is compliant with all federal, State and local environmental
				 requirements, which warranties shall survive the closing on the property. The
				 purchase and sale contract shall otherwise be in form and substance
				 satisfactory to the Board. A Certificate of Disclosure, identifying all
				 individuals and entities having a legal interest in the property must accompany
				 the purchase and sale contract.
d.
				 Survey - A Class I Survey performed by a registered land surveyor shall be
				 submitted to the Board. The survey shall show the property bounds of the
				 property to be acquired, identifying any deletions from the property,
				 easements, rights-of-way or encumbrances. The registered surveyor shall stamp
				 the survey. The survey must be conducted in conformance with the Procedural and
				 Technical Standards for the Practice of Land Surveyors in the state in which
				 the property is located. Three (3) survey copies will be submitted to the
				 Board.
(1) The survey map shall:
(AA) Have a traverse closure of 1:10,000
				 feet.
(BB) Provide sufficient
				 documentation to reproduce the survey.
(CC) Meet all requirements of the respective
				 city or town zoning ordinance and any applicable subdivision
				 regulations.
(DD) Be submitted in a
				 form suitable for recording in the land evidence records of the respective city
				 or town.
(i) The surveyor must also supply a
				 metes-and-bounds property description and a Surveyor's Report adequate in form
				 and substance for issuance of title insurance for the property.
e. Title
				 Insurance Commitment - A title insurance commitment from a title insurance
				 company providing for clear title to the supplier upon acquisition of the
				 property. The commitment shall set forth all encumbrances that do not have a
				 material effect upon the interest the supplier is acquiring.
f. Deed or Easement Documentation - The
				 proposed deed or conservation easement for the proposed acquisition. The deed
				 or easement must provide that the land being acquired shall be maintained in
				 perpetuity in a manner that protects the quality of raw water of the supplier's
				 water supply system. The deed or easement shall perpetually restrict the
				 property to ensure that the property is conserved for the purposes set forth
				 herein and shall permit a transfer of the property only to a successor in
				 function of the supplier.
g.
				 Supplier Resolution - A Certified Resolution or other similar authorizing
				 document of the governing board of the supplier authorizing the
				 acquisition.
h. Environmental Site
				 Assessment - In the sole discretion of the Board, the supplier may be required
				 to submit an environmental site assessment. The site assessment must meet the
				 guidelines set by the Rhode Island Society of Environmental Professionals or
				 the applicable state regulatory requirements if the property is not located in
				 Rhode Island. The Board shall approve or reject any documentation submitted
				 pursuant to this subsection within 30 days of submission.
4. For acquisition of land or rights in land
				 under §
											7.6(D)(2)     of this Part which are reimbursements, the Supplier
				 shall submit documentation to the Board sufficient to evidence the closing of
				 the acquisition of the land or rights in land by the Supplier.
5. For non-land acquisition projects, the
				 supplier must submit documentation acceptable to the board.