Wisconsin Administrative Code › Department of Natural Resources › NR 1-99 - Fish, Game and Enforcement, Forestry and Recreation › Chapter NR 51 - Administration Of Stewardship Grants › Subchapter II - Nonprofit Conservation Organizations › Section NR 51.08 - Grant payments for acquisition projects

Current through June 24, 2024
The department may not approve grant payments to a sponsor
					 until the following conditions have been satisfied:
(1)The sponsor has submitted a claim
				  supported by appropriate evidence of cost. Accounting for all stewardship
				  grants shall be in accordance with generally accepted accounting principles and
				  practices. Financial records including documentation to support accounting
				  records shall be available for review by state officials for a period of 4
				  years after final payment.
(2)The
				  department has determined the fair market value of the property according to
				  department appraisal guidelines and s.
				  NR
				  51.006(2).
Note:
The department's appraisal guidelines
					 are available from the DNR, Bureau of Community Financial Assistance, Box 7921,
					 Madison, WI 53707.
(3)The
				  sponsor has submitted an environmental inspection or assessment report showing
				  the property contains no undesirable environmental conditions, potential
				  liabilities or hazards that are unacceptable to the department. Inspection and
				  assessment reports are subject to department review and approval. If a report
				  shows the property contains or may contain unacceptable environmental
				  conditions or liabilities, the department may reject the grant application or
				  require a more complete environmental assessment to determine the full extent
				  of the problem.
Note:
The department's environmental
					 inspection report form is available from the DNR, Bureau of Community
					 Assistance, Box 7921, Madison, WI 53707.
(4)
(a)
				  Except as provided in par. (b), a final title insurance policy insuring the
				  full fair market value of the property has been approved by the department and
				  the interests of the state under the grant contract have been declared in a
				  recorded instrument of conveyance.
(b) Upon the request of the sponsor, the
				  department may elect to pay out up to 100 percent of the grant award to a
				  non-interest bearing escrow account before conveyance of the property to the
				  sponsor if the department has approved the title commitment and if the escrow
				  holder has agreed to release the funds only under the following conditions:
1. The escrow holder has all necessary
				  additional funds for the purchase and sale of the subject property.
2. The escrow holder insures title to or
				  receives title insurance for the property subject only to exceptions contained
				  in the title commitment that has been approved by the department.
3. The escrow holder insures that a legal
				  instrument is recorded which vests title or a property interest in the sponsor
				  and references the interest of the state in the property under the terms of the
				  grant contract.
4. Escrow funds not
				  used within 45 days of department issuance shall be returned to the department
				  if the closing does not occur as scheduled unless the department approves an
				  extension.