HAR §13-140-20. Matching funds

(a) Where the awardee of a land acquisition grant is a county agency or nonprofit land conservation organization, the board shall require additional matching funds of at least twenty-five per cent of the total project costs. Matching funds may be in the form of: (1) Direct moneys; (2) A combination of public and private funds; 140-10 (3) Land value donation; (4) In-kind contributions; or (5) Any combination of the above. (b) For land acquisition grants, matching funds costs shall be limited to the following: (1) Land or conservation easements at or below fair market value as determined by a department-approved appraisal; (2) Appraisals; (3) Land surveys; (4) Title insurance and title report; (5) Environmental inspections and assessments; (6) Escrow fees, excluding taxes; (7) Baseline documentation for conservation easements; and (8) Attorneys’ fees for the review and drafting of acquisition-related documents. (c) Qualifying entities shall supply evidence of the sources and expenditures of matching funds to the satisfaction of the department prior to distribution of the grant. (d) Matching fund expenditures must be reasonable and necessary for accomplishing project objectives and the purpose of the program. (e) Qualifying entities must demonstrate the basis and method for valuation of in-kind contributions. Donated services must be provided by skilled professionals. In-kind contributions must be an integral and necessary part of the approved project. (f) Lands being donated as matching funds shall be subject to the same requirements and restrictions as lands that are being acquired with grant funds. (g) In cases where the actual total project costs at time of grant disbursement are less than the estimated total project costs stated in the project application, the department shall require awardees to maintain the same proportion of matching funds to awarded funds that is set forth in the project application. [Eff 7/21/12] (Auth: HRS §173A-7) (Imp: HRS §§173A-5, 173A-9) 140-11