local park grant program - Texas Parks & Wildlife Department
local park grant program - Texas Parks & Wildlife Department
local park grant program - Texas Parks & Wildlife Department
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PRELIMINARY VALUATION LETTER<br />
All projects proposing the acquisition of land must submit a valuation letter from a real estate<br />
professional stating the approximate value of the subject property. The purpose of this requirement is<br />
to:<br />
• ensure that enough money is budgeted to acquire the property by purchase<br />
• ensure the amount of match available for property by acquired by donation, or bargain sale<br />
In either case, the cost estimates for property acquisition are very important. If property values are<br />
estimated below the budgeted amount and the land is to be donated, the sponsor will be required to<br />
supplement the match amount to offset the deficit. On the other hand, if the property is to be<br />
purchased and the appraised value turns out to be higher than the estimated value, the sponsor may<br />
not be reimbursed above that amount proposed in the application and approved in the <strong>grant</strong>.<br />
Refer to the Instructions for Approved Projects - Appraisal Instructions, available on our Website at<br />
http://www.tpwd.state.tx.us/business/<strong>grant</strong>s/trpa/, if the land to be acquired includes structures or<br />
improvements to ensure that the structures or improvements are properly valued.<br />
IT IS NOT NECESSARY TO PREPARE A FORMAL APPRAISAL TO APPLY FOR GRANT FUNDS.<br />
Formal appraisals will be required only if the <strong>grant</strong> is approved.<br />
WAIVER OF RETROACTIVITY<br />
For land which may be under eminent threat of loss as an acquisition opportunity, the <strong>Department</strong> may<br />
authorize such acquisitions to occur prior to <strong>grant</strong> approval through a waiver of retroactivity (see Waiver<br />
of Retroactivity Guidelines in Appendix C). In addition, land may be transferred to a non-profit holding<br />
organization until an application has been reviewed and approved.<br />
RETENTION AND USE<br />
Property acquired or developed with <strong>grant</strong> assistance shall be retained and used for public recreation.<br />
Any property acquired or developed shall not be converted to other than public recreation uses without<br />
<strong>Department</strong> approval. Such approval will be given only with the substitution of other properties of at least<br />
equal fair market value and equivalent usefulness, quality, and location. Contact Recreation Grants at<br />
512-389-8224 with any questions.<br />
PWD 1071 – P4000 (12/10)<br />
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