Conn. Agencies Regs. § 22-26gg-30

Current through November 7, 2024
Section 22-26gg-30 - Agreement for the Joint Acquisition of Development Rights with Project Partner
(a) After the Commissioner's determination of the value of development rights for the project acreage, but prior to offering to purchase the development rights from an applicant, the Commissioner and each project partner, if any, shall enter into a written agreement. Such agreement shall specifically include, at a minimum, the following:
(1) Available USDA or other federal funding contribution for the project, if applicable;
(2) Maximum contribution for joint purchase of development rights to be provided by the state;
(3) Minimum contribution for joint purchase of development rights to be provided by each project partner through municipally sourced funding, and private contributions, as applicable;
(4) The proposed development rights ownership interest of each project partner, as applicable;
(5) The representative of each project partner authorized to negotiate with the Department and the applicant for purchase of development rights;
(6) A procedure for the adjustment of price based on an A-2 survey acreage adjustment; and
(7) The monitoring of the development rights deed restrictions by the Department and each project partner, as applicable.
(b) The agreement shall be signed by the Commissioner and each project partner's authorized signatory.

Conn. Agencies Regs. § 22-26gg-30

Effective 12/13/2023