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. (a) If a state or local agency requires a project proponent
to transfer property to mitigate any adverse impact upon natural
resources caused by permitting the development of a project or
facility, the agency may authorize a governmental entity, special
district, a nonprofit organization, a for-profit entity, a person, or
another entity to hold title to and manage that property.
(b) If a state or local agency, in the development of its own
project, is required to protect property to mitigate an adverse
impact upon natural resources, the agency may take any action that
the agency deems necessary in order to meet its mitigation
obligations, including, but not limited to, the following:
(1) Transfer the interest, or obligation to restore and enhance
property, to a governmental entity, special district, or nonprofit
organization that meets the requirements set forth in subdivision
(c).
(2) Provide funds to a governmental entity, nonprofit
organization, a special district, a for-profit entity, a person, or
other entity to acquire land or easements, or to implement a
restoration or enhancement project, that satisfies the agency's
mitigation obligations.
(3) Hold an endowment in an account administered by an elected
official provided that the state or local agency is protecting,
restoring, or enhancing its own property.
(c) A state or local agency shall exercise due diligence in
reviewing the qualifications of a governmental entity, special
district, or nonprofit organization to effectively manage and steward
land, water, or natural resources. The local agency may adopt
guidelines to assist it in that review process, which may include,
but are not limited to, the use of or reliance upon guidelines,
standards, or accreditation established by a qualified entity that
are in widespread state or national use.
(d) The state or local agency may require the governmental entity,
special district, or nonprofit organization to submit a report not
more than once every 12 months and for the number of years specified
in the mitigation agreement that details the stewardship and
condition of the property and any other requirements pursuant to the
mitigation agreement for the property.
(e) The recorded instrument that places the fee title or partial
interest in real property with a governmental entity, special
district, nonprofit organization, or for-profit entity, pursuant to
subdivision (a) or (b) shall include a provision that if the state or
local agency or its successor agency reasonably determines that the
property conveyed to meet the mitigation requirement is not being
held, monitored, or stewarded for conservation purposes in the manner
specified in that instrument or in the mitigation agreement, the
property shall revert to the state or local agency, or to another
public agency, governmental entity, special district, or nonprofit
organization pursuant to subdivision (c) and subject to approval by
the state or local agency. If a state or local agency determines that
a property must revert, it shall work with the parties to the
mitigation agreement, or other affected entities, to ensure that any
contracts, permits, funding, or other obligations and
responsibilities are met.