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and environmental entities to purchase the Program Assets under the condition that the <br />Program Assets will continue to be managed to provide habitat for the target species. If <br />the purchased Program Asset is 1and, that land will be held by the Land Holding Entity or <br />a successor selected by the purchaser and?approved by the signatory committee as a <br />condition of the sale. The proceeds of the sale, after expenses, will be distributed to the <br />signatories in accordance with their respective Signatory's Share of the Program Assets. <br />4. If the Program Assets are not purchased in accordance with Sections III.A.2 or 3 <br />above, the signatory committee shall oversee the sale of such assets. Such sale may be <br />made without the condition that the Program Asset must be managed to provide habitat <br />for the target species. The proceeds of the sale, after expenses, will be distributed to the <br />signatories in accordance with their respective Signatory's Share of the Program Assets. <br />B. ESA Credits <br />In the event of Program dissolution, if a state agrees to and continues to carry out the <br />responsibilities it had under the Program, there is a presumption that such actions are <br />sufficient to provide ESA compliance with respect to all water related activities in that <br />state until any reinitiated cansultations have been completed. When a state agrees to and <br />continues to carry out the responsibilities it had under the Program, that state and any <br />water related activities covered also retain the right to argue that the responsibilities <br />undertaken are sufficient to constitute long term ESA compliance for the reinitiated <br />consultations. FWS agrees to consider these undertakings in any reinitiated Section 7 <br />consultations, including in the development of new reasonable and prudent alternatives or <br />other measures. <br />In addition, to the extent the states respective contributions of cash, water (through the <br />initial Program water projects), and land (Cottonwood Ranch and Deer Creek lands) will <br />continue to benefit the target species beyond the dissolution of the Program, the states <br />retain the right to argue that such future benefits resulting from their contributions should <br />be considered in any reinitiated consultations. The FWS will give due consideration to <br />these contributions and their resulting subsequent benefits to the target species and <br />habitat in any reinitiated consultations.