Willamette Wildlife Fund Sample Clauses

Willamette Wildlife Fund. Beginning in FY 2011 and extending through FY 2025, BPA shall make available funding for approved new projects in the amounts identified below. BPA will provide the funding on a project-by-project basis, subject to the commitments and limitations of this Agreement. All new projects, whether sponsored by ODFW or another entity, will be funded through the Willamette Wildlife Fund. a. BPA will review each project and its constituent elements together—i.e., acquisition, planning, restoration, operation and maintenance, etc. Regardless of how BPA classifies its funding, the annual total available budget remains the sum of the commitments stated in section II.G.1 and II.G.2 and as adjusted in the manner allowed in section II.G.3. See Attachment 6. b. FY 2011-2013: $2.5 million per year. c. FY 2014-2025: $8 million per year. d. The Parties shall determine what portion of this funding for new projects to dedicate to stewardship during the project selection process, and ODFW shall deposit funds BPA provides for stewardship in a long term operations, maintenance, and protection account (“Stewardship Account”) that will become the property of ODFW and be managed and controlled by ODFW solely for the long term protection of the properties protected under this Agreement. i. ODFW shall hold the Stewardship Account in trust for wildlife and use the Stewardship Account, including the principal and all interest, investment, and other proceeds derived from investment of the principal, solely for long term operation, maintenance, and protection, activities that preserve or advance the conservation values of the properties purchased under this Agreement. ODFW shall develop a grant program using the Stewardship Account for this purpose, so that project proponents may implement this operation and maintenance. ii. ODFW shall not make any use or expenditure of these monies for any purpose other than those identified in section II.G.1.d.i above. To do so would violate this Agreement and provide justification and cause for BPA to cease making any further payments under this Agreement and demand return of all monies then in the Stewardship Account until ODFW reinstates all funds used in violation of this Agreement. iii. The Parties shall allow the Tribes noted in section I.E to opt out of the grant program developed to distribute monies from the Stewardship Account. If a Tribe opts out, the Parties will establish alternative up front stewardship funding from the Willamette Wildlife ...
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