Section 286-40-060. Development projects—Conversion to other uses.
Latest version.
(1) Without prior approval of the board, a facility developed with money granted by the board shall not be converted to a use other than that for which funds were originally approved.
(2) The board shall only approve such a conversion under conditions which assure that:
(a) All practical alternatives to the conversion have been evaluated and rejected on a sound basis; and
(b) A new development will serve as a replacement which:
(i) Is of at least equal fair market value and of reasonably equivalent recreation usefulness and location;
(ii) Will be administered by the same political jurisdiction as the converted development; and
(iii) Includes only elements eligible under the board's program from which funds were originally allocated.