(a) The conservancy may provide grants and loans to state agencies, local public agencies, tribes, and nonprofit organizations to further the purposes of this division.
(b) An entity applying for a grant from the conservancy to acquire an interest in real property shall specify all of the following in the grant application:
(1) The intended use of the property.
(2) The manner in which the land will be managed.
(3) How the cost of ongoing operations, maintenance, and management will be provided, including an analysis of the maintaining entity’s financial capacity to support those ongoing costs.