(1) The department must, prior to using the authority provided in RCW 79.155.040 to acquire land for inclusion in a community forest, obtain from the local community a commitment to preserving the land as a working forest.

(2) Following initial agreement between potential local community partners and the department regarding management and revenue production objectives for the lands in question, the local commitment to preserving the land as a working forest must be demonstrated by the county, city, or other local entity providing a financial contribution to the specific community forest of at least fifty percent of the difference between the parcel's appraised fair market value and the parcel's timber and forestland value. The local community contribution may be provided through any means deemed acceptable by the department and the local contributor, including:

(a) Traditional financing or bonding;

(b) The purchase of conservation easements; or

(c) The purchase or transfer of development rights.

(3) The local financial contribution must be deposited into the parkland trust revolving fund created in RCW 43.30.385 and used solely for acquisition of the community forest trust land parcel or parcels for which it is intended.