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Under the terms of a Memorandum of Agreement between and among the The United States of America, on behalf of the U.S. Environmental Protection Agency, The California Regional Water Quality Control Board, The Bay Foundation of Morro Bay, and the Local Policy Committee of the Morro Bay National Estuary Program, the Bay Foundation manages and administers funds dedicated to the Morro Bay National Estuary Program.

The Restoration and Enhancement fund is dedicated to implementation of the Morro Bay Comprehensive Conservation Management Plan.