Upon receipt of any application under section 323 (relating to cooperative agreements) or 541 (relating to authority to provide deterrent fences), the commission shall investigate the conditions prevailing on such property and adjacent territory. If the investigation discloses the need of protection from deer, elk or bear as would be provided by fencing, the commission may enter into a written agreement with the applicant for the erection of a deer, elk or bear deterrent fence of such height, design, materials and type of construction as the commission specifies.