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<br />WS – Item 6 <br />WORK SESSION STAFF REPORT <br />Work Session Item No. 6 <br /> <br /> <br />Date: August 7, 2017 <br /> <br />To: City Council <br /> <br />From: Michael Grochala, Community Development Director <br /> <br />Re: Wetland/Natural Resource Restoration Revolving Fund Plan <br /> <br /> <br />Background <br /> <br />In 2009, as an outcome of the Environmental Board goals setting process, staff began <br />evaluating the possible restoration of an existing wetland complex in Wollan Park, <br />located on the City’s north side. During the initial investigation it was determined that <br />the restoration efforts would be eligible for wetland banking credits. The process of <br />wetland banking allows the city to restore and/or create wetland and sell credits through <br />the state wetland bank. The recently completed Wollan Park wetland bank will provide <br />approximately 5.96 acres of Army Corps of Engineers (ACOE certified bank credits. <br />While bank credits are subject to market fluctuations recent sales in Lino Lakes have <br />been above $2.00 a square foot. In addition to Wollan Park the City previously <br />established a wetland bank along Otter Lake Road that was completed in 2013. <br /> <br />One of the overall goals for the establishment of the bank was to create a funding source <br />that would allow the city to acquire properties with potential high ecological value and <br />restore them as part of the City’s greenway system. With the Wollan Bank coming <br />online by summer of 2017 staff is proposing development of an overall policy document <br />that establishes the goals, priorities, and mechanics of the wetland banking program. <br /> <br />The City C ouncil authorized preparation of the plan in January of 2017. WSB has <br />completed the plan with identifies six (6) potential bank sites and evaluates options for <br />wetland credit compensation. <br /> <br />The Environmental Board reviewed the plan at its July meeting and recommended <br />acceptance and implementation. <br /> <br />Requested Council Direction <br /> <br />Staff is requesting Council direction to place acceptance of the study on the August 14, <br />2017 meeting for consideration. <br /> <br />Attachments <br /> <br />1. Natural Resource Revolving Fund Plan