08-07-2017 Council Packet - Laserfiche WebLink

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Wetland Mitigation Fee Policy • Page 4 Minnesota Board of Water & Soil Resources • www.bwsr.state.mn.us coefficient shall be set at 6.0. This coefficient may be updated by BWSR Board Resolution or Policy to reflect the most recent wetland credit market values. A Credit Fee Schedule will be posted on the BWSR website that identifies the per credit fee associated with each transaction based on the single credit value for each bank service area. The Credit Fee Schedule will be updated no later than June 1 of each year by BWSR staff using land values reported by the Minnesota Department of Revenue and the credit value coefficient established by the Board. BWSR staff will provide notification, via a public announcement or equivalent method, of the Credit Fee Schedule update no later than 30 days prior to the effective date of the Schedule. I. Easement Stewardship Fee Determination. The easement stewardship fee will be determined using the following formula: 𝑚𝑎𝑟 𝑎𝑟𝑎𝑎�ℎ𝑟 𝑎𝑎𝑎=𝑟𝑟𝑎𝑟𝑎𝑟𝑎𝑟𝑖ℎ𝑚 𝑎𝑚𝑟𝑟 𝑚𝑎𝑟 𝑎𝑎𝑟𝑎𝑚𝑎𝑚𝑟∗𝑎𝑟𝑎𝑟𝑎𝑎𝑎 𝑚𝑟𝑚𝑎𝑎𝑟 𝑚𝑎 𝑎𝑎𝑟𝑎𝑚𝑎𝑚𝑟𝑟 𝑚𝑎𝑟 𝑎𝑎𝑚𝑘 𝑎𝑟𝑎𝑟𝑎𝑎𝑎 𝑚𝑟𝑚𝑎𝑎𝑟 𝑚𝑎 𝑎𝑟𝑎𝑎�ℎ𝑟𝑟 𝑚𝑎𝑟 𝑎𝑎𝑚𝑘 Where: Stewardship cost per easement is a BWSR derived estimate for monitoring, landowner contacts, records storage and management, processing landowner notices, and legal services associated with easement management activities; Average number of easements per bank is derived from the banking database and used as a multiplier to account for banks that may have multiple conservation easements and thus higher management cost; and, Average number of credits per bank is derived from the banking database and is used in the equation to arrive at a per credit fee that can be assessed when credits are withdrawn from the account. As of August 2016 the stewardship cost per easement is set at $7,800. Similar to the easement acquisition fee, this figure will periodically be adjusted for inflation by BWSR using the U.S. Department of Labor ECI for Total Compensation for State and Local Government Workers (seasonally adjusted). Adjustments will be made relative to the January ECI of the year of the last adjustment (with January 2016 as the base year for the first adjustment). BWSR staff will provide notification, via a public announcement or equivalent method, of a fee adjustment no later than 30 days prior to the effective date of the fee change. The average number of easements per bank and the average number of credits per bank used in the stewardship fee calculation also will be adjusted on a recurring basis to reflect changes in the bank program. Effective Date. Unless specifically addressed in Section III, the effective date of these wetland mitigation fees shall be June 1, 2017.