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CITY COUNCIL <br />AGENDA ITEM 6E <br /> <br /> <br />STAFF ORIGINATOR: Michael Grochala, Community Development Director <br /> <br />MEETING DATE: January 9, 2017 <br /> <br />TOPIC: Consider Resolution No. 17-08, Authorizing Preparation of <br />Wetland and Natural Resource Revolving Fund Plan <br /> <br />VOTE REQUIRED: 3/5 <br /> <br /> <br />INTRODUCTION <br /> <br />Staff is requesting council authorization to enter into a professional service contract with WSB <br />to prepare a Wetland and Natural Resource Revolving Fund Plan. <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, located on <br />the City’s north side. During the initial investigation it was determined that the restoration <br />efforts would be eligible for wetland banking credits. The process of wetland banking allows <br />the city to restore and/or create wetland and sell credits through the state wetland bank. When <br />completed the Wollan Park wetland bank will provide approximately 5.96 acres of Army Corps <br />of Engineers (ACOE) certified bank credits. While bank credits are subject to market <br />fluctuations recent sales in Lino Lakes have been above $2.00 a square foot. In addition to <br />Wollan Park the City previously established a wetland bank along Otter Lake Road that was <br />completed in 2013. This bank, however, is not ACOE certified. <br /> <br />One of the overall goals for the establishment of the bank was to create a funding source that <br />would allow the city to acquire properties with potential high ecological value and restore them <br />as part of the City’s greenway system. With the Wollan Bank coming online by summer of <br />2017 staff is proposing development of an overall policy document that establishes the goals, <br />priorities, and mechanics of the wetland banking program. <br /> <br />WSB has submitted a proposal to assist the City with the development of the plan in the not to <br />exceed amount of $8,182. The proposal includes the following tasks: <br /> <br />1. Develop Restoration Goals <br />2. Develop Pricing Stategy for Wetland Bank <br />3. Identify Future Restoration Areas <br />4. Create Revolving Fund Plan <br /> <br />Funding will be from the Surface Water Management Fund. The Environmental Board has <br />included the establishment of the plan as part <br /> <br />