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SECTION I <br /> <br /> <br /> <br />Natural Resources Revolving Fund Plan <br />City of Lino Lakes <br />WSB Project No. 2988-470 Page 2 <br />based trail system. <br /> <br />B. Project Purpose <br /> <br />The purpose of the Lino Lakes Natural Resources Revolving Fund Pla n (NRRFP) is to further the <br />City’s goals of Greenway System development, stormwater management and water quality <br />improvements, public open space development, and economic development by establishing a <br />self-funding mechanism to acquire, protect, and enhance high value ecological areas. <br /> <br />The goals of the NRRFP are defined as: <br /> <br />1. Create a high-value greenway system <br />2. Promote economic enhancement and development <br />3. Establish a wetland bank <br />4. Ensure opportunities for replacement of wetland impacts from both private development and <br />public projects within Lino Lakes <br /> <br />C. Existing Banks <br /> <br />The City of Lino Lakes currently owns two wetland banks, Bank No. 1122 and the Bank No. 1601 <br />(Figure 5). Bank No. 1122 is not ACOE-approved, so cannot be used or sold for mitigation of <br />wetland impacts involving Waters of the US. Bank No. 1601 is ACOE-approved, so can be used <br />or sold for mitigation of any wetland impacts. <br /> <br />Bank No. 1122 is located east of I-35E and south of CSAH 14. To date, this bank has only been <br />used for city-sponsored projects and credits have not been sold on the public market. <br /> <br />Bank No. 1601 is located west of CSAH 23 and north of CSAH 14. The cost to establish this bank <br />totaled $75,000. Credit prices for the bank will be evaluated annually and adjusted to market <br />rates. <br /> <br />Profits produced by the sale of credits from these two banks are expected to be used toward the <br />establishment and maintenance of additional wetland banks as identified in this plan.