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SECTION IV Natural Resources Revolving Fund Plan City of Lino Lakes WSB Project No. 2988-470 Page 12 IV. Discussion & Recommendations The City is committed to reaching the goals set forth in their Comprehensive Plan and Resource Management Plan. Identification of the six sites gives the City a framework through which they can prioritize restoration or acquisition plans based on an ability to fund future natural resource restoration projects. A. Future Studies The potential wetland bank sites summarized in this plan were evaluated using primarily off -site resources. Potential future studies that may be necessary to determine the actual amount of wetland banking credit possible include: • Level 2 wetland delineation to determine the actual extents of existing wetland • Botanical survey to assess the vegetative diversity of each site • MnRAM assessment to evaluate the existing and potential functional value of each site • Hydrology study to evaluate the extent of drainage in areas where ditches are present B. Coordination with Regulatory Agencies As each potential bank site is evaluated, coordination with the regulatory agencies will be necessary early on to identify potential issues or opportunities, and to ultimately approve the wetland bank plan. The Rice Creek Watershed District (RCWD) currently serves as the WCA Local Government Unit for all the identified sites and would be responsible for approving the bank through the WCA process, though the Board of Water and Soil Resources (BWSR) is anticipated to take over review and approval of banking applications in 2017. The Technical Evaluation Panel (RCWD, BWSR, Anoka Conservation District, and DNR) would also review and provide comments on any submitted banking plan. The US Army Corps of Engineers would be responsible for review and approval of a wetland bank plan through their program. In addition to providing comment and ultimate approval, local agencies may also be available as project partners. Partnership opportunities could include BWSR Road Replacement or funding partnerships with RCWD or the Anoka Conservation District. C. Wetland Bank Pricing The City will set a fee annually for each wetland bank. The fee will be evaluated based on current market conditions and is expected to be an average of the prices of other local banks in the area and will be adjusted as needed to cover expenses related to the operation and maintenance of individual bank sites. D. Revolving Fund Proceeds from the sale of credits from established wetland bank s are expected to be utilized in the following sequence: 1. Fund the future maintenance of the established wetland bank (recommended 10% of the sale, to a maximum of $10,000/transaction) 2. Fund land acquisition for future bank sites 3. Fund construction/restoration of future bank sites