02-04-2019 Council Packet - Laserfiche WebLink

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Staff would like to get the council's opinion on a pricing strategy as a basis for establishing our minimum sale price. The base price would be to recover our initial investment. In the case of the Otter Bank (constructed as part of the Otter Lake Road project in 1997) costs where incorporated into the overall street improvement project. No specific bank costs where tracked. Since this is not ACOE approved values are lower. Values on non-ACOE credits are closer to 1.00 1.50 per square foot. Woolan's Park budget is $125,000 (includes in -kind labor). A baseline price of $.80 would recover all costs. Prices in the $2.00 to $2.25 SF range would likely result in a quicker return on investment while providing revenues for future efforts. Prices at the high end $2.40 to $2.50 SF may result in a longer return. SQFT $0.80/SF $1.00/SF $1.85/SF $2.00/SF $2.25/SF $2.50/SF Fresh $ $ $ $ $ $ Meadow 124,485.77 99,588.61 124,485.77 230,298.67 248,971.54 280,092.98 311,214.42 Shallow $ $ $ $ $ $ Marsh 36,028.48 28,822.78 36,028.48 66,652.68 72,056.95 81,064.07 90,071.19 $ $ $ $ $ $ 225,070.16 128,411.40 160,514.24 296,951.35 321,028.49 361,157.05 401,285.61 The council may wish to review a combination that allows for a quicker repayment on the initial investment and then an increase in pricing for the remaining credits. We do expect that the number of credits available from the Woolan bank will increase upon completion of the Year 5 monitoring. Restoration activities have been highly successful and our credit percentages are likely to be maximized. Requested Council Direction Staff is requesting Council feedback. Based upon the comments received staff will formulate a pricing policy for council review. Attachments 1. Bank Location Map 2. Sample Purchase Agreement