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• <br />• <br />CITY OF LINO LAKES <br />RESOLUTION NO. 20-72 <br />AUTHORIZING SALE OF WETLAND CREDITS <br />GW ELM ROAD SOUTH, INC. <br />WHEREAS, The City has established a wetland bank to preserve and restore open space and to <br />mitigate the local impacts to wetlands associated with public and private development <br />improvements; and <br />WHEREAS, The City has received a request for the purchase of .2969 credits from the Otter <br />Lake Wetland Bank (BWSR Acct. 1122) in the amount of $25,865.93, and <br />WHEREAS, The City Council finds it is in the best interests of the City to make such credit <br />sale; <br />NOW, THEREFORE BE IT RESOLVED by The City Council of The City of Lino Lakes that <br />staff is authorized to enter into a purchase agreement with GW Elm Road South, Inc., in the <br />amount of $25,865.93 for purchase of .2969 acres of wetland credit. The price may be adjusted to <br />reflect the final approved credit amount determined by the RCWD and ACOE. <br />BE IT FURTHER RESOLVED that GW Elm Road South, Inc., shall be responsible for <br />payment of the withdrawal and stewardship fees associated with said transaction. <br />Adopted by the Council of the City of Lino Lakes this 13th day of July, 2020. <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br />(: h l w rid and was duly seconded by Council Member Lvek and upon <br />vote being taken thereon, the following voted in favor thereof: <br />R u L, t Avid , SA -Des z , R a $.- --1y <br />The following voted against same: <br />ATTEST: <br />Bartell, Cit; Cler <br />($-• t\--) <br />Ro,� Rafferty, Mayor <br />