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• <br />• <br />• <br />CITY OF LINO LAKES <br />RESOLUTION NO. 20-78 <br />AUTHORIZING SALE OF WETLAND CREDITS <br />WETLAND CREDIT AGENCY <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 to purchase a total of .1168 non - Army Corps of <br />Engineers certified credits from the Otter Lake and Wollan Wetland Banks (BWSR Acct. 1122 <br />and 1601), respectively in the amount of $10,175.61, 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 Wetland Credit Agency., in the <br />amount of $10,175.61 for purchase of .1168 acres of wetland credit. The price may be adjusted <br />to reflect the final approved credit amount determined by the RCWD and ACOE. <br />BE IT FURTHER RESOLVED that Wetland Credit Agency., shall be responsible for payment <br />of the withdrawal and stewardship fees associated with said transaction. <br />Adopted by the Council of the City of Lino Lakes this 27th day of July, 2020. <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br />t . y d e and was duly seconded by Council Member Cck. v Pg n and upon <br />vote being taken thereon, the following voted in favor thereof: <br />Lyc{e', C2..vc, Ruhtav4, S-t-vesz, 1 &+-Eert <br />The following voted against same: <br />t loate <br />ATTEST: <br />Rfferty, Mayor <br />