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• <br />• <br />CITY OF LINO LAKES <br />RESOLUTION NO. 20-170 <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 .0689 non -Army Corps of <br />Engineers (ACOE) certified credits from the Otter Lake Bank (BWSR Acct. 1122); .9898 non- <br />ACOE credits from the Wollan Wetland Bank (BWSR Acct. 1601) and; .7813 of ACOE certified <br />credits from the Wollan Bank (BWSR Acct.1601), in the amount of $181,929.21, 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 $181,929.21 for purchase of 1.84 acres of wetland credit. The price may be adjusted <br />to reflect the final approved credit amount determined by the Local Governmental Unit (LGU). <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 28th day of December, 2020. <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br />_ Stoesz and was duly seconded by Council Member _ Ruhland and upon <br />vote being taken thereon, the following voted in favor thereof: <br />Stoesz, Ruhland, Lyden, Cavegn, Rafferty <br />The following voted against same: <br />None <br />ATTEST: <br />Ju ianne Bartell, C. Cle <br />• <br />