Laserfiche WebLink
CITY COUNCIL <br />AGENDA ITEM 1C <br />STAFF ORIGINATOR: Michael Grochala, Community Development Director <br />MEETING DATE: July 27, 2020 <br />TOPIC: Consider Resolution No. 20-77, Approving Sale of Wetland Bank <br />Credits, Larry Head <br />VOTE REQUIRED: 3/5 <br />INTRODUCTION <br />Staff is requesting City Council consideration to approve the sale of .0689 acres (3000 sq.ft.) of <br />wetland credit from bank 1122 (Otter Lake) for a total purchase price of $6,002.57 plus <br />transaction fees. <br />BACKGROUND <br />The Wetland Conservation Act (WCA) requires replacement of any construction related wetland <br />impacts on a per square foot basis. Minnesota's wetland banking program includes both private <br />and state-sponsored wetland banks which have "credits" that are used to offset (mitigate) <br />authorized wetland impacts. The banks are subject to approval of both the Minnesota Board of <br />Water and Soil Resources (BWSR) and the Army Corps of Engineers (ACOE). The City <br />currently has two banks in place. <br />Bank No. 1122 (Otter Lake) is located east of I-35E and south of CSAH 14. .1854 acres of <br />credit are available. This bank is not ACOE approved. Credits can only be used for wetland <br />impacts not under ACOE jurisdiction. <br />Staff has received a request to purchase wetland credits from Mr. Larry Head. The acquisition is <br />intended to mitigate potential wetland impacts related to a pending single family home <br />construction in another city. The purchase agreement provides for the sale of credits subject to <br />approval of the wetland mitigation plan by the local, state, and federal regulatory agencies. <br />The buyer is requesting purchase of .0689 acre credits from this bank at the price of $2.00 per <br />sq.ft. ($6,002.57).