02/27/2008 Env Bd Packet - Laserfiche WebLink

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• Agenda Item 5A • • Environmental Board Meeting Date: February 27, 2008 Topic: Expenditure Review, Yearly Work Plan for Foxburough Development and Recommendations. Background: Foxburough is a conservation development that set up a stewardship fund to manage natural resources in conservation easements of the development. The Foxburough Stewardship fund was established to provide a funding source for the maintenance, repair and improvement of conservation areas. The Developer contributed $100,000.00 as an endowment to the establishment of the fund. Interest earned each year on the $100,000 is the providing source of funds for scheduled work to be done in Foxburough. In addition, each lot has an annual assessment from the association of $100 for the Conservation fund. Since there are 57 lots in the development, $5700 is contributed each year to the fund. The Association will pay the annual Fund payments for each of the 57 lots within the development to the City on or before January 31 of each year. The first $100 per lot Fund assessment shall be assessed and collected during calendar year 2006 and shall be paid by the Association to the City on or before January 31, 2007. The City is the custodian of the Fund and is responsible for the management of the Fund. There was also $40,000 allocated by the Developer for initial restoration work in the conservation easements during development. As of January 1, 2008, there is approximately $17,000 in the fund to spend. The Association is responsible each year to write a management proposal for the conservation areas, within the scope of yearly budget. This plan must be approved by the City and then the funds are released after completion of the work plan. Mr. Mike Black of North Oaks Realty, and Jason Husveth of Critical Connections have submitted the attached Management Proposal documents for your Consideration. A burn was also done last fall. The cost for this burn was $4,770.00. The burn was within the scope of work described in on page 31 (Attachment 1) of the Foxburough Development Restoration and Management Plan "Restoration and Management Needs and Tasks (Years 1 -5), for Fall 2005 /Spring 2006." This theoretically should have been cleared by the Board but time got short for accomplishing the task and Environmental decided to go forward with it.