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• Nature's Refuge DRAFT DECEMBER 14, 2006 EAW Record of Decision page 2 protection for a valuable natural area, while providing wetland mitigation credit to offset the proposed wetland impacts created by the project, and excess mitigation credits that will be used as wetland mitigation bank credit. The proposed conservation areas will consist of non - impacted wetlands and adjacent forested upland areas. The conservation areas will be placed under conservation easement, and will be restored according to a formal restoration plan. The plan will include initial restoration activities, plus a 5 -year maintenance and monitoring plan. Following this establishment period, the conservation areas will be preserved, and managed in perpetuity. The specifics of the funding plan for this ongoing management has not yet been determined, but will include a combination of sources such as escrow earnings and homeowner fees. The City has not received a formal application for the project, which will include specific design details. While the actual design has not been completed, a significant amount of information has been gathered to allow for completion of the EAW. The intent of preparing the EAW based on the concept plan is to utilize information gathered through environmental review to inform and improve on project design. CRITERIA FOR DETERMINING THE SIGNIFICANCE OF • ENVIRONMENTAL EFFECT Minnesota Rule 4410.170, Subp. 7 specifies the following criteria to be used in deciding whether a project has the potential for significant environmental effects. An Environmental Impact Statement (EIS) is not considered necessary for this project based on the criteria listed below. 1. Type, Extent, and Reversibility of Environmental Effects The EAW and this Findings of Fact summarize the type and extent of impacts to the surrounding environment. Alternatives to avoid potential impacts on the environment were considered and evaluated during the development of the site plan and prior to the preparation of the EAW. The proposed site plan also includes design features to mitigate potential social, economic, and environmental impacts The following is a summary of the major findings of the EAW regarding potential social, economic, and environmental impacts as a result of the proposed mixed -use development project. •