HomeMy WebLinkAbout2020-072 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 20-72
AUTHORIZING SALE OF WETLAND CREDITS
GW ELM ROAD SOUTH, INC.
WHEREAS, The City has established a wetland bank to preserve and restore open space and to
mitigate the local impacts to wetlands associated with public and private development
improvements; and
WHEREAS, The City has received a request for the purchase of .2969 credits from the Otter
Lake Wetland Bank (BWSR Acct. 1122) in the amount of $25,865.93, and
WHEREAS, The City Council finds it is in the best interests of the City to make such credit
sale;
NOW, THEREFORE BE IT RESOLVED by The City Council of The City of Lino Lakes that
staff is authorized to enter into a purchase agreement with GW Elm Road South, Inc., in the
amount of $25,865.93 for purchase of .2969 acres of wetland credit. The price may be adjusted to
reflect the final approved credit amount determined by the RCWD and ACOE.
BE IT FURTHER RESOLVED that GW Elm Road South, Inc., shall be responsible for
payment of the withdrawal and stewardship fees associated with said transaction.
Adopted by the Council of the City of Lino Lakes this 13th day of July, 2020.
The motion for the adoption of the foregoing resolution was introduced by Council Member
(: h l w rid and was duly seconded by Council Member Lvek and upon
vote being taken thereon, the following voted in favor thereof:
R u L, t Avid , SA -Des z , R a $.- --1y
The following voted against same:
ATTEST:
Bartell, Cit; Cler
($-• t\--)
Ro,� Rafferty, Mayor