HomeMy WebLinkAbout2020-170 Council Resolution•
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CITY OF LINO LAKES
RESOLUTION NO. 20-170
AUTHORIZING SALE OF WETLAND CREDITS
WETLAND CREDIT AGENCY
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 to purchase a total of .0689 non -Army Corps of
Engineers (ACOE) certified credits from the Otter Lake Bank (BWSR Acct. 1122); .9898 non-
ACOE credits from the Wollan Wetland Bank (BWSR Acct. 1601) and; .7813 of ACOE certified
credits from the Wollan Bank (BWSR Acct.1601), in the amount of $181,929.21, 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 Wetland Credit Agency., in the
amount of $181,929.21 for purchase of 1.84 acres of wetland credit. The price may be adjusted
to reflect the final approved credit amount determined by the Local Governmental Unit (LGU).
BE IT FURTHER RESOLVED that Wetland Credit Agency., 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 28th day of December, 2020.
The motion for the adoption of the foregoing resolution was introduced by Council Member
_ Stoesz and was duly seconded by Council Member _ Ruhland and upon
vote being taken thereon, the following voted in favor thereof:
Stoesz, Ruhland, Lyden, Cavegn, Rafferty
The following voted against same:
None
ATTEST:
Ju ianne Bartell, C. Cle
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