HomeMy WebLinkAbout2021-010 Council Resolution CITY OF LINO LAKES
RESOLUTION NO.21-10
AUTHORIZING SALE
OF WETLAND CREDITS
TEG LAND HOLDINGS
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.7007 acres(30,523 SF) of
Army Corps of Engineers certified credits from the Wollan Bank(BWSR Acct.1601), in the
amount of$76,306.23, 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 TEG Land Holdings, in the amount of
$76,306.23, for purchase of.7007 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 TEG Land Holdings, 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 22nd day of February, 2021.
The motion for the adoption of the foregoing resolution was introduced by Councilmember
Cavegn and was duly seconded by Councilmember Lyden and upon vote being taken thereon,
the following voted in favor thereof: Cavegn,Lyden, Ruhland, Stoesz,Rafferty
The following voted against same: none
i it'` 114 1-71v,\"-$3
Ro afferty,Mayor
ATTEST:
Julia e Bartell, ity Clerk