Parks Packet 04.20.22 - Laserfiche WebLink

Home

Mr. Bryan Bear April 15, 2022 Page 7 G:\.Clients All\Hugo\Proposals\Northstar Bank\LETTER_HUGO_NorthstarBank_041522_Final.docx document hydrology across the site and better understand the ability of the site to receive credit for wetland banking. The cost of competing this task is $3,870 which includes installation of the monitoring wells, monthly data downloads, data analysis, and a report. Veg Monitoring The prospectus will require some data on vegetation to fully create the replacement plan; specifically the vegetation management section. The survey data would allow us to identify the existing vegetative community, invasives and natives, and which native plants would be appropriate for establishment. We will conduct an initial vegetation survey of the proposed bank site using standard methodology developed by the US Department of Agriculture (USDA) Forest Service. This initial survey will include sample plots within each of the three existing wetland plant communities. Data collected during this survey will allow us to assess the existing vegetative communities and to document changes in plant species cover and frequency over time. The data collected will allow us to develop a Floristic Quality Index for easy comparison between before and after restoration, allowing the City to provide evidence of an increased functional lift. The cost for this would be $4,398 which includes field work and a memo summarizing the results of the survey. Draft Prospectus After collecting data on hydrology and vegetation, and, if this data shows that a substantial amount of credit can be generated as discussed earlier in this letter, a draft prospectus would be completed. This is a relatively simple process that identifies the bank area boundaries, credit actions, total amount of credit, and identifies any issues that would impact the bank. This deliverable would include a credit table and wetland bank map, identifying credit actions. The cost for this is $6,196. Activities include a site visit, development and submittal of draft prospectus to TEP, and a meeting with the TEP and city to obtain comments. Thi s will provide direction to the city as to the feasibility of the bank and identify issues to be addressed in the future prospectus. Cost Estimating If the draft prospectus feedback indicates that the bank is viable and development of the prospectus and wetland banking is warranted, prior to the development of these documents, creating a cost estimate for City staff to review would provide a basis for determining if the next steps are in fact warranted. These would allow staff to understand the “all-in” cost of bank development and compare that to the revenue that may potentially be generated by the bank. This cost estimate would include engineering, design, permitting, construction, and monitoring for the time needed to establish the bank. The typical time involves maximum two years for permitting and five years for monitoring to prove the restoration is successful. This can be reduced depending on how the site performs. Based on a seven (7) year period, the total for this task is $7,500. These tasks can be approved on a step-by-step basis, meaning that after collecting the hydrology and vegetation data, the city can review the data and make a determination on if they would like to move on to the next step in the process outlined above. Meaning that the draft prospectus would only be completed if the vegetation and hydrology data showed that development of the draft prospectus would be warranted. Likewise, the cost estimate task would only be completed at the conclusion of the draft prospectus task if the TEP review proved favorable to the development of the bank.