ECONOMIC DEVELOPMENT AUTHORITY- Bryan Schafer, Community Development Director
Title
CONSIDERATION OF THE SALE OF EDA WETLAND CREDITS
FOR THE CITY’S LEVER STREET/125TH AVENUE PROJECT.
Background
The City of Blaine has completed the plans for the Lever Street/125th Avenue street and utility project and has sent the package out for bids. That project includes new paved street section with curb and gutter and requires widening of the street base within the right-of-way to convert a rural section gravel road to a new urban section street. Along the Lever corridor and at a point on 125th the project will need to fill small portions of wetland. Because this is a road project the RCWD has suggested that the mitigation for the fill be accomplished through the purchase of wetland credits. The cost of the credits is an expected project expense and will be made part of the levied assessment.
The wetland impact will require the purchase of 17,084 square feet. At the sales price of $2 per foot the sale would be $34,168. The street project will also pay the EDA’s out of pocket BWSR fee for the withdrawal (@2.5%).
The EDA’s Wetland Bank currently has approximately 23 acres currently available plus the 14 acres held in reserve by the City’s Open Space Bank for a total of 37 acres.
Recommendation
It is recommended that the EDA adopt the Resolution approving the sale of .3922 acres of wetland credits to assist the City’s Lever Street/125th Ave roadway and utility project.
Body
BE IT RESOLVED by the Board of Commissions (the “Board) of the Blaine Economic Development Authority (the “EDA”), as follows:
WHEREAS, it is one of the goals and purposes of the Blaine EDA to improve the community, strengthen the tax base and enhance employment and housing opportunities; and
WHEREAS, the City of Blaine will be completing a large street and utility project along Lever Street and 125th Avenue to support expected growth in the Northeast Area; and
WHEREAS, the City has determined that in order for the project to be feasible there is a need to fill certain wetlands that are located along the route; and
WHEREAS, the City has identified the need to acquire .3922 acres of wetland credits and has indicated an interest in purchasing those credits from the EDA’s Wetland Bank.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the Blaine Economic Development Authority, City of Blaine, Minnesota, that the President and Executive Director of the Blaine Economic Development Authority are here authorized to execute any and all agreements and documents required for the sale and transfer of .3922 acres of EDA wetland credits to the City of Blaine at a cost of $2.00 per square foot plus the EDA’s out of pocket cost for withdrawing credits from the wetland bank.
PASSED by the Blaine Economic Development Authority this 5th day of April, 2018.