City of Blaine Anoka County, Minnesota - File #: EDA RES 21-18

• File #: EDA RES 21-18
• Version: 1
• Name: Wetland Credit Sales Blaine Back 40
• Type: EDA Resolution
• Status: Passed
• File created: 11/15/2021
• In control: EDA
• On agenda: 11/15/2021
• Final action: 11/15/2021
• Title: Wetland Credit Sale for the Blaine Back 40 Plat
• Sponsors: Erik Thorvig

Date	Ver.	Action By	Action	Result
11/15/2021	1	EDA	Adopted	Pass

Economic Development Authority - Erik Thorvig, Community Development Director

Title

Title

Wetland Credit Sale for the Blaine Back 40 Plat

end

Executive Summary

Sale of .8476 acres of wetland credits for the light industrial project located at 104^th Avenue / Flanders Street.

Background

Approvals were received in 2021 for the Blaine Back 40 plat located at 104^th Avenue/Flanders Street. The plat creates two light industrial lots.

The project requires .8476 acres of wetland credits. The developer has requested to purchase wetland credits from the EDA wetland bank (Branch 3) in the amount of $2.50/sf. The total sale amount would be $92,303.64. If the sale is completed, the EDA would have 23.3 acres of wetland credits available for future projects.  

Strategic Plan Relationship

Not applicable.

Board/Commission Review

Not applicable.

Financial Impact

The developer has requested to purchase wetland credits from the EDA wetland bank (Branch 3) in the amount of $2.50/sf. The total sale amount would be $92,303.64.

Public Outreach/Input

Not applicable.

Staff Recommendation

By motion, adopt the attached resolution.

Attachment List

Site Location Map (note the map was from the preliminary plat application, hence the public notification notation)

Body

WHEREAS; the City of Blaine Economic Development Authority has established a wetland bank for the sale of wetland credits for purposes of economic development within the City of Blaine; and

WHEREAS; the developer of the Blaine Back 40 plat has requested to purchase .8476 acres of wetland credits to facilitate construction of two light industrial buildings as part of the Blaine Back 40 plat; and

WHEREAS; the developer is willing to purchase .8476 acres of wetland credits from the EDA at a price of $2.50/sf.

NOW THEREFORE, BE IT RESOLVED, that the Blaine Economic Development Authority hereby approves the sale of .8476 acres of wetland credits for $2.50/sf for the project located at 104^th Avenue/Flanders Street and authorizes staff to complete any necessary administrative paperwork to facilitate the sale.

PASSED by the Blaine Economic Development Authority this 15^th of November, 2021.