ADMINISTRATION - Joe Huss, Finance Director
Title
APPROPRIATE SPECIFIC FUNDS FOR THE MANAGEMENT OF THE BLAINE WETLAND SANCTUARY AND APPROVE THE CAPITAL IMPROVEMENT PLAN FOR THE OPEN SPACE FUND
Background
Part of the permitting requirements for the establishment of the Site 7 Wetland Bank is the U.S. Army Corps of Engineers (Corps) requirement for Financial Assurance. To meet this requirement, the City may appropriate specific funds to be set aside for the management of the Site 7 Wetland Bank.
The Corps has given the City five options to meet the financial assurance requirement. The five options are; Letter of Credit; Performance Bond; Cash in Escrow; Casualty Insurance; or Legislative Appropriations. After reviewing the requirements of the available options, staff recommendation is to move forward with a Legislative Appropriation. Per the Corps, a Legislative Appropriation provides assurance that, should the City’s efforts on wetland mitigation for Site 7 fall short of Corps standards, the City would be able to draw on funds to correct the mitigation deficiencies or provide alternative compensatory mitigation. This alternative requires a line-item appropriation in an adopted government budget.
Staff has prepared the attached 10-year Open Space Capital Improvement Plan and 2018 Budget for Council approval. The plan provides an appropriation of funds to cover the costs of the management of Site 7, as approved by the City Council in the contract with Critical Connections Ecological Services to manage the Site 7 Wetland Bank for the next five years.
Recommendation
By motion, approve the following resolution.
Body
WHEREAS, a proposed 10-year Open Space Capital Improvement Plan and 2018 Budget for the fiscal year commencing January 1, 2018 has been prepared by the City Manager and Finance and;
WHEREAS, the City Council has examined, studied, and reviewed said proposed 10-year Open Space Capital Improvement Plan and 2018 Budget; and
WHEREAS, the City Council has, after due consideration and deliberation, made such amendments and adjustments in the proposed 10-year Open Space Capital Improvement Plan and 2018 Budget as they consider necessary, desirable, or expedient.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Blaine as follows:
1. That the proposed 10-year Open Space Capital Improvement Plan and 2018 Budget attached hereto is approved.
2. That the 2018 appropriations as amended attached hereto are approved.
3. That the 2018 funding sources identified and attached hereto are approved.
4. That the City Manager is authorized and directed to implement and to administer, within the budgetary funding limits and within adopted City policy and relevant State and City laws and regulations, said approved 10-year Open Space Capital Improvement Plan and 2018 Budget.
PASSED by the City Council of the City of Blaine this 18th day of January 2018.