ENTER AGENDA SECTION HERE- Rebecca Haug, Water Resources Manager
Title
AUTHORIZE THE MAYOR AND CITY MANAGER TO ENTER INTO AN AGREEMENT WITH THE EDA TO ALLOCATE 14 ACRES OF WETLAND BANK CREDITS FROM THE BLAINE WETLAND SANCTUARY
Background
At the December 21, 2017 City Council Workshop, the Council discussed selling 14 acres of wetland credits from the EDA’s Wetland Bank to the Minnesota Board of Water and Soil Resources (BWSR) who is acting as the agent for the Minnesota Department of Transportation (MnDOT) for mitigation of various state roadway projects in our region.
The EDA is considering the purchase at a price of $54,450 per credit (totaling $762,300), plus applicable fees at their January 18th EDA meeting. The money from the sale would be transferred from the EDA to the City to offset maintenance and future improvement costs in the Blaine Wetland Sanctuary.
The City Council must agree to allocate 14 acres of like-value wetland credits from the City’s Site 7 Wetland Bank for future use by the EDA, at no financial cost to the EDA once the credits are available.
Recommendation
By motion, the NRCB recommend the City Council approve the allocation of 14 acres of like-value wetland credits from the City’s Site 7 Wetland Bank for future use by the EDA, at no financial cost to the EDA once the credits are available.