ADMINISTRATION- Dan Schluender - City Engineer
Title
AUTHORIZE CITY MANAGER TO APPROVE WETLAND CREDIT SALES UNDER $50,000
Background
The sale of wetland credits was discussed during the September 21, 2020, Council workshop. Discussion centered on the current process, which directs all sales to City Council for approval.
The timing of this process has led to lost opportunities to sell credits. In many cases, a buyer does not have time to wait for the sale to go to the next available Council meeting. Council expressed interest in authorizing the City Manager to administer wetland credit sales up to a limit of $50,000. This would allow for potential sales of approximately 0.46 acres (20,000 square feet) at $2.50 per square foot or 0.36 acres (16,667 square feet) at $3.00 per square foot. Allowing the City Manager to approve wetland credit sales up to $50,000 will provide more opportunities to sell the City’s wetland credits.
Recommendation
By motion, authorize the City Manager to approve wetland credits sales up to $50,000.