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The LRRWMO will maintain an inventory of all qualified Volume Credits accumulated and sold. Permit <br />applicants are responsible for contacting a seller of Volume Credits and arranging the sale based on terms <br />established by the interested parties. The LRRWMO will certify the sale through a form established by the <br />LRRWMO and completed by the buyer and seller of the Volume Credits. Funds contributed to the Stormwater <br />Facilities fund from a municipality shall be spent within that municipalities jurisdiction to the extent possible. <br />The handout for the Volume Banking and Stormwater Impact fund is attached to the case. <br />The LRRWMO board is planning to vote on these items at the August 2012 meeting. <br />Recommendation: <br />Staff recommends voting for the Volume Banking and Stormwater Impact fund items at the LRRWMO Board <br />meeting. <br />Staff recommends (accepting / modifying) the surety requirements. <br />Funding Source: <br />The sureties will be posted developers. The City will be responsible for sureties on City projects, the fees will need <br />to be part of the overall budget for the project. <br />Council Action: <br />Motion to provide direction to LRRWMO representative based on discussion. <br />Surety Analysis <br />Volume Banking <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 07/26/2012 12:44 PM <br />Form Started By: Len Linton Started On: 07/25/2012 10:01 AM <br />Final Approval Date: 07/26/2012 <br />