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Consider Authorization of Purchase Agreement for Wetland Banking for <br /> Improvement Project 03-20, NW Trunk Sewer and Water Project <br />By: Brian Olson, Assistant Director of Public Works/Principal City Engineer <br /> <br />Background: <br /> <br />We are currently in the bidding process for the NW Sewer Project. We have applied for a <br />permit from the Lower Rum River Watershed Management Organization (LRRWMO). <br />We will impact approximately 0.26 acres of wetland as part of the construction project <br />and will be required to mitigate for this impact 2:1. <br /> <br />The enclosed pumhase agreement with Rinke-Noonan Land and Cattle Company (seller) <br />is for the purchase of 0.52 acres of wetland bank to be used in lieu of our mitigation. The <br />purchase price for the wetland bank is $7,166.83. <br /> <br />The signed purchase agreement must be given to the LRRWMO before construction <br />begins and the permit is issued. The City is also being asked to issue a check for 10% of <br />the purchase price as earnest money. This check will be issued upon your authorization <br />for this purchase agreement. <br /> <br />Recommendation: <br /> <br />Staff recommends authorizing the purchase agreement contingent upon City Attorney <br />review. <br /> <br />Action: <br /> <br />Motion to authorize the execution of the enclosed purchase agreement contingent upon <br />City Attorney review. <br /> <br />Reviewed By: <br />Director of Public Works/Fire Chief <br />Assistant Director of Public Works/Principal City Engineer <br /> <br />CC: 02/14/06 <br /> <br /> <br />