SUBJECT
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Approve the Wetland Mitigation Credit Purchase and Sale Agreement with the Missing Link Mitigation Bank to purchase 2.07 freshwater forested state credits for the wetland impacts on the North Ridge Trail Project. ($455,400 one-time expense)
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DESCRIPTION
The North Ridge Trail roadway project is in the current year CIP for the Roads & Drainage Division. The scope of the project is a new two-lane road that runs parallel to US 27 and will connect Deen Still Road to Sand Mine Road. The project length is 4.1 miles. The design is complete.
During the environmental permitting coordination process with the Southwest Florida Water Management District (SWFWMD) and with the US Army Corps of Engineers (USACOE), it has been determined that the County is required to mitigate for impacts to wetlands within the project limits. This Agreement is to authorize the purchase of wetland mitigation credits to satisfy the requirements of the SWFWMD permit. The Agreement with Missing Link Mitigation Bank is to purchase 2.07 freshwater forested state credits which will satisfy the terms and conditions of the SWFWMD permit. A separate mitigation credit purchase agreement for federal credits will be brought forward at a later date for Board approval.
The purchase price is $220,000 per credit for 2.07 freshwater forested state credits for a total amount of $455,400.00. Approval of this Wetland Mitigation Credit Purchase and Sale Agreement and a payment of $455,400.00 will allow the Missing Link Mitigation Bank to transfer the 2.07 freshwater forested state credits for the North Ridge Trail Project and satisfy the terms and conditions of the SWFWMD permit.
RECOMMENDATION
Request the Board approve the Wetland Mitigation Credit Purchase and Sale Agreement with the Missing Link Mitigation Bank in the amount of $455,400.00 for the North Ridge Trail Project.
FISCAL IMPACT
Funds are available within the Roads and Drainage 5 Year CIP in the Impact Fee Northeast Fund.
CONTAC...
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