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HomeMy WebLinkAbout2023-05-01 J01E_02 Mitigation Bank Credit Purchase Agreements_McCorkleAGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: May 1, 2023 AGENDA ITEM:Consideration of approval of a resolution approving Forested Wetland Mitigation Bank Credit Purchase Agreement and Stream Mitigation Bank Credit Purchase Agreement between Jeffrey Dane McCorkle and the City of Waukee [Fox Creek Stormwater Detention Basin] FORMAT:Resolution SYNOPSIS INCLUDING PRO & CON: Approval of the Purchase Agreements is necessary to complete the construction of a stormwater detection basin as part of the Ashworth Acres North Plat 3 development. These improvements are directly east of the existing stormwater ponds north of the Holmes Murphy building. The City is assisting Knapp Properties with the US Army Corp of Engineers permitting process and as part of the process, mitigation is required due to the impacts to jurisdictional wetlands and streams. Knapp Properties will construct the improvements and dedicate the completed improvements to the City of Waukee for long term ownership and maintenance. Knapp Properties will also be responsible for the financial payment ($84,490.00) to be submitted with these approved mitigation bank purchase agreements. All of these specifics are part of a development agreement the City and Knapp Properties have been working on these past few months. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: $84,490.00 to be paid by Knapp Properties. Forested Wetland Mitigation Bank Credit Purchase Agreement $ 16,800.00 Stream Mitigation Bank Credit Purchase Agreement $ 67,690.00 $ 84,490.00 COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: RECOMMENDATION: Approve the resolution. ATTACHMENTS: I. Forested Wetland Mitigation Bank Credit Purchase Agreement II. Stream Mitigation Bank Credit Purchase Agreement PREPARED BY: Beth Richardson REVIEWED BY: Rudy Koester RK PUBLIC NOTICE INFORMATION – NAME OF PUBLICATION: DATE OF PUBLICATION: J1E2 THE CITY OF WAUKEE, IOWA RESOLUTION 2023- APPROVING FORESTED WETLAND MITIGATION BANK CREDIT PURCHASE AGREEMENT AND STREAM MITIGATION BANK CREDIT PURCHASE AGREEMENT BETWEEN JEFFREY DANE MCCORKLE AND THE CITY OF WAUKEE [FOX CREEK STORMWATER DETENTION BASIN] IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal Organization; AND, WHEREAS, the City has been assisting Knapp Properties with the U.S. Army Corps of Engineers permitting process; AND WHEREAS, approval of the Purchase Agreements are necessary to complete the construction of a stormwater detection basin as part of the Ashworth Acres North Plat 3 development; AND WHEREAS, Knapp Properties will construct the improvements and dedicate the completed improvements to the City of Waukee for long term ownership and maintenance. Knapp Properties will also be responsible for the financial payment ($84,490.00) to be submitted with these approved mitigation bank purchase agreements; AND NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waukee, Iowa, that the Forested Wetland Mitigation Bank Credit Purchase Agreement and Steam Mitigation Bank Credit Purchase Agreement between Jeffrey Dane McCorkle and the City of Waukee [Fox Creek Stormwater Detention Basin] are hereby approved. BE IT FURTHER RESOLVED that the Mayor is authorized to execute any and all documents to effectuate approval on behalf of the City. Passed by the City Council of the City of Waukee, Iowa, and approved this the 1st day of May, 2023. ____________________________ Courtney Clarke, Mayor Attest: ___________________________________ Rebecca D. Schuett, City Clerk RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN Anna Bergman Pierce R. Charles Bottenberg Chris Crone Larry R. Lyon Ben Sinclair Forested Wetland Mitigation Bank Credit Purchase Agreement This Forested Wetland Mitigation Bank Credit Purchase Agreement (this “Agreement”) is entered into this day of _________ 2023, by and between Jeffrey Dane McCorkle, referred to herein as “Sponsor”, and the City of Waukee, or its assignee referred to herein as “Permittee”. AGREEMENT NOW, THEREFORE, in consideration of the Credits, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. Credits. Sponsor has an approved Banking Instrument, referred to herein as the “McCorkle Wetland Mitigation Bank”, issued by the Army Corps of Engineers authorizing the issuance of forested wetland mitigation banking credits to offset losses aquatic resources and unavoidable adverse impacts on a permitted project, Permit No. CMVR-OD-P-2016-0023. The permitted project is pursuant to the Army Corps’ of Engineers’ Permit No. CEMVR-RD-2022- 1614, Iowa DNR Permit No. 2022-2327, for the construction of a new stormwater detention basin that will impact Fox Creek in Waukee, Iowa, referred to herein as the Permitted Project, to be performed pursuant to a §404 permit, which permit is referred to herein as the “Permit”. The permit provides for the mitigation of permanent and unavoidable adverse impacts from the Permitted Project allowed by the Permit, by purchasing 0.28 forested wetland credits in the McCorkle Wetland Mitigation Bank (Permit No. CMVR-OD-P-2016-0023). Permittee is in need of emergent credits, but because no emergent credits are available, the Army Corp of Engineers has approved substituting forested wetland credits in place of emergent credits. See attached correspondence from the Army Corp of Engineers. Sponsor represents it has good title to the Credits and the authority to transfer them without the consent of any third party. 2. Purchase Price. To satisfy the Permit requirements, Permittee agrees to purchase, and the Sponsor agrees to sell 0.28 forested wetland credits in the McCorkle Wetland Mitigation Bank for the purchase price of $16,800.00 (the “Purchase Price”). The Purchase Price is payable in full upon Permittee’s acquisition of the subject property. 3. Transfer of Credits. Upon receipt by the Sponsor of the Purchase Price in immediately available U.S. currency, the Sponsor shall transfer to the Permittee Certificate No. 2, herein referred to as Certificate, evidencing the Credits and documenting payment of the Purchase Price. It is the sole duty of the Permittee to notify the U.S. Army Corps’ of Engineers of the Certificate issuance. 4. The permittee agrees that the Permittee is not purchasing any real estate interest in the real estate containing the McCorkle Stream Mitigation Bank. The purchase is only of the Credits as specified above. 5. The Permittee agrees that the Sponsor has no responsibility or liability for any failure of the Permittee to comply with the terms of the Permit and the Permittee agrees to indemnify and hold harmless the Sponsor to the fullest extent permitted by law from and against any and all losses, damages, judgments, and expenses that the Sponsor may incur on account of any activity of the Permittee associated with the Permit and the Permitted Project. 6. Permittee agrees and understands that these credits may not be assigned to anyone without the Sponsor’s prior written approval, which approval may be withheld by the Sponsor for any reason or no reason. 7. The parties agree that this agreement represents their entire agreement and incorporates and supersedes any or all agreements or discussions. 8. This Agreement may be executed in any number of counterparts, which, when taken together, shall constitute a complete and original instrument. Dated: Dated: Jeffrey Dane McCorkle, Sponsor City of Waukee By: _______________ Its: Stream Mitigation Bank Credit Purchase Agreement This Stream Mitigation Bank Credit Purchase Agreement (this “Agreement”) is entered into this day of _________ 2023, by and between Jeffrey Dane McCorkle, referred to herein as “Sponsor”, and the City of Waukee, or its assignee referred to herein as “Permittee”. AGREEMENT NOW, THEREFORE, in consideration of the Credits, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. Credits. Sponsor has an approved Banking Instrument, referred to herein as the “McCorkle Stream Mitigation Bank”, issued by the Army Corps of Engineers authorizing the issuance of stream mitigation banking credits to offset losses of streams and unavoidable adverse impacts on a permitted project, Permit No. CMVR-OD-P-2019-1101. The permitted project is pursuant to the Army Corps’ of Engineers’ Permit No. CEMVR-RD-2022-1614 and the Iowa DNR permit number 2022-2327, for the construction of a new stormwater detention basin which will impact Fox Creek, referred to herein as the Permitted Project, to be performed pursuant to a §404 permit, which permit is referred to herein as the “Permit”. The permit provides for the mitigation of permanent and unavoidable adverse impacts from the Permitted Project allowed by the Permit, by purchasing 1,934 credits in the McCorkle Stream Mitigation Bank (Permit No. CMVR-OD-P-2019-1101). Sponsor represents it has good title to the Credits and the authority to transfer them without the consent of any third party. 2. Purchase Price. To satisfy the Permit requirements, Permittee agrees to purchase, and the Sponsor agrees to sell 1,934 credits of stream mitigation credits in the McCorkle Stream Mitigation Bank for the purchase price of $67,690.00 (the “Purchase Price”). The Purchase Price is payable in full upon Permittee’s acquisition of the subject property. 3. Transfer of Credits. Upon receipt by the Sponsor of the Purchase Price in immediately available U.S. currency, the Sponsor shall transfer to the Permittee Certificate No. 9, herein referred to as Certificate, evidencing the Credits and documenting payment of the Purchase Price. It is the sole duty of the Permittee to notify the U.S. Army Corps’ of Engineers of the Certificate issuance. 4. The permittee agrees that the Permittee is not purchasing any real estate interest in the real estate containing the McCorkle Stream Mitigation Bank. The purchase is only of the Credits as specified above. 5. The Permittee agrees that the Sponsor has no responsibility or liability for any failure of the Permittee to comply with the terms of the Permit and the Permittee agrees to indemnify and hold harmless the Sponsor to the fullest extent permitted by law from and against any and all losses, damages, judgments, and expenses that the Sponsor may incur on account of any activity of the Permittee associated with the Permit and the Permitted Project. 6. Permittee agrees and understands that these credits may not be assigned to anyone without the Sponsor’s prior written approval, which approval may be withheld by the Sponsor for any reason or no reason. 7. The parties agree that this agreement represents their entire agreement and incorporates and supersedes any or all agreements or discussions. 8. This Agreement may be executed in any number of counterparts, which, when taken together, shall constitute a complete and original instrument. Dated: Dated: Jeffrey Dane McCorkle, Sponsor City of Wuakee By: _______________ Its: