Title
Authorize the City Manager to negotiate and execute a U.S. Army Corps of Engineers Wetland 404 Permit Mitigation Credit Sales Agreement with Wetlands Management, L.P., in the amount of $177,735.00.
Body
On January 7, 2019, the City Council awarded the construction contract for Bid No. 2019-038 - Stream Bank Stabilization and Bridge Replacement Project South Mesquite Creek to Coppell Construction in the amount of $5,574,776.20. The required wetland permit has been obtained from the U.S. Army Corps of Engineers (USACE). The permit requires purchase of wetland mitigation credits from a wetland bank. An agreement with Wetlands Management, L.P., for the purchase of the necessary wetland credits in the amount of $177,735.00 has been obtained. Finalization of the agreement with the wetland bank for the purchase of the credits is necessary before work on the project can start work.
Financial Implications
The cost of the wetland mitigation credits is $177,735.00. Project costs including funding for purchase of these wetland mitigation credits is funded by the Towne Centre Tax Increment Finance Reinvestment Zone (TIRZ).
Recommended/Desired Action
Staff recommends authorizing the City Manager to negotiate and execute a Mitigation Credit Sales Agreement with Wetlands Management, L.P., in the amount of $177,735.00.
Attachment(s)
Location Map
Drafter
Matthew Holzapfel, P.E.
Head of Department
Matthew Holzapfel, P.E.