Title
Joint resolution authorizing an emergency appropriation in the amount of $156,543.50 in Stormwater Management Commission's (SMC's) Miscellaneous Contractual Services account for the purchase of 1.27-acres of Certified Wetland Mitigation Credits at the Neal Marsh Wetland Mitigation Bank Four within the Des Plaines River Watershed.
Staff Summary
* The SMC Wetland Restoration Fund (WRF) collects fees from wetland impacts into a deferred revenue account for each of the four major watersheds in the county.
* Once the fund reaches a threshold value, or credits become available within a watershed wetland bank, the WRF policies mandate a financial process, requiring an emergency appropriation to allocate funds for expenditure.
* The SMC approved the expenditure of $156,543.50 at its' November 2, 2017 meeting to purchase 1.27 acres of certified wetland mitigation credit at the Neal Marsh Bank Four Wetland Mitigation Bank (Des Plaines River watershed) in order to replace 1.27 acres of isolated wetlands lost due to development impacts.
Body
RESOLUTION
WHEREAS, the Stormwater Management Commission provides for various Wetland Restoration projects; and,
WHEREAS, the Stormwater Management Commission has agreed to appropriate $156,543.50 for such projects using Stormwater Management Wetland Restoration Fund Permit Fees - Des Plaines River Watershed; and,
WHEREAS, there are sufficient funds available in the Stormwater Management Commission's Deferred Revenue account 212-0000000-22300-000-000-000-42031 to cover this emergency appropriation.
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that an emergency appropriation in the amount of $156,543.50 in the Stormwater Management Commission's Miscellaneous Contractual Services 212-4208110-79940-000-000-000-42031 for the Purchase of 1.27-acres of Certified Wetland Mitigation Credits at the Neal Marsh Wetland Mitigation Bank 4 is hereby approved; and,
WHEREAS, there will be a $156,543.5...
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