Title
Joint resolution authorizing an emergency appropriation of Wetland Restoration Funds in the amount of $370,215 for the purchase of 3.842 acres of wetland mitigation credit to replace 2.58 acres of isolated wetlands lost due to development impacts.
Staff Summary
* The Stormwater Management Commission (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, which requires an emergency appropriation to allocate funds for expenditure.
* On October 6, 2016, the SMC approved the expenditure of $370,215 to purchase 3.842 acres of wetland mitigation credit at the Atkinson Road Wetland Mitigation Bank (North Branch of the Chicago River) in order to replace 2.58 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 $370,215 for such projects using Stormwater Management Wetland Restoration Fund Permit Fees - North Branch of the Chicago River; and,
WHEREAS, there are sufficient funds available in the Stormwater Management Commission's Deferred Revenue account 212-0000000-22300-000-000-000-42032 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 $370,215 in the Stormwater Management Commission's Miscellaneous Contractual Services 212-4208110-79940-000-000-000-42032 for the Purchase of 3.842-acres of Wetland Mitigation Credits at the Atkinson Road Wetland Mitigation Bank is hereby approved; and,
WHEREAS, there will be a $370,215 increase in the Revenue budget 212-4208110-48340-000-000-000-42032 which is t...
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