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APPROVING A THORN CREEK HEADWATERS PRESERVE WETLAND AND STREAM MITIGATION BANK CREDIT PURCHASE AGREEMENT WITH V3 WETLAND RESTORATION, LLC OF WOODRIDGE, ILLINOIS FOR KIRK ROAD OVER THE UNION PACIFIC RAILROAD BRIDGE REPLACEMENT, KANE COUNTY SECTION NO. 12-00192-04-BR
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WHEREAS, it is deemed to be in the best interest of the County of Kane and the motoring public to undertake the Kirk Road over Union Pacific Railroad Bridge Replacement Project (hereinafter the "Improvement"); and
WHEREAS, approximately 0.96 acres of existing wetlands and 138 linear feet of stream will be disturbed by the construction of the Improvement; and
WHEREAS, in order to mitigate the impact of the disturbed wetlands, the US Army Corp of Engineers' (USACE) requires the replacement of the 0.96 acres of disturbed wetlands and 138 linear feet of stream with 2.7 acres of new wetland (hereinafter the "wetland credit") to be purchased from a USACE approved wetland mitigation bank; and
WHEREAS, V3 Wetland Restoration, LLC, ("V3") operates an USACE approved wetland mitigation bank, with at least 2.7 acres of available wetland credits appropriate for the mitigation of wetland impacts caused by the Improvement, which V3 desires to sell and the County desires to purchase, for an amount not to exceed Six Hundred Thirty Seven Thousand Two Hundred Dollars ($637,200.00) as set forth in the Thorn Creek Headwaters Preserve Wetland and Stream Mitigation Bank Credit Purchase Agreement (on file in the office of the County Clerk).
NOW, THEREFORE, BE IT RESOLVED by the Kane County Board that the Thorn Creek Headwaters Preserve Wetland and Stream Mitigation Bank Credit Purchase Agreement is hereby approved, and the Chairman thereof is hereby authorized to execute an agreement with V3 Wetland Restoration, LLC, for the purchase of the wetland credit as mitigation for the disturbed wetlands caused by the construction of the Improvement.
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