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APPROVING A CONTRACT FOR PURCHASE OF WETLAND MITIGATION CREDITS WITH V3 WETLAND RESTORATION, LLC OF WOODRIDGE, ILLINOIS FOR BUNKER ROAD EXTENSION, KANE COUNTY SECTION NO. 14-00275-01-PV
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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 a project to extend Bunker Road (hereinafter the "Improvement"); and
WHEREAS, approximately 1.367 acres of existing wetlands 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 1.367 acres of disturbed wetlands by the County of with 2.05 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 2.05 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 Three Hundred Forty Eight Thousand Five Hundred Dollars ($348,500.00) as set forth in the Wetland Credit Purchase Agreement (on file in the office of the County Clerk).
NOW, THEREFORE, BE IT RESOLVED by the Kane County Board that the Wetland 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 credits for the mitigation of disturbed wetlands caused by the construction of the Improvement.
BE IT FURTHER RESOLVED that the Kane County Board appropriates a not to exceed sum of Three Hundred Forty Eight Thousand Five Hundred Dollars ($348,500.00) to pay for said wetland credits and that said funds be paid from Central Impact Fee Fund #559, Line Item #73000 Road Construc...
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