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The next section describes the actual practices currently in place including the current funding <br /> sources. <br /> Administration -The WEW Mitigation Bank MOA requires staff to administer the program. <br /> The tasks involved include: <br /> A.) Service to bank customers (responding to inquiries, developing contracts, <br /> etc.) <br /> B.) Fiscal Management (receiving revenue, paying expenses, etc.) <br /> C.) Coordination with regulatory agencies for approvals & transactions <br /> D.) Compiling and submitting an annual report to regulatory agencies <br /> E.) Hiring & supervising regular and seasonal staff <br /> F.) Administering contracts for planning,.construction, and technical support. <br /> G.) Land acquisition planning and implementation. <br /> Most of this service is currently provided by portions of three FTE in Public Works, including the <br /> Wetlands & Open Waterways Manager, the Wetlands Program Supervisor, and the Wetland <br /> Mitigation Bank Coordinator. There are additional staff from the organization that include an <br /> Accountant in Finance, Parks Maintenance workers, and support staff in the Parks & Open Space <br /> Division. <br /> Land Acquisition -Most mitigation bank sites in west Eugene are owned by BLM and acquired <br /> through purchases using Land & Water Conservation Funds. The cost of this land would <br /> typically be an expense in other situations but because of the unique circumstances in west <br /> Eugene, this is not a factor. However, if the bank had to purchase land, the cost in west Eugene <br /> ranges from $2000 per acre for exclusive farmland to $350,000 per acre for commercial zoned <br /> land fronting major street and arterial corridors. <br /> Planning - A site plan is required in order to receive regulatory approval to generate credits. <br /> The City has contracted with the Lane Council of Governments for this service through their local <br /> government planning section. A site plan for an average site (7 to 30 acres) which generates <br /> approximately 5 to 15 credits would cost approximately $15,000-20,000. <br /> Holding Period -Several years may elapse between the acquisition or planning phase and the <br /> actual construction implementation. During this time; sites need to be maintained in order to <br /> prevent deterioration of conditions, such as major weed infestations. These expenses are not <br /> currently part of the City's cost recovery for the bank. Additionally,-this is an area that has not <br /> received much attention and some sites have had an expansion of invasive species during the <br /> holding period. The recommendation at the end of this paper to increase the price per credit will <br /> assist in covering these costs. <br /> Construction - A site must be restored (if it is no longer wetland) or enhanced (if it is existing <br /> wetland) in order to generate a credit. A third option exists which is to create a wetland where <br /> <br /> there was previously no wetland however this option is the least favorable due to low success and <br /> therefore it is not common in the WEW Mitigation Bank. One example of a project involving <br /> <br />