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Agreement to Purchase Coyote Prairie North Wetland Mitigation Credit <br /> City of Eugene Contract 2021-05405 <br /> BETWEEN: The City of Eugene, an Oregon Municipal Corporation (City) <br /> AND: John Smith (Buyer) <br /> DATED: September 14, 2020 <br /> RECITALS <br /> A. City has established a Mitigation Bank Instrument dated June 22, 2011 in agreement with the U.S. <br /> Army Corps of Engineers (USACE) and Oregon Department of State Lands (DSL), which describes the <br /> establishment, use, operation, maintenance, and long-term management of the Coyote Prairie <br /> North Wetland Mitigation Bank. <br /> B. It has been mutually agreed between USACE, DSL, and the City that compensatory wetland <br /> mitigation requirements for proposed impacts from the Tuscany Hills Estates project located at, <br /> 44.6551° Latitude and --123.1387° Longitude and 3118 Gibson Hill Road NW in Albany, Benton <br /> County, Oregon can be satisfied through the purchase of wetland mitigation credit from the Coyote <br /> Prairie North Wetland Mitigation Bank. <br /> C. Under permits to be issued for DSL application number 62696 Revised and USACE Action ID Number <br /> NWP-2020-226 the Buyer is responsible for securing 1.69 wetland mitigation credits. <br /> D. Buyer desires to purchase 1.69 wetland mitigation credit from the City's Coyote Prairie North <br /> Wetland Mitigation Bank. <br /> E. City is currently charging $62,540.00 per mitigation credit to recover City's cost of developing and <br /> maintaining mitigation wetlands. <br /> AGREEMENT <br /> 1. This Agreement to Purchase Wetland Mitigation Credits shall begin on the date of execution by all <br /> parties and shall remain in effect for 30 days. <br /> 2. Buyer bears all risk and responsibility associated with delays related to permitting, financing, or <br /> other issues that may impact timely full payment of funds to City. <br /> 3. Buyer agrees to provide funds to the City in the total amount of$105,692.60 within 30 days of <br /> execution of this Agreement for the purchase of 1.69 mitigation credit and remit payment to City of <br /> Eugene at 1820 Roosevelt Boulevard, Eugene, OR 97402, Attn: Wetland Mitigation Bank. <br /> 4. After receipt and deposit of full payment to the City, the City will notify USACE and DSL that the <br />