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Credit Purchase Summary <br />City of Eugene Contract 2010-05419 <br />Buyer: Patrick Cox, Project Manager GJN 463 5, Eugene Public Works Engineering <br />DATED: Apri12, 2010 <br />A. City has a Memorandum of Agreement with the U.S. Army Corps of Engineers (Corps), U.S. <br />Environmental Protection Agency (EPA), U.S. Fish and Wildlife Service (USFWS), U.S. Bureau <br />of Land Management (BLM), Oregon Deparhnent of Lands (ODSL), and Oregon Department of <br />Environmental Quality (ODEQ) to establish a comprehensive mitigation banking program to <br />implement the west Eugene Wetlands Plan. <br />B. The Bank is currently charging $78,920 per mitigation credit, to recover the City's cost of <br />developing and maintaining mitigation wetlands., <br />C. The Corps is requiring mitigation far 3.70 acres on Tax Lot 700 Assessor's Map No. 17-04-07-00, <br />~"Subject Property"} located at the City of Eugene Airport. <br />DSL is not taking jurisdiction as the site is a farmer excavation site constructed from upland for the <br />purpose of mineral extraction and thus specifically exempt from state permit requirements. <br />D. Project will fi113.7 acre in three phases. Phase one will fi110.72 acres of wetland, Phase 2 and 3 will <br />be 1.59 and 1.39 credits respectively. <br />E. Under the permit #NPW-1999-157518, dated Dctober 28, 2009 issued by Corps, Airport is responsible <br />for securing 0.72 wetland mitigation bank credits. <br />AGREEMENT <br />1. Developer will pay City the amount of $ 56, 822.00 for mitigation credits. <br />2. After receipt of payment, City will notify Corps that Airport's Phase 1 obligation for wetlands <br />mitigation has been met, and the City will allocate 0.72 credits from completed or approved wetlands <br />mitigation projects to meet the mitigation obligation covered by this Agreement. <br />