HomeMy WebLinkAbout06-24-10-2g - Resolution - 06/24/2010RESOLUTION NO. 06-24-10-2p,
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS, AUTHORIZING THE PAYMENT OF A DEPOSIT ON 22 MITIGATION CREDITS
IN THE STEELE CREEK MITIGATION BANK, ROBERTSON COUNTY, TEXAS,
THROUGH OXBOW INVESTMENTS INC, AS REQUIRED PURSUANT TO THE
MITIGATION PLAN FOR UNITED STATES ARMY CORPS OF ENGINEERS
APPLICATION NO. 200100239 FOR THE TWIN OAKS LANDFILL PROJECT IN GRIMES
COUNTY, TEXAS.
WHEREAS, in October, 2005, the City Council approved an engineering contract with HDR
Engineering, Inc. for the final design of the Twin Oaks Landfill Project, and in October 2008,
approved a construction contract with C. Watts and Sons Construction Co., Inc. for future phases
of construction at the Twin Oaks Landfill Project, in western Grimes County, Texas; and
WHEREAS, at the time construction was to proceed, a United States Army Corps of Engineers
Section 404 Permit No. 200100239 was required including an approved mitigation plan requiring the
acquisition and conveyance of a conservation easement; and
WHEREAS, the United States Army Corps of Engineers has approved and accepted the City's
submitted revised mitigation plan to purchase the remaining 22 Mitigation Credits in the Steele
Creek Mitigation Bank in Robertson County, Texas, in lieu of off -site mitigation through the
acquisition and conveyance of a conservation easement; therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS:
PART 1: That the City Council hereby finds that the purchase of the remaining 22 Mitigation
Credits in the Steele Creek Mitigation Bank in Robertson County, Texas, is the only
reasonable alternative to off -site mitigation through the acquisition and conveyance
of a conservation easement.
PART 2: That the City Council hereby approves the payment of a deposit for 22 Mitigation
Credits in the Steele Creek Mitigation Bank in Robertson County, Texas, through
OXBOW Investments, Inc. as part of the Twin Oaks Landfill Project.
PART 3: That the City Council authorizes the Mitigation Credit Payment of $318,775.00 to
OXBOW Investments, Inc for said 22 Mitigation Credits.
PART 4: That the funding for the Mitigation Payment shall be budgeted from the Brazos
Valley Solid Waste Management Agency Capital Improvement Projects Fund in the
amount of $318,775.00.
PART 5: That this resolution shall take effect immediately from and after its passage.
Resolution No. 06-24-10-2g
ADOPTED this 24th day of June . A.D. 2010.
ATTEST: APPROVED:
City Secretary Mayor
APPROVED:
Cc, iat 16 D9-1/\
City Attorney
Resolution No. 06-24-10-2g
INVOICE OXBOW Investments Inc.
160 Lexington Sq
Carrollton, Virginia 23314
Date: 09 June 2010
Invoice #100309 — Final
Terms: Payment due upon receipt
Sold To: City of College Station
Transaction Description:
• Client originally needed between 30-43 wetland mitigation credits from the Steele
Creek Mitigation Bank. Client paid 15% of 43 credits (43 credits x $20,500 per
credit = $881,500 x .15 = $132,225)
• 15% down held the credits for 6 months from the original invoice date. This gave
the environmental company and the Corps plenty of time to resolve the number of
credits actually required for the project. This also allowed credits to be "set
aside" for the project and ensure it was not held up by mitigation credit needs.
• All of the 15% originally paid is now applied to the total purchase price for 22.0
credits as detailed in the permit.
• 22.0 credits X $20,500 per credit = $451,000
• $451,000 — $132,225 = $318,775
PLEASE PAY THIS AMOUNT: $318,775
MAKE CHECK P A V A BLE TO:
OXBOW Investments Inc.
160 Lexington Sq
Carrollton, Virginia 23314