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City of Elgin
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January 29, 2009
RE: Resolution No. 07-252
Agreement with Land and Water Resources, Inc. for the purchase of wetlands credits at
the Elgin Shores Forest Preserve
To Whom It May Concern:
The document listed above was sent out for signatures to another entity and an executed copy
was never returned to the City Clerk's office for record retention. Attached is the un-executed
copy that was sent out for signature. Thank you.
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44-900•Duplicate
Resolution No. 07-252
RESOLUTION
AUTHORIZING EXECUTION OF AN AGREEMENT WITH
LAND AND WATER RESOURCES, INC.
(Elgin Shores Improvements)
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS,that
Olufemi Folarin, City Manager, be and is hereby authorized and directed to execute a lease
agreement on behalf of the City of Elgin with Land and Water Resources, Inc. for the purchase of
wetlands credits at the Elgin Shores Forest Preserve,a copy of which is attached hereto and made a
part hereof by reference.
s/Ed Schock
Ed Schock, Mayor
Presented: October 10, 2007
Adopted: October 10, 2007
Vote: Yeas: 7 Nays: 0
Attest:
s/Diane Robertson
Diane Robertson, City Clerk
AGREEMENT
THIS AGREEMENT made to become effective as of the 4th day of September, 2007 by
and between Land and Water Resources, Inc., an Illinois corporation (hereinafter "LAWR") and
City of Elgin (hereinafter"Buyer").
WHEREAS, the Chicago District of the Army Corps of Engineers (hereinafter "COE"),
United States Environmental Protection Agency, and United States Fish and Wildlife Services
(hereinafter collectively "Federal Regulatory Agencies") have entered into an Interagency
Coordination Agreement on Wetland Mitigation Banking Within the Regulatory Boundaries of
the Chicago District, Corps of Engineers (hereinafter "ICA") providing for the issuance of
general permits in northeast Illinois to establish wetland mitigation banks to mitigate for the
filling, flooding, excavating or draining of specific water of the United States; and
WHEREAS, Kane County has passed a stormwater Ordinance requiring mitigation for
wetlands not regulated by the Federal Regulatory Agencies. Kane County and the Federal
Regulatory Agencies will be collectively referred to as Regulatory Agencies; and
WHEREAS, said ICA and the Kane County Stormwater Ordinance both provide for the
issuance of permits to the general public in northeast Illinois and certification of wetland banks
owned by privately held Illinois corporations and authorization of the use of said mitigation
banks; and
WHEREAS, LAWR has received certification of a mitigation bank, mitigation site and/or
associated wetland assets in certain areas of northeast Illinois (hereinafter "LAWR Mitigation
Bank") in accordance with the ICA and the general permit issued in connection with said ICA
(hereinafter"General Permit"); and
WHEREAS, Buyer desires to commit to the purchase of wetland credits or off site
wetland mitigation (hereinafter "Credits") from the LAWR Mitigation Bank in accordance with
the terms of this Agreement;
NOW, THEREFORE, in consideration of the mutually binding covenants of the parties,
it is agreed as follows:
1. LAWR has constructed and will monitor the LAWR Mitigation Bank in
accordance with the terms of the ICA and General Permit.
. .
2. LAWR agrees to sell and Buyer agrees to purchase Credits as follows:
a. Price Per Acre: $ 70,000.00
b. Acres Impacted 0.197 acres
c. Ratio for certified credits 1 to 1
a*b*c Total Purchase Price: $ 13,790
Location: Ferson Creek Wetland Bank
It is understood and acknowledged that this Agreement constitutes an irrevocable commitment
by Buyer to purchase an irrevocable commitment by LAWR to sell credits for the number of
acres at the purchase prices set forth above.
3. Buyer acknowledges and understands that, in reliance upon Buyer's commitment
under this Agreement, LAWR has expended substantial sums in connection with the formation
and construction of the LAWR Mitigation Bank. As an inducement to LAWR to proceed, Buyer
shall pay to LAWR a non-refundable deposit of 20% of Total Purchase Price upon execution of
this Agreement. Said deposit shall be applied to the purchase price if the purchase of Credits by
Buyer as contemplated by this Agreement is consummated. If said purchase is not consummated
due to a default by Buyer, LAWR shall be free to retain said deposit as liquidated damages. In
the event of a default by LAWR, Buyer shall be entitled to the return of the Earnest Money.
4. Payment of the purchase price, less the deposit set forth above, shall be due and
owing upon notice from COE that COE has authorized Buyer's proposed activity in compliance
with the terms of the ICA (hereinafter"COE Approval Notice").
5. By execution of this Agreement, LAWR and Buyer agree to comply with all rules
and regulations of the regulatory bodies in connection with the Credits purchased pursuant to this
Agreement including, but not limited to, the rules and regulations of the Nationwide Permit
Program as promulgated by the COE. In addition, Buyer agrees to allow the COE or its
authorized representative to make periodic inspections at any time deemed necessary in order to
insure that the activity being performed under the authority granted to Buyer is in accordance
with the terms and conditions of COE rules, regulations and requirements.
6. For purposes of this Agreement, the Expiration Date shall be November 15, 2007.
7. The rights of Buyer under this Agreement shall not be assigned, conveyed,
transferred, pledged, encumbered or in any way restricted without prior written consent of
LAWR and, to the extent required under rules, regulations and policies then in effect, without
prior written approval of COE and other Regulatory Agencies.
. •
8. All notices to the parties pursuant to this Agreement shall be personally delivered,
sent by facsimile transmission or sent by certified mail, return receipt requested, to the following
address:
If to LAWR: Land and Water Resources, Inc.
9575 West Higgins Road, Suite 470
Rosemont, Illinois 60018
Attention: Mr. John H. Ryan
FAX: (847) 318-9793
Phone: 847-692-7170
If to Buyer: City of Elgin—Parks and Recreation Department
1900 Holmes Road
Elgin, Illinois 60123
Attention: Jeremy Helton
Phone: (847) 931-6788
FAX: (847) 931-5610
If any such notice is given by personal delivery, said notice shall be effective upon the date of
delivery. If any such notice is sent by facsimile transmission, said notice shall be effective as of
the first business day following proper transmission of said notice. If any such notice is sent by
certified mail, said notice shall be effective on the third business day following the date of
mailing. The parties may change the address to which notices are to be sent under this
Agreement by written notice to the other party.
9. This Agreement shall inure to the benefit of and be binding upon the parties and
their respective successors, representatives and permitted assigns.
IN WITNESS WHEREOF, the parties have executed this Agreement to become effective
as of the day and year first written above.
LAWR: BUYER:
LAND AND WATER RESOURCES, INC. City of Elgin
By: By:VAVar4t,,,,N_
John H. Ryan, President Title: Olu Fol.rin, City Manager
Project Name: Boat Ramp and Pier at Elgin Shores Forest Preserve
COE file# LCR-2006-1152