HomeMy WebLinkAboutBPMC022017BackupBear Point Mitigation Bank Credit Purchase/Reservation Procedure
A request in writing is required to initiate agreements for Bear Point Mitigation Bank credits.
The following information must be included in the written request:
The number of credits being requested (credits are sold/reserved in tenths of a unit only)
If the credit is being purchased or reserved
The type of credit being requested (State, Federal or Dual)
Project name
Once the request is received, it will be forwarded to the County Attorney’s Office to initiate a Purchase/Reservation Agreement.
Once completed the Purchase/Reservation agreement will be sent to the requestor for execution. Four (4) original agreements will be required to be submitted to the County Attorney’s
Office, with payment, for final execution and Board of County Commissioner’s approval.
The payment calculations are as follows:
Purchase Price
Dual Credits - $16,000.00/tenth of a credit
Federal or State Credits - $12,000.00/tenth of a credit
Reservation Price
Dual Credits - $4,000.00/tenth of a credit
Federal or State Credits - $3,000.00/tenth of a credit
The purchase price is based on the annual appraised value, which is currently $160,000.00. The reservation price is 25% of the total cost of the credit.
Once the agreement has been fully executed, and approved by the Board of County Commissioners or the County Administrator, the agreement will be issued a contract number and a fully
executed copy will be forwarded to the requestor.
The requestor should submit copies of the applicable state and/or federal permits to the Mosquito Control & Coastal Management Services Department to debit the appropriate ledgers.
The permitting agencies will consider the mitigation requirement complete once the agencies ledger(s) have been debited.
Updated 1/19/17