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HomeMy WebLinkAboutBPM 052018 Minutes BEAR POINT MITIGATION BANK MANAGEMENT COMMITTEE MINUTES MAY 21, 2018 MEETING Members Present: Glenn Henderson, Leslie Olson, Mark Satterlee, and Heather Young Others Present: Lauri Heistermann and Freda Posin (by phone) The meeting was called to order at 2:11 p.m. by Mr. Henderson, Chair, in the County Attorney’s Small Conference Room, 2300 Virginia Avenue, Fort Pierce, Florida. Following roll call, it was determined a quorum was present. Public comment was requested. There was no public comment. Mr. Henderson informed the Committee of recent issues involving the resale of credits by Indian River Mitigation Partners. In these instances, it appeared the buyers were not fully aware of the documentation and procedures necessary for the credits to be debited from the DEP ledger. Ms. Heistermann relayed the history of the credit purchase and resales. Ms. Posin informed the Committee that there is a growing market for one/hundredth of a credit sales for single family residences and other small projects. These smaller increment credit sales are sold based on the percentage of the full credit price. Following discussion by the Committee, Mr. Satterlee made the following motion: 1. A letter be sent to Indian River Mitigation Partners outlining the steps for debiting the credits, including an acknowledgement to be signed by the buyer and returned to the County to insure buyers of resale credits are fully aware of the requirements for use of the credits. 2. Increase the availability of Bank credits by providing for the direct sale of credits in the one/hundredth increments at a price of one/hundredth of the full credit price. 3. Create a webpage and link to better market the Bank’s remaining credits. The motion was seconded by Ms. Olson. The motion was approved by a vote of 4-0. Mr. Satterlee left meeting following the vote on the motion to attend another meeting. The Committee then discussed the new sign for the mitigation bank. Ms. Posin will draft proposed language for the sign which will be provided to the Committee to review prior to the next meeting on June 20, 2018. There being no further business, the meeting was adjourned at 2:42 p.m.