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Home My WebLink About2007-404 r � DG7 - 70 j , MARY-A MITIGATION BANK CREDIT RESERVATION AND PURCHASE AGREEMENT THE MARY-A II , LLC , a Florida limited liability company, the owner of the land which derives the Mary -A Mitigation Bank (hereinafter referred to as "Seller") does hereby reserve and set aside for future assignment for the sole benefit of Indian River County, Florida hereinafter referred to as "Buyer"), a total of up to One-tenth ( 1 / 10) (to the nearest tenth of a credit) mitigation bank credit(s) issued to Seller' s Mary-A Mitigation Bank pursuant to Seller' s mitigation banking permit from the St. Johns River Water Management District (SJRWMD Permit Number 4-009- 15931 -6) . This reservation is for use of credits in connection with mitigating adverse wetland impacts which may arise as a result of construction or other projects undertaken or to be undertaken by the Buyer (ERP Permit Application Number (40-061 - 105954- I ) . Seller warrants that it will take no action inconsistent with the reservation and future assignment described herein . At such time that the credits are to be issued for a specified project, Seller agrees to make formal assignment of the credits by sending notice to the appropriate environmental regulatory agencies as set forth hereinbelow. Seller warrants that the mitigation credits reserved herein are and will be available for future assignment to Buyer for application to future projects. Seller is committed to transfer to Buyer up to One-tenth 1 / 10) (to the nearest tenth of a credit) mitigation bank credits from its mitigation bank in Brevard County for use in offsetting wetland impacts, if full payment is made within 180 days from receipt of a deposit equal to 10% of the purchase price. The purchase price for One-tenth ( 1 /10) credits is Three thousand five hundred Dollars ($3 , 500 . 00) (hereinafter referred to as the "Purchase Price") and the required deposit is Three hundred fifty Dollars ($ 350 .00 ). If the Buyer' s environmental permits authorize the use of less than One-tenth ( 1 / 10) credits, the purchase price shall be re-calculated according to the following price schedule: The per-credit price established for St. Johns River Water Management District Planning Units 20 and 22 is Thirty-five Thousand and No/ 100 Dollars ($ 35 ,000 . 00). Upon receipt of the deposit, Seller will send a Notice of Credit Reservation to Buyer. Upon receipt of the total Purchase Price for the credits, Seller will send a Request for Withdrawal of Mitigation Credits to SJRWMD requesting SJRWMD to withdraw the specified credits from the Mary-A Mitigation Bank upon its approval of the Buyer' s permit. The deposit is refundable at a pro-rated interval which fully expires 150 days from the date the deposit is received. The pro-rated interval terms are as follows: 50% of the deposit shall be refundable within the first 30 days; 40% of the deposit shall be refundable within 60 days ; 30% of the deposit shall be refundable within 90 days; 20% of the deposit shall be refundable within 120 days; 10% of the deposit shall be refundable within 150 days; and 0% of the deposit shall be refundable thereafter. No refund will be available upon expiration of the 150-day time interval . However, an extension to reserve the credits for an additional 180 days may be acceptable if the credits are still available and an additional deposit of 10% of the purchase price is paid. The balance of the credit Purchase Price shall be due prior to the issuance of the Buyer' s permits to use the mitigation bank credits to offset wetland impacts or by the end of the 180 day credit reservation period, whichever comes first (subject to the right of Buyer to extend the 180 day credit reservation period provided for in the immediately preceding sentence) . Failure by Buyer to close the purchase within the time stated shall be a default of this Agreement, permitting forfeiture to Seller of the deposit paid and termination of this Agreement by Seller. Payment shall be made to Dean Mead et al . (R. Mason Blake, Esq . ) , as Escrow Agent for The Mary-A II, LLC, and sent to 8240 Devereux Drive, Suite 100 Viera, Florida, 32940. Buyer: Seller: INDIAN RIVER COUNTY, FLORIDA MARY-A II , LLC BOARD OF COUNTY COM ISSIONERS seph A. Baird �✓ ty dmi is�ator r J it iam G . ollins, I County Attorney Executed: V00623340 2 Mary 9 N itigation Bank Page 1 of 1 Mary Mitigation Bank Home The Mitigation Site The Facts Click map to zoom. The Benefits - , A The Mitigation Site �. Credit Reservation ORANGE Contact B. K .I ., Inc . _ _ _ _ _ " _ ' _ __ _—_ _ _ _ Consulting Ecologists , i LoSonJ M qq � � � } Yb �� i , I14 s ,� f •f ' _ j OSCClI ® 6mir. 2$ x} , srra ''�r�F+'Siu a 4' i1 �. L�ti i: Si4fif1 !a4'f}�: dR� Il, f 6"y up�y e 0 Mai "( 1f�F M1(yS�J 'l mitigation Rankdin " fl µ a F . A � k l ��I t L �"• lTi'T t fr•" �z�. 14 y b } + aa ly a i OKEECHORFE n� STLUCIE ,� Helpful Links: DEP I SIINYID S1N '.) \ I ) 'c: _ixvi Nan AN I i I iGi lion !tu A - 11 /21 /2007 giVE/P Board of County Commissioners q 180127th Street i Vero Beach, Florida 32960 it iF Telephone: (772) 567-8000 �LOR19Q' FAX,• 772- 778-9391 LETTER OF TRANSMITTAL DATE : January 16, 2008 TO : Clerk to the Board FROM: Jill Williams REFERENCE : 39th Avenue, IRC Project 0425 QTY DESCRIPTION 1 Mary-A Mitigation Bank Credit Reservation & Purchase Agreement Original COMMENTS : Also attached is Administrator's Approval memo dated 11/20/07. If there are any questions, please contact me at (772) 226-1380. cc: File F:Tngineering\Capital Projects\0425 39 Ave. 69 St to 71 St\CorrespondenceTOT Clerk of Court Cert Mary A Mitigation Originals 01 - 16- 08. doc f INDIAN RIVER COLN' tY, FLORIDA MEMORANDUM TO : Joseph A. Baird , roun+ll 4dmm ,StraL. , � - THROUGH : James W . Davis , P . E . ; Public Works Directo FROM : Michael D . Nixon , P . E . , Roadway Production Managereteel� SUBJECT : 39 Avenue Paving , IRC Project # 0425 Mary-A Mitigation Bank Credit Reservation and Purchase Agreement DATE : November 20 , 2007 ADMINISTRATIVE APPROVAL The 39th Avenue Paving Project is located between 69th Street and 71St Street . The paving of this road is necessary in order to close the Florida East Coast Railway (FECRR) crossing at 715` Street that will allow a bypass to 69th Street. Through an agreement with The FECRR, closing the 71St Street crossing will allow the county to construct a new rail road crossing at 53rd Street necessary for the 53`d Street Four Laning Project currently under design . Because of wetland issues within the 39th Avenue Paving Project; wetland mitigation is required within the Wabasso Scrub area . In addition to this , the St. Johns River Water Management District is requiring the County to purchased 0 . 1 acre of mitigation bank within the Mary-A Mitigation Bank in Brevard County locaterjust north of the IRC County line near CR 507 (Babcock Street) . Staff is requesting the County Administrator to execute the agreement and authorize funding in the amount of $ 3 , 500 . 00 for the purchase of the 0 . 1 acre in the Mary-A Mitigation Bank. RECOMMENDATION Staff recommends approval of the attached Mary-A Mitigation Bank Credit Reservation and Purchasing Agreement for mitigation requirements for the 39th Avenue Paving Project in the amount of $ 3 , 500 . 00 . FUNDING Funds for this project in the amount of $ 3 , 500 . 00 are budgeted and available from Account Number 10215241-066120-02025 . ATTACHMENTS Mary-A Mitigation Bank Credit Reservation and Purchasing Agreement F:1Engineering\CapiW Projects10425 39 Ave. 69 St to 71 St�BCMD425 BCC Mary-A Mitigation Bank11-20-07.doc PAGE TWO 39 Avenue Paving Mary-A Mitigation Bank Credit Reservation and Purchase Agreement November 20 ; 2007 DISTRIBUTION George Kulczycki ; CES CEf , G . K . Environmental , Inc . James W Davis , P . E . ; Public Works Director Christopher J Kafer, Jr. , P . E. , County Engineer Indian River Approved Date County Bud st ^ 18 T7 Le al / IJZ �c Risk Management r Public Works Cd . En ineenn „ _ zE- oi F:1BngineeringlCapita! Projects10425 39 Ave. 69 St to 71 St1BCC10425 BCC Mary-A Mitigation Bankl i-20-07.doc MARY-A MITIGATION BANK CREDIT RESERVATION AND PURCHASE AGREEMENT THE MARY-A II, LLC, a Florida limited liability company, the owner of the land which derives the Mary-A Mitigation Bank (hereinafter referred to as "Seller") does hereby reserve and set aside for future assignment for the sole benefit of Indian River County Florida hereinafter referred to as "Buyer"), atotal of up to One-tenthi /10 (to the nearest tenth of a credit) mitigation bank credit(s) issued to Seller 's Mary-A Mitigation Bank pursuant to Seller's mitigation banking permit from the St. Johns River Water Management District (SJRWMD Permit Number 4009- 15931 -6). This reservation is for use of credits in connection with mitigating adverse wetland impacts which may arise as a result of construction or other projects undertaken or to be undertaken by the Buyer (ERP Permit Application Number (40-061 - 105954-1 ). Seller warrants that it will take no action inconsistent with the reservation and future assignment described herein. At such time that the credits are to be issued for a specified project, Seller agrees to make formal assignment of the credits by sending notice to the appropriate environmental regulatory agencies as set forth bereinbelow. Seller warrants that the mitigation credits reserved herein are and will be available for future assignment to Buyer for application to fume projects . Seller is committed to transfer to Buyer up to One-tenth U10 (to the nearest tenth of a credit) mitigation bank credits from its mitigation bank in Brevard County for use in offsetting wetland impacts, if full payment is made within 180 days from receipt of a deposit equal to 10% of the purchase price. The purchase price for One-tenth 1 !10) credits is Three thousand five hundred Dollars $3.500.00) (hereinafter referred to as the "Purchase Price") and the required deposit is Three hundred Dollars ($ 350. 00 ). If the Buyer's environmental permits authorize the use of less than One-tenth ( 1(10) credits, the purchase price shall be re-calculated according to the following price schedule: The per-credit price established for St. Johns River Water Management District Planning Units 20 and 22 is Thirty-five Thousand and No/100 Dollars (S35,000.00) . Upon receipt of the deposit, Seller will send a Notice of Credit Reservation to Buver. Upon receipt of the total Purchase Price for the credits, Seller will send a Request for Withdrawal Of Mitigation Credits to SJRVJMD requesting SJRWMD to withdraw the specified credits from the Mary ok Mitigation Bank upon its approval of the Buyer' s permit. The deposit is refundable at a pro-rated interval which fully expires 150 days from the date the deposit is received. The pro-rated interval terms are as follows : 50% of the deposit shall be refundable within the fust 30 days; 40% of the deposit shall be refundable within 60 days; 30% of the deposit shall be refundable within 90 days; 20% of the deposit shall be refundable within 120 days; 10% of the deposit shall be refundable within 150 days; and 0% of the deposit shall be refundable thereafter. No refund will be available upon expiration of the 150-day time interval. However, an extension to reserve the credits for an additional 180 days may be acceptable if the credits are still available and an additional deposit of 10% of the purchase price is paid. The balance of the credit Purchase Price shall be due prior to the issuance of the Buver' s permits to use the mitigation bank credits to offset wetland impacts or by the end of the 180 day xedu reservation period, whichever comes first (subject to the right of Buyer to extend the 180 day credit reservation period provided for in the immediately preceding sentence). Failure by Buyer to close the purchase within the time stated shall be a default of this Agreement, permitting forf iture to S eller of the deposit paid and termination of this Agreement by Seller. Payment shall be made to Dean Mead et al . (R. Mason Blake, Esq.), as Escrow Agent for The Mary-A II, LLC, and sent to 8240 Devereux Drive, Suite 100 Viera, Florida, 32940 . Buyer: Seller: INDIAN RIFER COUNTY, FLORIDA MARY-A II, LLC BOARD OF COUNTY COMMISSIONERS Joseph A. Baird Cou ty Administr zz � z ti ' William G. Co lois. Ji County Attorney Executed: V0062334VI 2 . a f ® t PY ' i q � j. 2�� Q�frl Yy �4 S�` Q�li ' -+ �r1S'��:k� •(� i y� 44 G [�1 ''`• Lll 1 i� 0� D • 0 • • tiNEl2 ( "' Vendor $h8cx . `"', Check -(� ' �. Number Date " Number 6312051670 o Board County Commissloners 35366 72/13/2007 208406 PillState' of FloYicJa - COUhty of IndianrRiver, Pi: ' 1 .801 27th Stregt, Bldg A - - +� ,. Varo Beach, Ffgride'32960 loa y 3,500.00 Pay.. * **,**3;800 DOLLARS AND NO CENTS Ordeer Ot • ' DEAN MEAD ET AL(R MASON BLAKE ESQ) .�..„, Bl ESCROW AGT FOR MARY q II, LLC ” MP Chairman 8240VIEREAUX OR STE 100 8240 DEVER ' a FL 32940a 1ft Clerk o the Circuit Court and Comptroller •ndian River 4 P to �, National Berk II' 2084061i' i : 06701205Oi8930170Ill, ; 4 4d1'S .=. :'9 3 �A`ii5-r?.s1. ; � ';if 1112$/07 39TH-AV- PAVI ; 282157 IRC#0425/39TH AVE- PURCHAS 3, 500 . 00 RNLSaLS..AI a P'*G t," Mr s - 35366 EAN MEAD ET AL(R MASON BLAKE ESQ 208406 , 12/13/2007 3 , 500.00