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Mr. Gordon reviewed a wetland designation overlay map and stressed the impact of wetlands on <br />the industrial supply. <br /> <br />Mr. Gordon noted ownership patterns in the plan area and pointed out the property owned by the <br />BLM and the City's other partner in the program, The Nature Conservancy. He said that the <br />remaining parcels the partnership wished to acquire were among the most expensive land in the <br />plan area. <br /> <br />Mr. Gordon discussed the wetlands mitigation bank program and reviewed projects completed by <br />the bank. <br /> <br />Mr. Gordon discussed the impact of the supplemental inventory required by the regulatory <br />agencies on the plan amendments process. <br /> <br />Mr. Gordon said that at the time the plan was adopted there were no wetlands identified in the <br />Willow Creek area. Since that time, many wetlands had been adopted in the area, and the three <br />remaining special light industrial sites left in West Eugene were all impacted by the inventory. <br /> <br />Mr. Gordon concluded that, largely, the plan had been implemented in a calm and rationale <br />manner. He said that the plan was working well and the partnership was unique to Eugene, with <br />a significant investment in land. Staff had worked through two administrations and many different <br />rule changes. <br /> <br />Ms. Nathanson asked Mr. Gordon to explain the difference between the mitigation bank and <br />assistance program such as the enterprise zone. Mr. Gordon explained the mitigation bank <br />program, stressing their was no subsidy involved. The bank created restoration, received credits <br />from the regulatory agencies, and sold those credits to developers at the cost of $30,000 per <br />acre to satisfy their <br />mitigation needs. The bank then monitors and maintains the mitigated area. Mr. Gordon said <br />that the bank was working very well, and the restoration projects that had been done were very <br />successful. The most pristine wetlands could be saved. <br /> <br />The meeting adjourned at 5:58 p.m. <br /> <br />Respectfully submitted, <br /> <br />Warren Wong <br />Acting City Manager Pro Tern <br /> <br />(Recorded by Kimberly Young) <br /> <br />MINUTES--Eugene City Council February 18, 1998 Page 2 <br />5:30 p.m. <br /> <br /> <br />