BOARD AGENDA MEMORANDUM
SUBJECT:
Title
Memorandum of Understanding and Standby Letter of Credit with U.S. Army Corps of Engineer; Conservation Easement Monitoring Funding Agreement for $350,000 with the Land Trust of Santa Clara Valley; Mitigation Conservation Easement Deed for the Lake Silveira Compensatory Mitigation Preserve; and Open Space/Recreation Conservation Easement Deed to County of Santa Clara and City of Morgan Hill for the Upper Llagas Creek Flood Protection Project, Project No. 26174051, (Morgan Hill) (District No.1).
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RECOMMENDATION:
Recommendation
A. Authorize the Chief Executive Officer (CEO) to negotiate and execute the Memorandum of Understanding (MOU) with the U.S. Army Corps of Engineers (USACE) to ensure long term protection and financial assurance for the Lake Silveira Compensatory Mitigation Preserve;
B. Authorize the CEO to negotiate and execute any standby Letter of Credit agreements in the future to comply with the MOU requirements;
C. Authorize the CEO to negotiate and execute the Conservation Easement Monitoring Funding Agreement in the amount of $350,000 with the Land Trust of Santa Clara Valley, a California non-profit corporation, for perpetual duties and obligations as the Conservation Easement Holder in accordance with the Conservation Easement Management Plan for the Lake Silveira Compensatory Mitigation Preserve;
D. Authorize the CEO to execute and grant a Mitigation Conservation Easement Deed for the Lake Silveira Compensatory Mitigation Preserve (15.993? acres), Real Estate File No. 5010-229.1 to the Land Trust of Santa Clara Valley for the Project; and
E. Authorize the CEO to execute and grant an Open Space/Recreation Conservation Easement Deed (Real Estate File Nos. 5010-229.2 and 5010-244.1) to County of Santa Clara and City of Morgan Hill, subordinate to the Mitigation Conservation Easement Deed.
Body
SUMMARY:
The Santa Clara Valley Water District (Valley Water) is undertaking the Upper Llagas Creek Flood...
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