Item Description:
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Authorize the Hennepin County Tree Credits project; Approve Agmt A2311694 with Green Minneapolis and Agmt A2311695 with Green Minneapolis and City Forest Credits to implement the tree credits project, total est. receivable $125,000, various periods
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Resolution:
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BE IT RESOLVED, that Hennepin County Tree Credits, a forestry carbon offsets sales project be authorized; and
BE IT FURTHER RESOLVED, that the County Administrator be authorized to negotiate Agreement A2311694 with Green Minneapolis to collaborate on the tree credits project, define roles and obligations of the two organizations, and establish the process for the deduction of fees due to City Forest Credits and Green Minneapolis from offsets sales proceeds and the acceptance and use of proceeds by Hennepin County from the carbon offsets sales based on market-price, during the period May 16, 2023 through December 31, 2050; and that the controller be authorized to accept and disburse funds as directed; and
BE IT FURTHER RESOLVED, that the County Administrator be authorized to negotiate Agreement A2311695 with Green Minneapolis and City Forest Credits to implement the Tree Credits project and to establish roles and responsibilities of the three organizations for the project, during the period May 16, 2023 through November 3, 2048; and
BE IT FURTHER RESOLVED, that upon review and approval by the County Attorney's Office, the Chair of the Board be authorized to sign both agreements on behalf of the County; that the County Administrator be authorized to approve one 12-month extension to either or both agreements.
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Background:
In April 2021, Hennepin County adopted ambitious greenhouse gas emissions reductions goals - reduce emissions 45% from 2010 levels by 2030 and achieve net zero carbon emissions by 2050 (Resolution 21-0111S1).
Trees play an important role in fighting climate change and getting to net zero carbon emissions. Net zero carbon emissions is achieved b...
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