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<br />________________________________________________________________________________________________________ <br /> Page 24 of 27 <br /> <br />Grant Objective 3 <br />The City of Everett will assess the viability of a wetland mitigation bank and/or a fee in lieu <br />program for projects in Everett that require mitigation for impacts to water resources. A <br />successful wetland mitigation bank will concentrate the impacts of mitigation to support Salmon <br />Recovery Plans. <br />With the support of an environmental consultant, Everett will assess the need for such a program, <br />develop and analyze options, and propose changes to regulations and administrative processes. <br />The city will finalize and submit to the Department of Commerce the deliverables of Grant <br />Objective 3 by the deadline of June 15, 2027. <br />Grant Objective 3: Develop a wetland mitigation bank and/or fee in lieu program for projects <br />that require mitigation for impacts to water resources. <br />Action 8 Hire an environmental consultant to assess the <br />viability for a mitigation bank or fee in lieu program <br />for the Lake Washington Water Resource Inventory <br />Area (WRIA) <br />July 1, 2025 August 29, <br />2025 <br />Step 8.1 Prepare a request for proposals or other consultant <br />procurement mechanism, including review by the <br />Department of Commerce <br />July 1, 2025 August 29, <br />2025 <br />Step 8.2 Conduct procurement process July 1, 2025 August 29, <br />2025 <br />Step 8.3 Finalize consultant contract September 1, <br />2025 <br />October 3, <br />2025 <br />Deliverable <br />8 <br />Request for proposals or other consultant <br />procurement mechanism and executed consultant <br />contract <br /> <br />October 3, <br />2025 <br />Action 9 Assess the regulatory framework, presence and <br />capacity of existing mitigation banks, recent use of <br />mitigation banks, and future development potential <br />adjacent to streams, wetlands, and their buffers. <br />October 3, <br />2025 <br />June 13, 2026 <br />Step 9.1 Assess existing plans, recent use of mitigation banks, <br />and future development potential adjacent to streams, <br />wetlands, and their buffers. <br />October 3, <br />2025 <br />January 30, <br />2025 <br />Docusign Envelope ID: 59790314-4A8A-45DB-8130-00ABDE3419DF