P
etersen Ranch Mitigation Bank 1 Exhibit F-2 Version Date: 12-14-2018
AGREEMENT FOR SALE OF CREDITS
USACE FILE NO. SPL-2024-00241
CDFW FILE NO. EPIMS-LAN-48972-R5
RWQCB FILE NO. 24-064
This Agreement is entered into this day of , 2024, by and between the Land Veritas Corp. (Bank Sponsor) and City of Santa Clarita (Project Proponent), jointly referred to as the “Parties,” as follows:
RECITALS
A. The Bank Sponsor has developed the Petersen Ranch Mitigation Bank (Bank) located in Los Angeles County, California; and
B. The Bank has been developed pursuant to a Bank Enabling Instrument (BEI) entered into by and between Bank Sponsor, LV -BP Investors Ranch, LLC, LV Lake Elizabeth, LLC (jointly “Property Owner”), the U.S. Army Corps of Engineers (USACE), the Environmental Protection Agency (EPA), the Lahontan Regional Water Quality Control Board ( Lahontan RWQCB), and the California Department of Fish and Wildlife (CDFW) on May 11, 2016, and is currently in good standing with these agencies; and
C. Project Proponent is seeking to implement the project described on Exhibit “A” attached hereto (Project), which would unavoidably and adversely impact waters of the U.S. and waters of the State, and seeks to compensate for the loss of waters of the U.S. and waters of the State by purchasing credits from Bank Sponsor; and
D. Project Proponent has been authorized by the USACE File No. SPL-2024-00241, CDF
W File No. EPIMS-LAN-48972-R5, and RWQCB File No. 24-064 to purchase from the Bank
0.83 acres 1600 Alluvial Floodplain Re- establishment credits, which include within them 0.70 acres CEQA Great Basin Scrub Covered Habitat credits, 0.09 acres CEQA Riparian Forest Covered Habitat credits, 0.04 acres CEQA Seeps, meadows, marshes Covered Habi tat credits, and 0.30 acres 404 Alluvial Floodplain Uniform Re- established credits (“Credits”) upon confirmation by the Bank Sponsor of credit availability/adequate balance of credits remaining for sale; and
E. Project Proponent desires to purchase from Bank Sponsor and Bank Sponsor desires to sell to Project Proponent the Credits;
NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1. Bank Sponsor hereby sells to Project Proponent and Project Proponent hereby purchases from Bank Sponsor C redits for the purchase price of four hundred four thousand dollars ($404,000). The Bank Sponsor will then deliver to Project Proponent an executed Bill of Sale in the manner and form as attached hereto and marked Exhibit “B”. The purchase price for
Petersen Ranch Mitigation Bank 2 Exhibit F-2 Version Date: 12-14-2018 said credits shall be paid by cashier’s check or, at the option of Bank Sponsor, wire transfer of funds according to written instructions by Bank Sponsor to Project Proponent.
2. The sale and transfer herein is not intended as a sale or transfer to Project Proponent of a security, license, lease, easement, or possessory or non- possessory interest in real property, nor the granting of any interest of the foregoing.
3. Project Proponent shall have no obligation whatsoever by reason of the purchase of the Credits, to support, pay for, monitor, report on, sustain, continue in perpetuity, or otherwise be obligated or liable for the success or continued expense or maintenance in perpetuity of the Credits sold, or the Bank. Pursuant to the BEI and any amendments thereto, Bank Sponsor shall monitor and make reports to the appropriate agency or agencies on the status of any Credits sold to Project Proponent. Bank Sponsor shall be fully and completely responsible for satisfying any and all conditions placed on the Bank or the Credits by all state or federal jurisdictional agencies.
4. The Credits sold and transferred to Project Proponent shall be non- transferable and non-assignable, and shall not be used as compensatory mitigation for any other p roject or purpose, except as set forth herein.
5. Project Proponent must exercise his/her/its right to purchase the Credits within 30 days of the date of this Agreement. After the 30 day period this Agreement will be considered null and void.
6. Upon purchase of the Credits specified in paragraph 1 above, the Bank Sponsor shall submit to the parties listed in the Notices section of the BEI, copies of the: a) Agreement for Sale of Credits; b) Bill of Sale; c) Payment Receipt; and d) an updated ledger. The updated ledger must detail: i) Project Proponent; ii) Project Name; iii) Status (sale complete/sale not complete); iv) Credit Sale Date; v) Permitting Agency File /Tracking Number; vi) Total Number of C redits Authorized to Sell; vii) Total Number of Credits Sold to D ate (inclusive); and viii) Balance of all Credits Available. The ledger should include all sales data from Bank Establishment Date to the present.
7. The signatures pages to this Agreement may be delivered via facsimile, electronic mail (including PDF or any other electronic signature complying with the U.S. federal ESIGN Act of 2000; e.g., DocuSign) or other transmission method, and any signature so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
[THIS SPACE INTENTIONALLY LEFT BLANK; SIGNATURES TO FOLLOW]
Petersen Ranch Mitigation Bank 3 Exhibit F-2 Version Date: 12-14-2018 IN WITNESS WHEREOF, the parties have executed this Agreement the day and year first above written.
BANK SPONSOR
LAND VERITAS CORP
By: _______________________________________________ Date:
Nathan Bello, on behalf of H. Tracey Brownfield, President
PROJECT PROPONENT
CITY OF SANTA CLARITA
By: _______________________________________________ Date:
Name: _______________________________ Title: __________________
Petersen Ranch Mitigation Bank 4 Exhibit F-2 Version Date: 12-14-2018 EXHIBIT “A”
DESCRIPTION OF PROJECT TO BE MITIGATED
Name of Project:
Via Princess Park Project
Project Location:
The project site is generally located one mile west of State Route 14 and six miles east of Interstate 5 in the City of Santa Clarita, Los Angeles County, California. The project site is within Sections 20 and 29 of Township 4 North, Range 15 West of Mint Canyon, U.S. Geological Survey
7.5-minute topographic quadrangle. Specifically, the project site is located north of the intersection of Via Princessa and Weyerhaeuser Way. The Metrolink railroad runs in an east -west direction through the southern portion of the project site.
Permitting Agency(ies) File/Tracking Number:
USACE File No. SPL-2024-00241
CDFW File No. EPIMS-LAN-48972-R5
RWQCB File No. 24-064
Project Description:
The project proposes to construct and operate Via Princessa Park on an approximately 38- acre area (including temporary construction access areas) of mostly City -owned land. The proposed project includes athletic fields with sports field lighting, pickleball courts, playground equipment, and other recreational facilities, such as walking paths, shade structures, picnic areas, public art, and education and monument signage. Additionally, the project would provide parking, park access, and other amenities and improvements, including alterations to the existing Via Princessa Metrolink Station parking lot, potential maintenance-level improvements to the Metrolink Station platform facilities, construction of a pedestrian and vehicle (restricted access) railroad undercrossing (including removal of the existing at -grade pedestrian crossing), relocation of an existing storm drain line, construction of a new restroom building with associated utilities, improvements to the existing restroom/office building located in the parking area, landscaping and irrigation improvements, and restoration of the existing Honby drainage channel.
In addition to recreational improvements, the project would include a regional stormwater infiltration facility. Other project civil and geotechnical design features include buried bank protection, a storm drain culvert extension, and channel restoration, as well as the removal of an agricultural well. Additionally, a fourth lane may be added to Weyerhaeuser Way, and modifications may be made to Via Princessa Road to accommodate a double- left turn lane into and/or out of Weyerhaeuser Way.
Petersen Ranch Mitigation Bank 5 Exhibit F-2 Version Date: 12-14-2018 EXHIBIT “B”
BILL OF SALE
USACE File No. SPL-2024-00241
CDFW File No. EPIMS-LAN-48972-R5
RWQCB File No. 24-064
In consideration of $404,000, receipt of which is hereby acknowledged, Land Veritas Corp (Bank Sponsor) does hereby bargain, sell and transfer to City of Santa Clarita ( Project Proponent), 0.83 acres 1600 Alluvial Floodplain Re- establishment credits, which include within them 0.70 acres CEQA Great Basin Scrub Covered Habitat credits, 0.09 acres CEQA Riparian Forest Covered Habitat credits, 0.04 acres CEQA Seeps, meadows, marshes Covered Habi tat credits, and 0.30 acres 404 Alluvial Floodplain Uniform Re -established credits (Credits) in the Petersen Ranch Mitigation Bank in Los Angeles County, California, developed, and approved by the USACE, EPA, RWQCB, and/or CDFW and associated with the Project described in Exhibit A.
Bank Sponsor represents and warrants that it has good title to the Credits, has good right to sell the same, and that they are free and clear of all claims, liens, or encumbrances.
Bank Sponsor covenants and agrees with the Project Proponent to warrant and defend the sale of the C redits hereinbefore described against all and every person and persons whomsoever lawfully claiming or to claim the same.
DATED: ______________________________________
Petersen Ranch Mitigation Bank
Land Veritas Corp., Bank Sponsor
By: ___________________________________________
Nathan Bello, on behalf of H. Tracey Brownfield, President
Petersen Ranch Mitigation Bank 6 Exhibit F-2 Version Date: 12-14-2018 EXHIBIT “C”
PETERSEN RANCH MITIGATION BANK
PAYMENT RECEIPT
PROJECT PROPONENT INFORMATION
Name:
City of Santa Clarita
Address:
23920 Valencia Blvd
Santa Clarita, CA 91355
Telephone:
661-255-4348
Contact:
Dan Duncan
PROJECT INFORMATION
Project Description:
The project proposes to construct and operate Via Princessa Park on an approximately 38- acre area (including temporary construction access areas) of mostly City -owned land. The proposed project includes athletic fields with sports field lighting, pickleball courts, playground equipment, and other recreational facilities, such as walking paths, shade structures, picnic areas, public art, and education and monument signage. Additionally, the project would provide parking, park access, and other amenities and improvements, including alterations to the existing Via Princessa Metrolink Station parking lot, potential maintenance-level improvements to the Metrolink Station platform facilities, construction of a pedestrian and vehicle (restricted access) railroad undercrossing (including removal of the existing at-grade pedestrian crossing), relocation of an existing storm drain line, construction of a new restroom building with associated utilities, improvements to the existing restroom/office building located in the parking area, landscaping and irrigation improvements, and restoration of the existing Honby drainage channel.
In addition to recreational improvements, the project would include a regional stormwater infiltration facility. Other project civil and geotechnical design features include buried bank protection, a storm drain culvert extension, and channel restoration, as well as the removal of an agricultural well. Additionally, a fourth lane may be added to Weyerhaeuser Way, and
Petersen Ranch Mitigation Bank 7 Exhibit F-2 Version Date: 12-14-2018 modifications may be made to Via Princessa Road to accommodate a double- left turn lane into and/or out of Weyerhaeuser Way
Project Location:
The project site is generally located one mile west of State Route 14 and six miles east of Interstate 5 in the City of Santa Clarita, Los Angeles County, California. The project site is within Sections 20 and 29 of Township 4 North, Range 15 West of Mint Canyon, U.S. Geological Survey
7.5-minute topographic quadrangle. Specifically, the project site is located north of the intersection of Via Princessa and Weyerhaeuser Way. The Metrolink railroad runs in an east -west direction through the southern portion of the project site.
Agency File/Tracking Number:
USACE File No. SPL-2024-00241
CDFW File No. EPIMS-LAN-48972-R5
RWQCB File No. 24-064
Species/Habitat Affected:
0.55 acre of alluvial scrub/riparian
Credits to be Purchased:
0.83 acres 1600 Alluvial Floodplain Re- establishment credits, which include within them 0.70 acres CEQA Great Basin Scrub Covered Habitat credits, 0.09 acres CEQA Riparian Forest Covered Habitat credits, 0.04 acres CEQA Seeps, meadows, marshes Covered Habi tat credits, and 0.30 acres 404 Alluvial Floodplain Uniform Re-established credits
Petersen Ranch Mitigation Bank 8 Exhibit F-2 Version Date: 12-14-2018
PAYMENT INFORMATION
Payee:
Land Veritas Corp
Payer:
City of Santa Clarita
Amount:
404,000
Method of payment:
Cash ___ Check No. __________ Money Order No. _________
Received by: _______________________________________
Nathan Bello, on behalf of H. Tracey Brownfield, President
Date: ______________________