HomeMy WebLinkAboutCO 2025-106 - Land Veritas CorpDocusign Envelope ID: 5423D802-62DB-44C4-B8F9-2BOAD32CF4AA
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CON C R.AC T NUMBER
AGREEMENT FOR SALE OF CREDITS
CDFW FILE NO. EPIMS-SBR-53371-R6
RWQCB FILE NO. 362024-28
This Agreement is entered into this 6th day of August 2025, by and between the Land
Veritas Corp (Bank Sponsor) and City of Rancho Cucamonga (Project Proponent), jointly referred
to as the "Parties," as follows:
RECITALS
A. The Bank Sponsor has developed the Soquel Canyon Mitigation Bank (Bank)
located in San Bernardino and Orange Counties, California; and
B. The Bank has been developed pursuant to a Bank Enabling Instrument entered
into by and between Bank Sponsor, Land Veritas I, LLC, the U.S. Army Corps of Engineers
(USACE), the U.S. Environmental Protection Agency (EPA), the Santa Ana Regional Water
Quality Control Board (RWQCB), and the California Department of Fish and Wildlife (CDFW) on
December 15, 2014 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 State
thereon, and seeks to compensate for the loss of the same by purchasing credits from Bank
Sponsor; and
D. Project Proponent has been authorized by the CDFW, File No. EPIMS-SBR-
53371-R6 and RWQCB File No. 362024-28, to purchase from the Bank 0.51 acres 1600
Ephemeral Riparian Enhancement 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;
1. Bank Sponsor hereby sells to Project Proponent and Project Proponent hereby
purchases from Bank Sponsor Credits from the Bank for the purchase price of one hundred
ninety-five thousand dollars ($195,000). 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 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.
Soquel Canyon Mitigation Bank 1 Exhibit F-2 Version Date: 12-14-2018
Docusign Envelope ID: 5423D802-62DB-44C4-B8F9-2BOAD32CF4AA
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 project 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 Credits
Authorized to Sell; vii) Total Number of Credits Sold to Date (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)
Soquel Canyon Mitigation Bank 2 Exhibit F-2 Version Date: 12-14-2018
Docusign Envelope ID: 5423D802-62DB-44C4-B8F9-2BOAD32CF4AA
IN WITNESS WHEREOF, the Parties have executed this Agreement the day and year
first above written.
BANK SPONSOR
LAND VERITAS CORP
S&IG /'
Signed by: ////
By:
Nathan Bello, on behalf of H. Tracey Brownfield, President
PROJECT PROPONENT
CITY OF RANCHO CUCAMONGA
[—;ocuSigned by:
By: � 1� Giwsbw
Name: John Gillison
Its: City Manager
Date: 8/6/2025
Date:
8/6/2025
Soquel Canyon Mitigation Bank 3 Exhibit F-2 Version Date: 12-14-2018
Docusign Envelope ID: 5423D802-62DB-44C4-B8F9-2BOAD32CF4AA
DESCRIPTION OF PROJECT TO BE MITIGATED
Name of Project:
Almond Street Extension Street Improvements Project
Project Location:
Almond Street, from Carnelian Street to Via Verde, Rancho Cucamonga, County of San
Bernardino.
Permitting Agency(ies) File Number:
CDFW File No. EPIMS-SBR-53371-R6
RWQCB File No. 362024-28
Project Description:
The Almond Street Extension project includes constructing improvements to complete the
connection of Almond Street between Carnelian Street and Via Verde. Improvements include
constructing 900' of new roadway, curb and gutter, equestrian trail, driveways, upgrade storm
drain, water main improvements, grading, retaining walls and streetlights.
Soquel Canyon Mitigation Bank 4 Exhibit F-2 Version Date: 12-14-2018
Docusign Envelope ID: 5423D802-62DB-44C4-B8F9-2BOAD32CF4AA
EXHIBIT "B"
BILL OF SALE
CDFW File No. EPIMS-SBR-53371-R6
RWQCB File No. 362024-28
In consideration of $195,000, receipt of which is hereby acknowledged, Land Veritas Corp
(Bank Sponsor) does hereby bargain, sell and transfer to City of Rancho Cucamonga (Project
Proponent), 0.51 acres 1600 Ephemeral Riparian Enhancement credits (Credits) in the Soquel
Canyon Mitigation Bank in San Bernardino and Orange Counties, California, developed, and
approved under the authority of the United States Army Corps of Engineers and/or California
Department of Fish and Wildlife 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 Credits hereinbefore described against all and every person and persons
whomsoever lawfully claiming or to claim the same.
Land Veritas Corp
Nathan Bello, on behalf of H. Tracey Brownfield, President
Soquel Canyon Mitigation Bank 5 Exhibit F-2 Version Date: 12-14-2018
Docusign Envelope ID: 5423D802-62DB-44C4-B8F9-2BOAD32CF4AA
EXHIBIT "C"
SOQUEL CANYON MITIGATION BANK
PAYMENT RECEIPT
PROJECT PROPONENT INFORMATION
Name:
City of Rancho Cucamonga
Address:
10500 Civic Center Drive
Rancho Cucamonga, CA 91730
Telephone:
909-774-4058
Contact:
Marlena Perez — Principal Engineer
PROJECT INFORMATION
Project Description:
The Almond Street Extension project includes constructing improvements to complete the
connection of Almond Street between Carnelian Street and Via Verde. Improvements include
constructing 900' of new roadway, curb and gutter, equestrian trail, driveways, upgrade storm
drain, water main improvements, grading, retaining walls and streetlights.
Project Location:
Almond Street, from Carnelian Street to Via Verde, Rancho Cucamonga, County of San
Bernardino.
Soquel Canyon Mitigation Bank 6 Exhibit F-2 Version Date: 12-14-2018
Docusign Envelope ID: 5423D802-62DB-44C4-B8F9-2BOAD32CF4AA
Agency File Number:
CDFW File No. EPIMS-SBR-53371-R6
RWQCB File No. 362024-28
Species/Habitat Affected:
0.17-acre of natural drainages (intent to purchase 0.51-acre of mitigation (a 3:1 ratio) using the
Soquel Canyon Mitigation Bank ephemeral drainage enhancement credits bundled to satisfy our
1600 and 401 permits)
Credits to be Purchased:
0.51 acres 1600 Ephemeral Riparian Enhancement credits
PAYMENT INFORMATION
Payee:
Land Veritas Corp
Payer:
City of Rancho Cucamonga — Local Entity
Amount:
$195,000
Method of payment:
Received by:
Nathan Bello, on behalf of H. Tracey Brownfield, President
Date:
Soquel Canyon Mitigation Bank 7 Exhibit F-2 Version Date: 12-14-2018