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12-13-2022 Resolution No. 12031RESOLUTION NO. 12031 RESOLUTION AUTHORIZING ESTABLISHMENT OF A NEW SPECIAL REVENUE FUND FOR PUBLIC TREE PLANTINGS WHEREAS, the City of Richfield desires to increase flexibility for land use applicants and developers by establishing the option to pay funds in lieu of tree planting; and WHEREAS, the option would only be available when all other on-site tree planting options have been exhausted; and WHEREAS, the Zoning Code already allows for planting standards to be met through boulevard plantings, and the proposed fund would allow for the City to plant the trees on behalf of the applicant/developer at a later date, thereby allowing projects that would not otherwise be completed over the winter to be closed-out in a more timely fashion; and WHEREAS, it is the intent that the funds will be available to both the Recreation Services Department (for planting trees in City parks) and the Public Works Department (for planting trees in City right-of-ways); and WHEREAS, the establishment of the fund is a sustainable initiative that complies with the goals and objectives of the 2040 Comprehensive Plan; and WHEREAS, for transparency and accurate tracking of revenue and expenditures, staff recommends the establishment of a new fund; and WHEREAS, these funds will have the following name: Public Tree Planting Fund (line item #47150); and WHEREAS, Section 7.12 of the City Code requires Council approval by resolution of the establishment of new funds in the City of Richfield budget; NOW, THEREFORE, BE IT RESOLVED the City Council herby approves the establishment of the Public Tree Planting Fund, for transparent and accurate tracking of financial activity. Adopted by the City Council of the City of Richfield, Minnesota this 10th day of January, 2023 ATTEST: Kari Sinning, City Clerk Maria Regan Gonzalez, Mayor