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Lincoln council approves sale of 8.5 acre-feet of Lakeview Farms stormwater credits to Christina Companies
Summary
The City Council voted unanimously to authorize sale of 8.5 acre-feet of Lakeview Farms volumetric stormwater credits to Christina Companies (Athens LLC) for roughly $293,000 plus a $143,000 one-time maintenance payment; council members said they will develop formal policy to govern future out-of-area capacity requests.
The Lincoln City Council on May 14 approved an agreement authorizing the sale of 8.5 acre-feet of volumetric stormwater credits from the Lakeview retention basin to Christina Companies (Athens LLC), a transaction staff said would raise roughly $293,000 up front plus a one-time perpetual maintenance payment of about $143,000.
City staff told the council the Lakeview retention basin was created as part of a long-term strategy to mitigate downstream flooding obligations and to provide regional storage capacity as the city grows. Staff estimated the city's foreseeable need at about 2,800 acre-feet; the 8.5 acre-feet being…
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