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Mitigation also identifies that Kittitas County can re -allocate its water right portfolio to <br />meet back mitigation requirements, through a written request to Ecology. <br />DISCUSSION: <br />Conveying these water right deeds to Ecology is the final step required for Kittitas <br />County to meet its back -mitigation obligations. We recommend scheduling a celebration <br />to acknowledge this milestone. <br />Kittitas County will need to amend our Trust Water Right Agreement to expand our <br />ability to issue new mitigation certificates. This expanded ability would include utilizing <br />our newer acquisitions for forward mitigation and \ expanding our bank to serve <br />municipal uses. <br />FISCAL IMPACTS: <br />Kittitas County has already secured funding and acquired the water rights to be conveyed. <br />Kittitas County can re -allocate its full water right portfolio if needed in the future to meet <br />its public water bank objectives. This transfer qualifies for an exemption to the Real <br />Estate Excise Tax. <br />ATTACHMENTS: <br />Exhibit 1: Draft Letter for Ecology <br />Page 2 of 3 <br />PUBLIC WORKS BOARD OF COUNTY COMMISSIONERS WORK SESSION STAFF REPORT <br />