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King C ounty Mitigation Reserves Program (MRP) 1
Statement of Sale 2
OFFICIAL RECORD OF SALE OF MITIGATION CREDITS PURSUANT TO THE TERMS AND CONDITIONS OF 3
THE KING COUNTY MITIGATION RESERVES IN LIEU FEE PROGRAM INSTRUMENT AND PROVISIONS 4
CONTAINED IN 33 CFR PARTS 325 AND 332 AS REVISED EFFECTIVE JUNE 9, 2008 (FEDERAL MITIGATION 5
RULE). 6
I. PURPOSE 7
This Statement of Sale confirms the sale of mitigation credits from the King County Mitigation 8
Reserves Program (hereinafter “Sponsor”) to the Applicant listed in Article III below. This 9
Statement of Sale does not constitute a permit or permission to proceed with any proposed action. 10
The Applicant is responsible for obtaining all necessary permits for a proposed action. 11
II. TRANSFER OF MITIGATION RESPONSIBILITY 12
The Sponsor agrees to accept full legal responsibility for satisfying the mitigation requirements 13
for all U.S. Army Corps of Engineers (Corps), State, and local permits for which mitigation fees 14
from an Applicant have been accepted under the terms of this Statement of Sale. This responsibility 15
includes compliance with 33 CFR 332, 40 CFR 230, King County Code Chapter 21A.24, any 16
applicable state and local jurisdictional laws, and the terms of the King County Mitigation 17
Reserves In-Lieu Fee Program Instrument (Program Instrument). In satisfaction of the 18
compensatory mitigation requirements, the Sponsor shall provide compensatory mitigation of the 19
type and in the amount necessary to meet applicable Federal, State, and local regulation 20
requirements. 21
III. APPLICANT AND IMPACT PROJECT DETAILS 22
A. Applicant 23
Ultima Homes LLC 24
ATTN: Altaf Gilani 25
17912 NE 27th Street 26
Redmond, WA 98052 27
Tel: 425-301-0549 28
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Docusign Envelope ID: 3160F7B0-7DC5-4ADE-8802-64A1BED0E3C0
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B. Impact Project 1
The Sponsor has accepted mitigation fees in the amount of Fifty-Nine Thousand Nine 2
Hundred Twenty-Eight Dollars ($59,928) for the unavoidable impact to wetland resources 3
as described below. Upon acceptance of these fees from the Applicant, the Sponsor is 4
agreeing to implement mitigation and assume all associated obligations and liabilities 5
according to the terms of the Program Instrument, certified on March 12, 2012. 6
7
MRP Service Area: Cedar River/Lake Washington Service Area 8
9
Description of Impacts: 10
11
The Impact Project refers to the Applicant’s Renton Highlands Short Plat Project and is 12
located on the south side of SE 120th Street in the City of Renton. Details of the proposed 13
Impact Project are provided in the In-Lieu Fee Use Plan, In-Lieu Fee Use Plan Renton 14
Highlands Short Plat- Ultima Homes LLC (ILF Use Plan) dated September 7, 2025. 15
The permit and regulatory approvals that have requirements directed towar d the wetland 16
impacts from the Impact Project are the following: 17
• City of Renton, LUA24-000078 18
The ILF Use Plan describes the impacts being mitigated through the purchase of 19
mitigation credit from the Sponsor. 20
IV. CREDITS PURCHASED AND MITIGATION FEES PAID 21
A. Credits Purchased. In exchange for the payment of mitigation fees, which the Applicant 22
paid to the Sponsor on December 29, 2025, the Applicant receives 0.949 In-Lieu Fee 23
Credits (0.407 Water Quality Credits, 0.339 Hydrology Credits, and 0.203 Habitat 24
Credits) in the Cedar River/Lake Washington Service Area. This mitigation credit will 25
draw down the Advance Credit pool in the Cedar River/Lake Washington Service Area 26
by 0.949 In-Lieu Fee Credits. 27
Docusign Envelope ID: 3160F7B0-7DC5-4ADE-8802-64A1BED0E3C0
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B. Allocation to the MRP Program Account. The mitigation fees will be deposited into the 1
following accounts within the King County MRP Account (see Basic Agreement Article 2
III.D and Appendix F): 3
MRP Service Area: Cedar River/Lake Washington 4
Total Mitigation Fees Collected from Applicant: $59,928 5
Land Fee Account: $5,361 (8.9% of total mitigation fee) 6
Program Admin. Account: $5,457 (9.1% of total mitigation fee) 7
Contingency Fee Account: $4,911 (8.2% of total mitigation fee) 8
Long Term Management Fund: $2,456 (4.1% of total mitigation fee) 9
Mitigation Project Accounts: $41,743 (69.7% of total mitigation fee) 10
V. PROOF OF PURCHASE 11
This Statement of Sale shall serve as official proof that the Applicant has purchased 12
mitigation credits from the Sponsor. 13
A. Signed Statement of Sale provided to Applicant. The Sponsor will provide a signed copy 14
of this form to the Applicant within 15 days after receipt of funds from the Applicant. The 15
Applicant is responsible for submitting copies of the signed Statement of Sale to 16
appropriate regulatory agencies as proof of purchase of mitigation credits from the 17
Sponsor. 18
B. Signed Statement of Sale provided to the Corps and Ecology. The Sponsor will provide a 19
signed copy of this form to the IRT representatives from the Corps and Ecology, co-chairs 20
of the IRT, within 15 days after receipt of funds from the Applicant. 21
C. Copies available to IRT members. Copies of this Statement of Sale will be made available 22
any member of the IRT upon the IRT member’s request. 23
VI. ADDITIONAL PROVISIONS 24
A. Allocation of Funds. The Sponsor will deposit the moneys listed above into the program 25
account in the amounts listed in Article IV.B of this Statement of Sale. Record of these 26
funds will also be added to the Program Account Ledger. 27
Docusign Envelope ID: 3160F7B0-7DC5-4ADE-8802-64A1BED0E3C0
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B. Spending Authorization. Upon initial receipt of mitigation fees, the Sponsor shall be 1
authorized to spend up to 75% of funds allocated to Administrative Accounts according 2
to the terms of the program instrument (see Appendix F, Section 4.0). T he District 3
Engineer, after consultation with the IRT, must authorize all additional expenditures from 4
the program account pursuant to 33 CFR 332.8(i)(2) and pursuant to the Basic Agreement 5
Article III.B. 6
C. Reporting requirements unaffected. This agreement shall not affect reporting 7
requirements outlined in the program instrument. 8
D. Effect of Agreement. This Agreement does not in any manner affect statutory authorities 9
and responsibilities of the Sponsor. This Statement of Sale is not intended, nor may it be 10
relied upon, to create any rights in third parties enforceable in litigation with the United 11
States or the State of Washington. This Statement of Sale does not authorize, nor shall it 12
be construed to permit, the establishment of any lien, encumbrance, or other claim with 13
respect to the Mitigation Reserves Program property, with the sole exception of the right 14
on the part of the Corps to require the Sponsor to implement the provisions of Program 15
Instrument, including recording conservation easements or similarly restrictive covenants, 16
required as a condition of the issuance of permits for discharges of dredged and fill 17
material into waters of the United States associated with construction and operation and 18
maintenance of a Mitigation Site. 19
E. Attorneys’ Fees. If any action at law or equity, including any action for declaratory relief, 20
is brought to enforce or interpret the provisions of this Statement of Sale, the prevailing 21
party shall be entitled to be reimbursed for its court costs and attorneys’ fees, in addition 22
to all damages, through all levels of appeal. 23
F. Headings and Captions. Any paragraph heading or caption contained in this Statement of 24
Sale shall be for convenience of reference only and shall not affect the construction or 25
interpretation of any provision of this Statement of Sale. 26
G. Successors and Assigns. This Statement of Sale shall be binding upon and inure to the 27
benefit of the parties hereto and their respective successors and assigns. 28
H. Amendments. This Statement of Sale shall not be amended without the express written 29
agreement of the Parties. 30
Docusign Envelope ID: 3160F7B0-7DC5-4ADE-8802-64A1BED0E3C0
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IN WITNESS WHEREOF, the Sponsor confirms the information contained in this Statement of Sale to 1
be true as written. 2
SPONSOR 3
4
_________________________________ ____________________ 5
Josh Baldi Date 6
Division Director 7
Water and Land Resources Division 8
King County Department of Natural Resources and Parks 9
201 South Jackson Street, Suite 6300 10
Seattle, WA 98104-3855 11
Docusign Envelope ID: 3160F7B0-7DC5-4ADE-8802-64A1BED0E3C0
1/5/2026