Mitigation 101
What is Mitigation Banking?
What is a Mitigation Bank and what are Credits?
How does Mitigation Banking work?
What will I gain from using a Mitigation Bank?
Why is a Mitigation Bank a good choice for the environment?
What is a Mitigation Project?
What are the benefits of selecting a Mitigation Project?
Types of Wetland Impacts Suitable for Bank or Project Site
What is Mitigation Banking?
Mitigation banking consists of the enhancement, restoration, creation and/or preservation of wetland habitat for use as credit to compensate for development impacts within a service area. Wetland or stream system banking is an affordable and sensible mitigation option that allows growth and development to continue while conforming to environmental regulations.
What is a Mitigation Bank and what are Credits?
A Mitigation Bank is an area of wetlands and streams which has been restored, enhanced, created, or preserved. The value of a bank is determined by quantifying the actions taken on the land in terms of "credits." These "credits" may subsequently be withdrawn to offset "debits" (i.e. wetland impacts).
How does Mitigation Banking work?
Mitigation Banks may be created by landowners, corporations, government agencies, or non-profit organizations. Before a bank can be permitted and approved for credit sales, federal and state regulatory agencies form a Mitigation Banking Review Team (MBRT). The MBRT reviews and approves plans for construction, maintenance, and monitoring of the bank along with the amount of credits that may be earned by the Banker.
Once a Mitigation Bank is approved by the MBRT, credits may be purchased by applicants who must compensate for unavoidable wetland and/or stream impacts which are incurred at a development site. Applicants must apply to federal and/or state agencies responsible for wetland and/or stream permitting. The applicant must provide justification to impact wetlands and/or streams and prove that the impacts cannot be adequately or feasibly mitigated on-site. The applicant must clearly demonstrate that the use of bank credits (off-site) is the most environmentally preferable method.
The method for quantifying credits and debits for an impact is established by the agency/ies that regulate wetland mitigation in your state. For more information about the credit system applicable to your project, visit the website for the US Army Corps of Engineers and choose the region office closest to your project location.
What will I gain from using a Mitigation Bank?
Mitigation Banks provide a highly efficient approach to mitigation. Permitting time and administrative costs are reduced; cost overruns and unforeseen costs are avoided. It allows you to optimize your land while providing restored hydrology and rich continuous habitat for wildlife within the bank. Additionally, when purchasing credits from a Mitigation Bank, you eliminate the risk and responsibility associated with mitigation, as all obligations related to mitigation are legally transferred to the bank sponsors.
Why is a Mitigation Bank a good choice for the environment?
Mitigation Banks may have greater ecological benefits as they often preserve larger areas that contain unique ecological characteristics and habitats with prolific biodiversity. Mitigation Banks may also connect to existing wildlife corridors, creating a more cohesive, and vital conservation corridor that will be preserved in perpetuity. The banking process ensures the restored ecosystem works, as careful monitoring takes place over several years.
What is a Mitigation Project?
A Mitigation project is an alternative when mitigation banks or credits are not available in a service area. Projects may also help compensate when both stream and wetland credits are needed, but mitigation banks in the required service area have only one type of credits.
Lands selected for specific mitigation projects are typically smaller than mitigation banks, and are used to compensate for impacts on a case by case basis or for several proposed impacts by one client in the same drainage basin. Mitigation projects must be assessed, designed, permitted, and constructed under the applicable regulatory permit process.
What are the benefits of selecting a Mitigation Project?
A Mitigation Project offers a viable solution when a mitigation bank or credits are not available in your service area. This option allows the client to purchase the land and maintain control over the mitigation decisions. Development of the mitigation plan is under the client's direction; therefore, it is tailored specifically to their project needs. The client or client's agent designs, permits, constructs, and monitors the mitigation site until the permit obligations have been fulfilled.
- Types of Wetland Impacts Suitable for Bank or Project Site
- Projects with wetland or stream impacts when on-site mitigation is not feasible or available,
- Projects where it can be demonstrated that off-site mitigation would provide more ecological benefits than conducting the mitigation on-site,
- Projects with minor impacts that cumulatively would result in more than a minimal impact,
- Linear projects, such as highways, that generally result in numerous minor impacts but cumulatively could be considered more than minimal, and
- Projects with substantial adverse impact that cannot be adequately mitigated on-site.
If you have any questions or if you are interested in how Mitigation Connection, LLC can help you, email us or call (888) 301-1707 ext. 106 for more information.
What's New
- Broxton Rocks Mitigation Bank
- Serving Central and Southeastern Georgia.
Mitigation Bank Credits:
- Less time, effort, and liability
- Easier permit process and coordination with agencies
- No monitoring, maintenance or fulfillment of criteria
- Once credits are secured and paid for, the process is complete and your liability ends
Mitigation Project:
- Option for when bank credits are unavailable
- More flexibility and control
- Mitigation Plan is tailored specifically to your needs
- You design, permit, and construct the mitigation project
- Typically used for one project’s impact, or for a client with multiple projects
- Requires compliance with regulatory process including approval, permitting, construction, monitoring, and maintenance