Mitigation 101... Q & A
What is compensatory mitigation?
- Compensatory mitigation is restoring, enhancing, or preserving aquatic resources to replace or "compensate" for the aquatic resource and functions lost through development or permitted activity
Why is it required?
- The Clean Water Act is the basis for the longstanding national goal of “no net loss” of our aquatic resources
What is a mitigation bank?
- If you want to disturb aquatic resources you must obtain a permit issued by the US Army Corps of Engineers (USACE)
- Created with a Mitigation Banking Instrument (MBI) which is a legal document between the bank sponsor & regulatory agencies establishing liability, performance standards, management & monitoring requirements, and the terms of credit approval
- Overseen by the Interagency Review Team (IRT) which provides regulatory review & approval
- Mitigation Banks are the preferred method of compensatory mitigation by the EPA & USACE
Why use a mitigation bank?
- Releases you from risk and responsibility
- Saves you time and money
- Allows you to focus on your business and your expertise
- Benefits the environment
How does it work?
- Verify with the local Corps of Engineers District that the bank is a viable option for your compensatory mitigation
- Tell us your permit number and how many credits you need
- We quote you a price and send an invoice to you
- We receive the funds
- We issue you a transaction record and inform USACE of your purchase
- You are cleared to move forward with your project
We offer a turnkey approach, simple and complete. It allows you to compensate for your unavoidable impacts in a responsible manner while relieving you from the regulatory maze and long-term responsibility.
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