Advantages of Mitigation Credit Purchase

9288717517_9642442830_b

There are many benefits to purchasing mitigation credits

Working with a mitigation bank saves time and money:  One of the benefits described in the Federal Guidance for the Establishment, Use and Operation of Mitigation Banks is that “Use of mitigation banks may reduce permit processing times and provide more cost-effective compensatory mitigation opportunities for projects that qualify.”

The organization in need of mitigation may not be experienced in natural resource restoration, which requires expertise and equipment. For the long term, buying credits in a bank is usually less costly than trying to establish a mitigation solution yourself, particularly when an investment in additional land is required for mitigation and the cost of the additional permitting process is added to the construction task.

Purchasing mitigation bank credits eliminates risk and responsibility: The credit transaction legally transfers all responsibility for mitigation to the mitigation banker.

Perpetual conservation: Mitigation banks place a perpetual conservation easement on the land, with a trust fund specifically dedicated to long term management of natural resources inherent to the bank.

More Developer options: Mitigation banks provide functional business advantages that allow for ease of development. The developer may maximize the use of a preferred development site rather than breaking up the site into sub-optimal property uses. Because mitigation bank credits are negotiated prior to development, hence prior to impact, purchasing credits from a mitigation bank decreases permitting time while also ensuring no net loss of habitat.


Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>