What are Mitigation Bank Credits?

IMG_0199THE VALUE OF A MITIGATION BANK is defined in “compensatory mitigation credits”.  A certain number of credits are available for sale. Several in depth ecological assessment techniques certify that those credits provide the required ecological lift.

In the United States, federal and state agencies (under section 404 of the Clean Water Act) require mitigation for the disturbance or destruction of wetland, stream, or endangered species habitat. A mitigation bank may sell credits to interests whose projects will impact wetland or sensative ecosystems.

Credits are units of exchange defined as the ecological value associated with converting to other economic uses a naturally occurring wetland. A Interagency Review Team (IRT)  evaluates and permits a proposed mitigation bank and designates credits. The IRT usually includes representatives of assorted federal, state and/or local government agencies, including: U.S. Army Corps of Engineers, National Marine Fisheries Service, Environmental Protection Agency, US Fish and Wildlife Service, State Environmental Protection Divisions, Local Water Management Districts, County Environmental Departments and the Soil Conservation Service.

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Your email address will not be published.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>