What are the Alternatives to Purchasing Bank Credits?
The permit holder is obligated to undertake the process of designing, implementing, and guaranteeing a successful mitigation plan. Prior to the use of mitigation banks, this method was the only one available for fulfilling mitigation obligations. This option is still available. Mitigation may be achieved through the restoration, creation, or enhancement of wetlands, usually on-site or at a selected off-site location. Regulations require a minimum compensation ratio of one to one, or one unit of wetland mitigation for each unit of impact. The regulators may require higher ratios based on the type of mitigation proposed and its perceived likelihood of success. Planning and implementing a successful mitigation project usually demands the expertise of a certified wetland scientist, as well as other professional disciplines that can add critical expertise through the process. Your consultant and their team will work though a process that includes: 1) a site selection/feasibility analysis, 2
