What do the Regulatory and Resource Agencies Think about Banking?
In November of 1995, joint federal guidance on the “Establishment, Use and Operation of Wetland Mitigation Banks” was published in the federal register. Participating agencies included the U.S. Army Corps of Engineers, Environmental Protection Agency, Fish and Wildlife Service, Natural Resource Conservation Service, and National Oceanic and Atmospheric Administration. Recognizing the potential benefits mitigation banking offers for streamlining the permit evaluation process and providing more effective mitigation for authorized impacts to wetlands, the agencies encourage the establishment and appropriate use of mitigation banks. Further, the agencies recognize that: • Larger, consolidated wetland bank sites can provide greater function and ecological value as compared to small, isolated, on-site mitigation projects. • Banks provide mitigation in advance of impacts, which is of significant benefit to the environment. • Banks have a greater probability of success because of consolidation
