EcoScience Corporation - Mitigation Banking

Mitigation Banking

Mitigation banking has received increasing interest in recent years as an ecologically sound, cost effective alternative for dealing with wetland losses. Mitigation banking has been defined as “habitat protection or improvement actions taken expressly for the purpose of compensating for unavoidable, necessary losses from specific future development actions” (46 FR 7663). Measures to create, enhance, improve and protect fish and wildlife resources are done prior to project activities that will result in habitat degradation or destruction. Bank “credits” exist as acres or some form of habitat value units. Projects involving wetland impacts require debiting the bank in an amount sufficient to compensate for functional losses.

Mitigation banking is particularly useful in providing compensation for small wetland impacts where on-site mitigation is difficult to achieve or may not be an economic option. By concentrating resources into large and potentially more valuable areas, habitat enhancement can occur, increased management control can be gained, and costs can be reduced.

	Bear Creek Mitigation Bank Photo courtesy of Restoration Systems

ECOSCIENCE QUALIFICATIONS

The scientists of EcoScience Corporation (ESC) have an unsurpassed history with respect to mitigation banking. The following examples represent completed banks in the area:

Company Swamp Mitigation Bank, Bertie County, N.C.:
Sponsored by the North Carolina Department of Transportation – 1,300 acres.

Black River Basin Mitigation Bank, Clarendon County, S.C.:
Sponsored by the South Carolina Department of Transportation – 1,700 acres.

Cape Fear Regional Wetland Mitigation Bank, Barra Farms,
Cumberland County, N.C.:
Sponsored by EcoBank – 626 acres.

Madison County Wetland Mitigation Bank, Tenn.:
Sponsored by the Tennessee Department of Transportation – 703 acres.

North Carolina Global TransPark Mitigation, Lenoir and
Craven Counties, N.C.:
Sponsored by the North Carolina Global TransPark Authority – 4,600 acres.

Bear Creek Mitigation Bank, Lenoir County, N.C.:
Sponsored by Restoration Systems – 323 acres.

Development of a wetland mitigation bank is exciting and challenging. Our staff can offer assistance in the following areas:

Site Evaluations
Not every site is the perfect mitigation bank site. Does the area contain former wetlands that have been ditched, drained, or cut over? Where does the site exit in the landscape? Can wetlands be restored to the site in a cost effective manner? Would protection of the site as a mitigation bank provide regional benefits? Will restoration affect adjacent landowners? Does restoration of the site enhance water quality in the area?

ESC’s staff of trained scientists is available to provide those answers. We can investigate the potential for the site to provide ecological and economic benefits.

Mitigation Plans and Credit Determinations
Good site planning is the key to successful banking. ESC brings a high level of scientific expertise to the table in order to investigate all aspects of site work. We combine our skills with those of engineers, soil scientists, hydrogeologists, cartographers, surveyors, and other members of the planning team in order to get the necessary answers. The plan serves as the backbone and blueprint for mitigation bank site improvements. When finally approved, ESC can monitor the bank to ensure the project has been properly implemented.

Mitigation “credits” represents the transaction “currency” in the mitigation bank. It is important for resource agencies to know if wetland functions can be restored to the site so that a “credit” determination can be made. At the same time, it is equally important for the landowner to understand how much “value” the bank credits will have. Thorough plans prepared for the mitigation bank site by ESC help to provide the basis for sound decision making – from both biologic and economic perspectives.

Mitigation Banking Instruments (MBIs)
The MBI serves as the “contract” document between the banker-to-be and the reviewing resource agencies. The MBI lists the terms and conditions under which the bank will be formally established. Items contained in the MBI range from a description of the bank, to release of credits, to the legal/financial obligations of the banker. Therefore, it is important to have a firm familiar with all aspects of the MBI process to develop the document and represent the banker in agency negotiations.

Mitigation Bank Review Team (MBRT) Coordination
The MBRT is made up of federal and state agency personnel who review the mitigation plan and the MBI. The U.S. Army Corps of Engineers typically serves as the lead agency, following federal guidance outlining the terms of establishment for a mitigation bank. Open and honest communications between all parties is important during all phases of the banking process. Confidence in the work undertaken by the sponsoring party (the banker) is therefore critical to successful negotiations.

SUMMARY

Banking is not the answer to all wetland mitigation needs. However, mitigation banking can be a cost effective option for consideration. EcoScience personnel have unique and extensive experience in this developing field and we are prepared to make your mitigation banking endeavor a success.

Tel: 919-828-3433

site development by cybergraph