|
Wetland Mitigation Plans & Monitoring:
Our mitigation plans utilize a combination of wetland compensation
techniques (i.e. restoration, creation, enhancement and/or
preservation) that will fulfill regulatory requirements and provide
wetland habitats functionally equivalent to those impacted. LMG
routinely provides mitigation services to diverse clientele (from
single-family residential to large-scale government contracts). We also
provide technical expertise to the establishment of regional wetland
and stream mitigation banks.
Recent Wetland Mitigation Rule Changes
Recent rules governing the use of mitigation banks became effective as of October 1, 2008. These rules, issued jointly by the US Army Corps of Engineers and US Environmental Protection Agency, have established private mitigation banks as the preferred alternative to state run in-lieu fee programs.
What are private mitigation banks?
Private mitigation banks
are large scale (typically) projects which encompass a wide variety of
restored stream and wetland ecosystems.
Why are they created?
Banks are created to provide high quality mitigation for unavoidable
impacts to wetlands and streams that are permitted through the 401/404 review process.
Mitigation derived from private banks is often the preferred
alternative due to the level of agency oversight and stringent success
criteria applied to each project.
Who regulates the creation of mitigation banks?
Creation of mitigation bank requires the approval of several state and
federal resource agencies including the US Army Corps of Engineers, US
EPA, NC Division of Water Quality, NC Division of Coastal Management,
and others. Each of these agencies must review and approve the
technical proposal prior to initiating any restoration activities.
How do mitigation banks work?
Individual restoration projects generate "credits" which are derived
from the size, type, and value of the ecosystem targeted for
restoration. These include nonriverine and riverine wetlands as well as
streams. One wetland credit is typically generated for every acre of
restoration provided. Streams credits are generated on the basis of
linear feet restored or enhanced. Credits are incrementally released
during the construction and monitoring of a project and are available
for sale on the open market.
What level of financial return can I expect?
The value of each mitigation credit is based on market conditions and
is not regulated by any state or federal agency. Projects located in
urban or coastal watersheds typically command higher prices due to land
acquisition costs and development pressure. Click here for the current price schedule from the NC Ecosystem Enhancement Program.
What is LMG's role in the process?
Land Management Group staff have been actively involved in the
development and execution of large scale mitigation projects for over a
decade. Our staff can provide the technical expertise necessary to
evaluate the physical, biological, and regulatory aspects in all
physiogeographic regions throughout the southeast. Click here for a summary of mitigation projects.
|
