WETLANDS MITIGATION BANKING

Wetlands mitigation banking is a relatively new natural resource management concept for the advanced compensation of unavoidable wetland losses due to developmental activities.  Wetland mitigation banks are achieved through the creation, restoration, enhancement or preservation of other wetland areas of equivalent value generally located outside the immediate area of wetlands loss or alteration.

Wetland mitigation banks are normally created in large blocks of restored or enhanced wetland properties.  As development takes place, wetland restoration credits are sold to developers in amounts to offset destroyed wetlands.  As development continues over time, wetland credits are progressively sold until all possible credits are exhausted.  When credits are reduced to zero, new wetland mitigation banks are established.

Successful wetlands mitigation banking is targeted for the compensation of relatively small wetlands losses caused by repetitive types of construction activity in which piecemeal losses may be minor, but cumulative losses over time may be substantial.  By virtue of their small size and usual location within established arenas of development, such losses may not be feasible to mitigate on-site.  The purchase of wetland credits allows land developers to quickly and efficiently resolve their wetland destruction issues at predetermined rates.