Wetland Mitigation Banking
Wetland Mitigation
NRP’s Qualifications Include:
- Extensive experience representing buyers and sellers of mitigation credits
- Comprehensive knowledge of the 2008 Mitigation Rule
- Direct involvement in the establishment of over 15 successful banks
- Implementation of Permittee Responsible Mitigation and In-Lieu Fee Mitigation Programs
- Extensive connections within the mitigation industry
- Strong relationships with South Louisiana landowners, businesses, levee/drainage districts, and regulators
- Expertise in mitigation bank construction management, monitoring, management, and bank administration
- Proven track record in mitigation credit sales, market analyses, and strategy
current projects
NRP manages 10 active banks totaling more than 13,000 acres throughout South Louisiana.
These banks provide Bottomland Hardwood, Cypress Swamp and Fresh Marsh habitat mitigation credits.
Wetland Mitigation
Wetland mitigation is the offset or compensation of impacts to wetlands under the Section 404 Permitting Program. During the permitting process, the habitat type, quality, and characteristics of the impacted wetland are used to establish a “credit value.” A “mitigation plan,” is then developed by preserving, enhancing, and/or restoring wetlands in a way that matches the credit value of the impacted wetlands. Typically, mitigation plans will achieve the same habitat types located within the same geographic area or watershed to ensure that wetlands functions and values are not lost due to a permitted development activity. Mitigation activities often include hydrology improvements, vegetative plantings, invasive species control, and monitoring.
Mitigation Banks
A mitigation bank is an area of land that has undergone wetland preservation, enhancement, and/or restoration activities by a private entity (Sponsor) for the purposes of generating “wetland credits” for sale to entities/individuals impacting wetlands. The generation and sale of these credits are highly regulated by the US Army Corps of Engineers and other environmental resource agencies and are tied solely to the successful management of the preservation, enhancement and/or restoration activities.
Establishing a Mitigation Bank
In order to establish an approved mitigation bank, the Sponsor must complete 7 steps: 1) Establish baseline information, 2) Submit a Prospectus, 3) Address Public Comments, 4) Prepare a Mitigation Banking Instrument, 5) Secure Financial Assurances, 6) Conduct Mitigation Activities, and 7) Monitor and Manage the Bank.
Obtaining Mitigation Credits
Securing mitigation at the right time and right price impacts the permit schedule and project costs. NRP will not only guide you through your wetland permit, but we will secure the most time and cost effective mitigation option available to you.
