Examples of ILF Project in a sentence
The Program Sponsor shall establish an LTMM Fund for each ILF Project for the long- term or perpetual management and maintenance of the ILF Project site, if one is required.
In general, because Preservation does not involve meeting short- term Performance Standards, 100% of the Credits expected to be created by an ILF Project implementing Preservation shall be deemed to be generated as Released Credits upon acquisition and full legal protection of the real property to be Preserved and the achievement of the applicable milestone for funding of the LTMM Fund for such real property.
Circumstances may arise wherein the Program Sponsor requests to incorporate a new special- purpose Service Area into the ILF Program or add a new entity such as a fish and wildlife agency, local governmental agency, or joint powers authority to enable the entity’s participation in the ILF Program or an ILF Project.
The Program Account is separate and apart from any Long-term Management and Maintenance Funds (“LTMM Funds”) established for the long-term management and maintenance of ILF Project sites.
As milestones in an individual ILF Project’s Credit Release schedule are reached (i.e., Restoration, Establishment, Enhancement, and/or Preservation is implemented), the ILF Project will be deemed (as confirmed in writing by the applicable IRT Members) to have generated Released Credits.
Generation of Released Credits shall require: (1) the applicable IRT Members’ approval of the Project Development Plan for the ILF Project site; (2) achievement of the applicable milestone(s) in the Credit Release schedule; (3) submittal of a request for Credit Release to the applicable IRT Members, along with documentation substantiating achievement of the criteria for release to occur; and (4) written confirmation of Credit Release from the applicable IRT Member(s).
The Annual Report shall include a GIS database showing: (1) the location of each permitted Impact for which a Credit is Transferred to satisfy applicable Compensatory Mitigation, and (2) each ILF Project location, size, and resource acreages Restored, Established, Enhanced, or Preserved.
With reasonable advance written notice provided to the Program Sponsor, at the request of applicable IRT Members, the Program Sponsor shall provide for access to the ILF Project site to the applicable IRT Members and their agents or designees at reasonable times as necessary to conduct inspections and compliance monitoring with respect to the requirements of this Instrument.
If the ILF Project does not achieve the performance-based milestones, the applicable IRT Members will coordinate with the Program Sponsor to modify the Credit Release schedule and provide written notice of such modification to the Program Sponsor.
Each ILF Project will be approved by the applicable IRT Member(s) individually, as detailed herein.