Mitigation banking definition

Mitigation banking means compensating for unavoidable wetland or stream losses in advance of development actions through the sale, purchase or use of credits from a mitigation bank.

Mitigation banking means creating or restoring a large wetland in advance of specific projects requiring permits and mitigation. Mitigation "credits" are assigned to the functions and/or acreage restored or created in the "bank". As unavoidable project impacts are permitted in the area, credit is "debited" from the bank to meet the mitigation requirements for those permitted projects. Project impacts must still be avoided and minimized, and on-site, in-kind considerations must still be met.

Mitigation banking means compensating for unavoidable wetland [or stream] losses in advance of

Examples of Mitigation banking in a sentence

• Mitigation banking may be an acceptable form of compensatory mitigation under specific criteria designed to ensure an environmentally successful bank.

• Environmental Mitigation banking is the restoration, creation, enhancement, or preservation of a wetland, stream, or habitat conservation area which offsets expected adverse impacts to similar nearby ecosystems.

• Mitigation banking is encouraged if it provides a greater ecological benefit and provides a more successful replacement of wetland functions and values.

• It applies to developers, agricultural producers or transportation departments who are required to mitigate the damage done to habitat in other areas.How it Works: Mitigation banking is authorized by the federal Clean Water Act Section 404 permit program and the Swamp-Buster provisions of the 1985 Farm Bill.

• Mitigation banking involves a formal administrative framework in which wetlands are restored, enhanced, preserved, or created expressly for the purpose of providing compensatory mitigation in advance of authorized impacts to similar resources.

More Definitions of Mitigation banking

Mitigation banking means compensating for unavoidable wetland [ or stream ] losses in advance of development actions through the sale, purchase or use of credits from a mitigation bank [ that is operating under a signed banking instrument in accordance with all applicable federal and state laws or regulations for the establishment, use and operation of mitigation banks ].

Mitigation banking means compensating for unavoidable wetland losses in advance of development

Mitigation banking means the process of restoring or creating self-sustaining functioning wetlands, or, in exceptional circumstances, preserving high-quality and threatened wetlands, as prior replacement for wetlands that are expected to be unavoidably impacted by development within a watershed or ecoregion.

Mitigation banking means compensating for unavoidable wetland or stream losses in advance of development actions

Mitigation banking means a system for providing compensatory mitigation in advance of authorized

Mitigation banking means compensating for unavoidable wetland or stream losses in advance of development actions through the sale or purchase of credits from a mitigation bank. The purpose of mitigation banks is to replace the acreage and biological, chemical, and physical functions of wetland and stream resources by quantifying the replaced acreage and function as a 'credit', which can be purchased by third parties (‘permittees’) to compensate ('debit') for unavoidable wetland losses. Advantages of mitigation banks include:

Mitigation banking means a system for providing compensatory mitigation in advance of authorized wetland impacts of development in which credits are generated through restoration, creation, and/or enhancement of wetlands, and in exceptional circumstances, preservation of adjacent wetlands, wetland buffers, and/or other aquatic resources, provided that no net loss of wetlands occurs.