Mitigation banking is the preservation, enhancement, restoration or creation of a wetland, stream, or habitat conservation area which offsets, or compensates for, expected adverse impacts to similar nearby ecosystems. The goal is to replace the exact function and value of the specific wetland habitats that would be adversely affected by a proposed activity or project.
Mitigation banks provide many functional business advantages, allowing for ease of development. They allow a developer to maximize the use of a preferred development site rather than breaking up the site into sub-optimal property uses. Because mitigation bank credits are negotiated prior to development, hence prior to impact, purchasing credits from a mitigation bank decreases permitting time, while also ensuring no net loss of habitat. The cost is often lower than other alternatives. Both regulatory and long term management risk is passed from developer to mitigation banker.
SME’s Professional Wetland Scientists can help connect clients with their best options for mitigation banking. Our team can provide wetland delineations, biological assessments, and monitoring services to assist with any size mitigation banking project.
