Florida plans to increase wetland mitigation banks, and the Mitigation Banking Group is at the forefront of this exciting trend. Learn why more banks are crucial for balancing environmental preservation and economic growth
Discover key insights into the mitigation bank approval process in our latest joint report with EPIC. The Phase II analysis reveals bottlenecks and provides actionable recommendations to streamline approvals. In-depth interviews with 19 mitigation bank sponsors included.
Fungible Assets Driving Mitigation Success and Innovation in Florida In Florida, where rapid development is a constant, the urgency to strike a balance between progress and environmental preservation is palpable. Environmental offsetting emerges as the solution, ensuring that for every detrimental environmental impact, a corresponding positive action restores balance elsewhere. As industries grow and landscapes change, fungible assets like mitigation credits become essential tools in this endeavor. Through ecosystem marketplaces like mitigation banking, fungible assets play a role
In this latest blog post by Victoria Colangelo, CEO of Mitigation Banking Group, Inc., discover how the revised WOTUS rules are shaping the mitigation banking landscape. Learn why these changes may benefit landowners and the industry as a whole.
The National Environmental Banking Association (NEBA) has recently alerted senior government officials and industry that more than two years of persistent regulatory slow-downs and few Mitigation Banking Instrument (MBI) approvals by the U.S. Army Corps Mitigation Program has led to a significant backlog of projects without needed go-aheads to conserve, restore and protect. This graph displays the 419 Mitigation Banks currently awaiting approval by the Corps/IRTs across the various Districts. Some of these MBI’s have been pending for as much as
Process of Determining Mitigation Credit Need Depending on the acreage/square feet to be impacted; as well as the quality of the wetland to be impacted, will determine how many credits are needed. An analysis will be performed by an environmental consultant to seek if the condition of the wetland to be disturbed is insufficient, has minimal level of support, less than optional, or fully supports wetland & surface water functions (0-10). For example, let’s say you have 1 acre of low quality
Clean Water Act in Florida The recent ruling by the U.S. Supreme Court in Sackett v. EPA has sparked concerns about the future of wetlands protection in Tampa Bay, Florida. This decision redefines the scope of protected wetlands under the Clean Water Act, with isolated wetlands now exempt from federal protection. We explore what this decision means for Florida’s environment and the stance of various stakeholders, drawing insights from the original article by Jack Prator from the Tampa Bay
National Wetland Inventory Wetlands are vital resources for habitat and water quality. To protect them for future generations, the state and federal agencies requires people who plan to remove or add material to wetlands (or waterways) to get a permit. But how do we determine if a patch of land is a wetland? The National Wetlands Inventory (https://fwsprimary.wim.usgs.gov/wetlands/apps/wetlands-mapper/) is the best place to start for approximating where wetlands might be located. However, sometimes onsite assessment by a qualified wetland professional is
Wedgefield Florida Mitigation Credits Wetlands are within many of the parcels of the Wedgefield Neighborhood. If one is to encroach into a wetland area (dredge or fill activities), Florida Department of Environmental Protection and Orange County Permits (and mitigation credits to compensate for the functional loss) will be required for wetland impacts. Wedgefield is located in the Econ Basin, therefore, you need to purchase mitigation credits from TM Econ Mitigation Bank. Mitigation Bank pricing is approx. $125,000.00/credit. Depending on the quality (chart below)
Reserving and Purchasing Mitigation Bank Credits: A Simple and Stress-Free Guide The environmental landscape can often be complicated, but when it comes to reserving and purchasing mitigation bank credits, the process should be anything but that. With strategic planning and understanding, you can simplify this process and make it stress-free. Reservation Process: Step-by-Step Sign a Mitigation Credit Agreement: Initially, you’ll need to sign a mitigation credit agreement and provide a 10% deposit of your purchase price. Get a Reservation Letter: Next, we will issue