SB 492 Brings Expanded, Cost-Effective Mitigation Credit Solutions to the Econlockhatchee Basin
As of July 1, 2025, Senate Bill 492 (SB 492) has brought meaningful changes to Florida’s wetland mitigation banking industry—particularly beneficial for projects impacting the Econlockhatchee (Econ) River Basin (19). This new legislation allows state agencies (FDEP and Water Management Districts) to permit wetland mitigation banks to service their entire awarded Mitigation Service Area (MSA), rather than being restricted to the basin where the bank is physically located.
This change eliminates the need for a Cumulative Impact Assessment when utilizing credits from mitigation banks whose service areas include the impacted basin, greatly streamlining the permitting process.
What This Means for Econ Basin Projects:
Previously, projects impacting the Econ Basin had fewer and often more costly credit options. With SB 492 now in effect, clients have expanded, more cost-effective choices.
Specifically, projects with impacts in the Econ Basin can now utilize credits from the following mitigation banks:
Farmton Mitigation Bank:
- Credit Price:
- State Credits: $120,000 per credit
- State & Federal Credits: $130,000 per credit
- Assessment Methods:
- State: Uniform Mitigation Assessment Method (UMAM)
- Federal: Wetland Rapid Assessment Procedure (WRAP)
Colbert Cameron Mitigation Bank:
- Credit Price:
- State Credits: $60,000 per credit
- State & Federal Credits: $75,000 per credit
- Assessment Methods:
- State: RATIO
- Federal: Wetland Rapid Assessment Procedure (WRAP)
Cost Savings and Efficiency for Your Project
Previously, projects impacting the Econ Basin were primarily restricted to sourcing credits from the TM Econ Mitigation Bank. Under the new provisions of SB 492, credits from Farmton and Colbert Cameron Mitigation Banks are not only viable alternatives—they offer significant cost advantages for our clients.
Next Steps:
If your project impacts the Econlockhatchee River Basin (19) and you’re interested in exploring these newly available credit options, please contact me directly. At MBG, we’re committed to finding the most efficient, cost-effective, and environmentally beneficial mitigation solutions for your specific project needs.
