Status: Prospectus approved by USACE (June 2024), Revised Prospectus pending.
Overview
The Upper Alabama River Stream Mitigation Bank (UARMB) is a stream mitigation bank in Lowndes County, Alabama, southwest of Montgomery. The offering is stream credits generated on the bank’s streams and riparian buffers only — no land is included. Prospectus approved by USACE (June 2024), Revised Prospectus pending.
Managed by The Mitigation Banking Group, Inc., UARMB is positioned to supply compensatory stream mitigation credits for projects permitted under Sections 401 and 404 of the Clean Water Act and Section 10 of the Rivers and Harbors Act within the Upper Alabama River Watershed (HUC 03150201). Phase 1 projects 172,170 stream credits across 15,990 linear feet of restored stream channel.
Bank at a Glance
| Status | Prospectus approved by USACE (June 2024), Revised Prospectus pending. |
|---|---|
| State | Alabama |
| County | Lowndes County (southwest of Montgomery) |
| Offering | Stream credits on the streams and buffers only (land not included) |
| Watershed / HUC-8 | Upper Alabama River — HUC 03150201 |
| Mitigation Service Area | Primary Service Area: Upper Alabama River Watershed (HUC 03150201); secondary service area not disclosed |
| Regulators (state / federal) | State: Not disclosed / Federal: USACE Mobile District, Interagency Review Team (IRT) |
| Permit / instrument status & dates | Prospectus approved by USACE (June 2024), Revised Prospectus pending. Mitigation Banking Instrument (MBI) to follow. Permit / instrument number: Not disclosed |
| Credit types | Stream mitigation credits |
| Total credits (state / federal) | Phase 1 potential: 172,170 stream credits (USACE / federal); Phase II: available option (+168,000 additional potential credits). State credit split: Not disclosed |
| Credits released / available | None released yet — credit sales commence upon MBI approval (value available under NDA) |
| Investment | (value available under NDA) |
| Land included? | No — stream credits on the streams and buffers only |
| Sponsor | Private sponsor (details under NDA) |
| Prepared by | BioResources, LLC & Meanders River Restoration, Inc. |
| Listing agent | The Mitigation Banking Group, Inc. — Victoria Bruce, CEO |
| Last updated | Pro forma updated October 15, 2026 |
Credit Overview
Credits release in Corps-approved tranches tied to construction and long-term monitoring milestones, beginning with an initial release upon MBI approval. State vs. federal credit split: Not disclosed (the bank is under USACE review).
| Phase | Linear Feet | Potential Credits | Share of Phase 1 |
|---|---|---|---|
| Phase 1A | 7,240 LF | 84,276 | 49.0% |
| Phase 1B | 8,750 LF | 87,894 | 51.0% |
| Phase 1 — Total | 15,990 LF | 172,170 | 100% |
| Phase II — Available option | Not disclosed | +168,000 | Not included in current pro forma |
Phase II is an available option beyond the figures modeled below.
Service Area & Market Demand
The Upper Alabama River Watershed has historically absorbed an average of ~13,543 stream credits per year. Demand is broad-based and recurring:
- Public infrastructure & utilities — consistent purchasing from ALDOT, Alabama Power, Auburn University, and regional developers.
- Comparable banks — the neighboring McLemore Mitigation Bank has recorded 386 transactions dating to 2002; Red Eagle Mitigation Bank serves the same service area. (Both ledgers available for review.)
- Near-term drivers — Maxwell AFB and federal Infrastructure Bill projects are anticipated to generate significant credit needs.
- Regulatory pipeline — regional mining violations and new mining applications are expected to produce both retroactive and forward credit sales.
Recent Recorded Transactions (RIBITS)
The following purchases in the Primary Service Area are recorded in RIBITS, the federal government’s regulatory mitigation tracking system:
| Buyer | Credits | Type | Date |
|---|---|---|---|
| Hyundai Transformers | 7,464 | Stream | Nov 2025 |
| Maxwell Air Force Base | 462 | Stream | Sep 2025 |
| Ferroglobe USA | 95 | Stream | Apr 2026 |
At the historical absorption rate, Phase 1 credits would sell through in roughly 13 years; the pro forma models a more conservative pace.
Financial Summary
UARMB is seeking investor capital (value available under NDA) before MBI signing to fund the remaining path to Banking Instrument approval. Upon MBI issuance, and per the terms of the joint-venture agreement, the investor has the option to own and operate the bank or hold it — with credit sales projected to begin on approval. This is an entry point ahead of the value inflection that occurs at MBI issuance, in an established service area with documented, recurring credit demand.
Pro Forma Available Under NDA
Detailed financial projections, credit pricing, and revenue modeling for this bank are shared with qualified buyers and capital partners under a non-disclosure agreement.
Financial figures are projections based on the current pro forma and are subject to regulatory approval. This page is provided for informational purposes and does not constitute an offer to sell securities.
Permitting & Timeline
- June 2024 — Prospectus approved by USACE.
- Revised Prospectus — pending.
- Current — under IRT review toward approval of the Mitigation Banking Instrument, conservation easement, and final design plans.
- MBI approval — the bank is authorized to release its initial credit tranche (value available under NDA) and sell stream credits to permitted projects within its service area. Target date: Not disclosed.
Project Team
- Sponsor — Private sponsor (details under NDA)
- Mitigation Consultant — Victoria Bruce, The Mitigation Banking Group, Inc.
- Stream Design — Steve Jones, Meanders River Restoration, Inc. (Rosgen Method, Coastal Plain)
- Legal Counsel — Neil C. Johnston, Esq., Hand, Arendall, Harrison, Sale — Mobile, Alabama
- Prospectus preparation — BioResources, LLC & Meanders River Restoration, Inc.
Site Photos
Request Information
Investment inquiries are welcome at this stage. The complete investment package, available to qualified parties under NDA, includes the full pro forma, credit release schedule and pricing curve, capital structure and partnership terms, and full regulatory documentation.
Additional pertinent information: Confidentiality Agreement (NDA)
Contact Victoria Bruce: victoria@mitigationbankinginc.com · Office 407.960.5787 · Cell 407.808.2222
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About The Mitigation Banking Group, Inc.
Founded by Victoria K. Bruce, The Mitigation Banking Group, Inc. specializes in the development, sale, and marketing of mitigation banks and credits across the southeastern United States. The firm bridges the gap between buyers, sellers, and regulators, simplifying complex regulatory pathways with expertise and efficiency.
