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) and acreage/square feet 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 (Class 3) wetland, and with this scenario, the mitigation credits are $125,000.00/Credit; the price would be approx. $50,000.00/acre ($125,000.00 x 0.4). Credits can be sold as low as 0.01 credit or 0.1 credit depending on the mitigation bank.
Therefore, for an anticipated impact of 0.15 acres; mitigation credits will approx. cost $7,500.00 for a Class 3 impact; or for 0.25 acres of potential impact, mitigation credits will approx. cost $12,500.00.