Contingency Plans/Remedial Actions. In the event the Bank or a specific phase of the Bank fails to achieve the success criteria specified in Part IV, Section E, of this MBI/Permit, the Sponsor shall develop necessary contingency plans and implement appropriate remedial actions for the Bank or that phase in coordination with the MBRT. In the event the Sponsor fails to implement necessary remedial actions in a timely manner after notification by the Corps or FDEP of necessary remedial action to address any failure in meeting the success criteria, the authorizing agency(ies) will notify the Sponsor and recommend appropriate remedial actions. If the authorizing agency(ies) determines that the Bank is selling credits prior to their release or are not in compliance with the terms of this agreement, debiting of credits will immediately cease, and the authorizing agency(ies), in consultation with the MBRT and the Sponsor, will determine what remedial actions are necessary to correct the situation. As determined by the FDEP or the Chair in coordination with the MBRT and the Sponsor, if conditions at the bank site do not improve or continue to deteriorate within a reasonable time frame from the date that the need for remediation was first identified in writing to the Sponsor by FDEP or the Chair of the MBRT, the financial assurance funds required in Part III, Section D. shall be transferred to the fund manager to undertake corrective measures at the project site. At the request of the Sponsor, the MBRT will perform a final compliance visit to determine whether all success criteria have been satisfied. Upon satisfaction of the success criteria, the construction and implementation trust fund will be released to the Sponsor, and the Sponsor will be allowed to use the long-term management trust fund to implement the management plan.
Contingency Plans/Remedial Actions. In the event the HCCC ILF Program fails to 19 achieve by the specified date one or more of the performance standards identified in an 20 approved Mitigation Plan consistent with provisions in Appendix K, the Sponsor shall develop 21 necessary contingency plans and implement appropriate remedial and monitoring actions, as 22 specified in Appendix O, to attain those project objectives and performance standards. Prior to 23 their execution, proposals for the contingency plans and remediation and monitoring activities 24 must be approved by the Corps and Ecology, after consultation with the Sponsor, and the IRT.
Contingency Plans/Remedial Actions. In the event the Bank Parcel fails to achieve the success criteria described in this Instrument and the approved BPDP, the Bank Sponsor shall develop necessary contingency plans in coordination with the DWR and implement appropriate remedial actions for the Bank Parcel and the Bank. Depending on the degree of remedial actions required, the DWR may modify the monitoring period. Financial Assurances Following approval of the BPDP, the Sponsor shall provide a Performance Bond from a surety company that is rated no less than an “A-” as rated by A.M. Best. The Performance Bond amount shall be 100% of the estimated cost for implementation of the buffer restoration and/or stormwater BMP project as described in the approved BPDP, but not less than $150,000.00. Alternatively, in lieu of posting the Performance Bond, the Sponsor may elect to construct the project prior to the first credit release. After completion of the restoration/construction, a separate Performance/Maintenance Bond will be secured for 100% of the estimated cost to implement the monitoring and maintenance plan but not less than $100,000.00. The Performance/Maintenance Bond shall be in effect for a minimum of five years, and until DWR has released all mitigation credits to the Bank Sponsor. Upon DWR approval, this may be lowered each year based on the adjusted cost to complete the monitoring calculation of Mitigation credits and credit release schedule Riparian Buffer Credit may be achieved through restoration or enhancement of the DWR riparian buffer, as defined in 15A NCAC 02B .02XX (type in the applicable buffer rule here) and per 15A NCAC 02B .02XX(type in the applicable buffer mitigation rule here). Nutrient Offset Credit may be achieved through restoration or enhancement of the riparian area adjacent to surface water features. Surface water features do not have to be intermittent or perennial, nor do they have to be depicted on a USGS, NRCS, or EMC approved map. However, surface water features must be hydrologically connected and drain to jurisdictional waters that are either intermittent or perennial. The width of the restoration area begins at the most landward limit of the top of bank or the rooted herbaceous vegetation and extends landward a maximum distance of 200 feet on all sides of the surface water. The mitigation accomplished in the DWR riparian buffer, as defined in 15A NCAC 02B .02XX (type in the applicable buffer rule here) and per 15A NCAC 02B .02XX(type in the applicable buffe...
Contingency Plans/Remedial Actions. In the event the Bank, or a specific phase or portion of the Bank, fails to achieve the performance standards specified in the Mitigation Plan (Exhibit C) for two growing seasons, the Sponsor shall develop a remedial action plan before the end of the second calendar year in which the standards were not met. The remedial action plan shall be reviewed and approved in writing by the co-chair agencies prior to being implemented. The remedial action plan shall be implemented according to the schedule included in such plan. In the event the Sponsor fails to submit a plan or to implement the remedial action plan within the time specified in such plan as approved, the Bank may be subject to suspension or revocation of available mitigation credits and/or forfeiture of the financial security instruments, or other enforcement action, as allowed under the regulatory authorities of the co-chair agencies.
Contingency Plans/Remedial Actions. In the event the Bank [or a specific phase of the Bank] fails to achieve the success criteria specified in Part IV, Section E of this Banking Instrument, the Sponsor shall develop necessary contingency plans and implement appropriate remedial actions for the Bank [or that phase] in coordination with the MBRT. In the event the Sponsor fails to implement necessary remedial actions within calendar days after notification by the Corps [identify any other authorizing agency(s)] of necessary remedial action to address any failure in meeting the success criteria , the MBRT (acting through the Chair) will notify the Sponsor and the appropriate authorizing agency(ies) and recommend appropriate remedial actions. If the authorizing agency(ies) determines that the Bank is operating at a deficit, debiting of credits will immediately cease, and the authorizing agency(ies), in consultation with the MBRT and the Sponsor, will determine what remedial actions are necessary to correct the situation. As determined by the Chair in coordination with the MBRT and the Sponsor, if conditions at the bank site do not improve or continue to deteriorate within a reasonable time frame from the date that the need for remediation was first identified in
Contingency Plans/Remedial Actions. In the event the Bank or a specific phase of the Bank fails to achieve the performance standards specified in Part V, Section E of this MOA, the Sponsor shall develop necessary contingency plans and implement appropriate remedial actions for the Bank or that phase of the bank in coordination with the MBRT. In the event the Sponsor fails to implement necessary remedial actions within one growing season (November 1 of the following year) after notification by the Corps and/or DSL of necessary remedial action to address any failure in meeting the performance standards, the MBRT (acting through the co-chairs) will notify the Sponsor and the appropriate authorizing agency(ies) and recommend appropriate remedial actions including suspension/revocation of available mitigation credits. If the co-chair(s) determines that the Bank is operating at a deficit, debiting by the Sponsor of credits shall immediately cease, and the co-chair(s), in consultation with the MBRT and the Sponsor, will determine what remedial actions are necessary to correct the situation. As determined by the co- chair’s in coordination with the MBRT and the Sponsor, if conditions at the Bank site do not improve or continue to deteriorate within one growing season from the date that the need for remediation was first identified in writing to the Sponsor by the co-chair’s of the MBRT, the MBRT, (acting through the co-chair’s) shall request the escrow agent to transfer the amount necessary to correct the deficiency from the Financial Assurances to a party acceptable to the Corps and DSL, to undertake corrective measures. The Corps and DSL may also choose to suspend credit transactions until the deficiency(ies) is (are) corrected. At the written request of the Sponsor, the MBRT will perform a compliance visit to determine whether all Performance Measures have been satisfied.
