Mitigation Bank. A site, or suite of sites, where aquatic resources (e.g., wetlands, streams, riparian areas) are restored, established, enhanced, and/or preserved for the purpose of providing compensatory mitigation for impacts authorized by DA permits. In general, a mitigation bank sells compensatory mitigation credits to permittees whose obligation to provide compensatory mitigation is then transferred to the mitigation bank sponsor. It is a system of accounting for the loss and compensation of aquatic resources which can include one or more compensatory mitigation sites.
Mitigation Bank. The geographically and ecologically defined area for the creation, restoration, and enhancement of wetlands from which the applicant can purchase credits to provide required compensatory mitigation to offset unavoidable wetland impacts of their proposed project.
Mitigation Bank. Instrument--A written document, which contains specifications pertaining to establishment, operation and maintenance of a wetland mitigation bank. It shall include codification of the goals, objectives, performance standards, and operating procedures of the wetland mitigation bank,and incorporate the relevant terms and conditions of this ICA. Principal types of wetland mitigation bank Instruments are a legally binding agreement between the sponsor and the MBRT or a DA Permit issued to the sponsor.
Mitigation Bank. A system of accounting for wetland loss and compensation, which can include one or more wetland mitigation sites.
Mitigation Bank. Grantor shall have the right to establish a federal and/or state mitigation bank on and over any portion of the Mitigation Bank Parcel. Grantor shall therefore be entitled to enter into and record any additional conservation easement or other document for the purpose of establishing a mitigation bank with any permitting governmental authority subject to Xxxxxxx’s prior review of any said easement. In the event the Grantor, subsequent to this Amended and Restated Perpetual Conservation Easement, conveys a conservation easement to any Regulatory Agency as part of a requirement to establish a mitigation bank (the “MBCE”), the Regulatory Agencies shall have all the rights of Grantee to enforce the terms of this Amended and Restated Perpetual Conservation Easement and the MBCE, provided that the MBCE is not contrary to or in conflict with the rights conveyed to the Grantee for that portion of the Property encumbered by the MBCE.
