Mitigation banking definition

Mitigation banking means compensating for unavoidable wetland or stream losses in advance of development actions through the sale, purchase or use of credits from a mitigation bank.

Mitigation banking means creating or restoring a large wetland in advance of specific projects requiring permits and mitigation. Mitigation "credits" are assigned to the functions and/or acreage restored or created in the "bank". As unavoidable project impacts are permitted in the area, credit is "debited" from the bank to meet the mitigation requirements for those permitted projects. Project impacts must still be avoided and minimized, and on-site, in-kind considerations must still be met.

Mitigation banking means compensating for unavoidable wetland [or stream] losses in advance of

Examples of Mitigation banking in a sentence

• Mitigation banking may be an acceptable form of compensatory mitigation under specific criteria designed to ensure an environmentally successful bank.

• Mitigation banking instruments are reviewed and approved by an interagency Mitigation Banking Review Team (MBRT).

• Mitigation banking and in-lieu fee (ILF) mitigation: The City may approve mitigation banking and/or in-lieu fee mitigation as a form of compensatory mitigation for wetland and habitat conservation area impacts when the provisions of this Program require mitigation and when the use of a bank/ILF Program will provide equivalent or greater replacement of critical area functions and values when compared to conventional permittee responsible mitigation.

• Mitigation banking is encouraged if it provides a greater ecological benefit and provides a more successful replacement of wetland functions and values.

• It applies to developers, agricultural producers or transportation departments who are required to mitigate the damage done to habitat in other areas.How it Works: Mitigation banking is authorized by the federal Clean Water Act Section 404 permit program and the Swamp-Buster provisions of the 1985 Farm Bill.

More Definitions of Mitigation banking

Mitigation banking means habitat protection or improvement actions taken expressly for the purpose of compensating for unavoidable losses from specific future development actions. It only includes those actions above and beyond those typically taken by congress for protection of fish and wildlife resources.

Mitigation banking means compensating for unavoidable wetland or stream losses in advance of development actions

Mitigation banking means the process of restoring or creating self-sustaining functioning wetlands, or, in exceptional circumstances, preserving high-quality and threatened wetlands, as prior replacement for wetlands that are expected to be unavoidably impacted by development within a watershed or ecoregion.

Mitigation banking means compensating for unavoidable wetland losses in advance of development

Mitigation banking means compensating for unavoidable wetland [ or stream ] losses in advance of development actions through the sale, purchase or use of credits from a mitigation bank [ that is operating under a signed banking instrument in accordance with all applicable federal and state laws or regulations for the establishment, use and operation of mitigation banks ].

Mitigation banking means compensating for unavoidable wetland or stream losses in

Mitigation banking means a system for providing compensatory mitigation in advance of authorized wetland impacts of development in which credits are generated through restoration, creation, and/or enhancement of wetlands, and in exceptional circumstances, preservation of adjacent wetlands, wetland buffers, and/or other aquatic resources, provided that no net loss of wetlands occurs.