MITIGATION BANKING S heri Lewin S heri@ ERM-ConsultingS ervices.com
What Y ou Need to Know Why the Regulations are important How S ervice Areas work How credits are earned Who buys these credits Boarshead Ranch Mitigation Bank
FEDERAL HIS TOR Y & RULES The Clean Waters of S ection Water Act the U.S . 404 • 1972 • Navigable • Avoid waters • Permitting • Minimize • Tributaries • Water • Compensate quality • Wetlands
S TATE HIS TOR Y & RULES Environmental Water The Mitigation Re-Organization Management Bank Rule Act 1993 Districts • Offsite • MB program • Five Districts mitigation framework • Permitting & • S ection Established Review 373.4136 • Allows private • Release • Chapter 62- sponsors of Credits 342.450 MB
REGULATION IS THE KEY Regulating Agency Public or Mitigation Private Proj ect owner Pays for MB Credit Bank Proj ect permitted & Impacts Constructed Mitigation Bank Transfers Credit Wetland
KEY COMPONENTS Credit Service Allocation Area Absorption Rate
S ERVICE AREA based on Drainage Basins or Watershed CREDIT ALLOCATION Based on Environmental Lift on Land using UMAM ABS ORPTION RATE based on competition, regulatory climate, demand
Mitigation Banks Authorized In Florida
MITIGATION BANKING S TATS Pending FL Mitigation Bank Permits 38 Authorized Banks in FL 86 National Average IRR 10% -25%
QUES TIONS ? SHERI LEWIN Sheri@ERM-ConsultingServices.com
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