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Service Description: Mitigation and Conservation banking can play significant roles in regulatory programs administered by the U.S. Army Corps of Engineers, the U.S. Fish and Wildlife Service, and NOAA's National Marine Fisheries Service (NOAA Fisheries). Banking programs reduce uncertainty and delays for all parties involved and improve the success of compensatory mitigation and conservation efforts. Project proponents in need of "compensatory mitigation" to offset unavoidable authorized impacts to regulated resources like wetlands, streams, or federally-listed species, may have the option of purchasing credits from an approved mitigation or conservation bank rather than restoring, creating, or preserving these resources on or near the development site. When authorized impacts are located within the service area of an approved mitigation or conservation bank and the bank has the appropriate number and resource type of credits available, the permittee's compensatory mitigation/conservation requirements may be met by acquiring those credits from the bank sponsor. Both mitigation and conservation banks require establishment of a formal agreement between one or more regulatory agencies (e.g., Army Corps of Engineers, U.S. Fish and Wildlife Service, NOAA Fisheries) and the bank sponsor. The bank sponsor can be a government agency, a corporation, a private landowner, a nonprofit organization or a tribe that will undertake responsibility for the restoration, creation, or conservation activities associated with the bank. The value of a bank's resources is measured in credits, which are units of measure representing the attainment of aquatic resource function or services or species/habitat conservation at the bank site.
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Copyright Text: RIBITS (Regulatory In lieu fee and Bank Information Tracking System) was developed by the U.S. Army Corps of Engineers with support from the Environmental Protection Agency, the U.S. Fish and Wildlife Service, the Federal Highway Administration, and NOAA Fisheries to provide better information on mitigation and conservation banking and in-lieu fee programs across the country. RIBITS allows users to access information on the types and numbers of mitigation and conservation bank and in-lieu fee program sites, associated documents, mitigation credit availability, service areas, as well information on national and local policies and procedures that affect mitigation and conservation bank and in-lieu fee program development and operation.
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Comments: Mitigation and Conservation banking can play significant roles in regulatory programs administered by the U.S. Army Corps of Engineers, the U.S. Fish and Wildlife Service, and NOAA's National Marine Fisheries Service (NOAA Fisheries). Banking programs reduce uncertainty and delays for all parties involved and improve the success of compensatory mitigation and conservation efforts. Project proponents in need of "compensatory mitigation" to offset unavoidable authorized impacts to regulated resources like wetlands, streams, or federally-listed species, may have the option of purchasing credits from an approved mitigation or conservation bank rather than restoring, creating, or preserving these resources on or near the development site. When authorized impacts are located within the service area of an approved mitigation or conservation bank and the bank has the appropriate number and resource type of credits available, the permittee's compensatory mitigation/conservation requirements may be met by acquiring those credits from the bank sponsor. Both mitigation and conservation banks require establishment of a formal agreement between one or more regulatory agencies (e.g., Army Corps of Engineers, U.S. Fish and Wildlife Service, NOAA Fisheries) and the bank sponsor. The bank sponsor can be a government agency, a corporation, a private landowner, a nonprofit organization or a tribe that will undertake responsibility for the restoration, creation, or conservation activities associated with the bank. The value of a bank's resources is measured in credits, which are units of measure representing the attainment of aquatic resource function or services or species/habitat conservation at the bank site.
Subject: Wetland and Mitigation banks in Washington State.
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Keywords: washington,wetlands,mitigation banks,habitat bank,environmental bank,conservation
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