Advantages of Mitigation Banking

Efficiency.  The process of identifying an individual mitigation site and obtaining regulatory approval can be time-consuming and costly.  Some of the costs involved are the time and resources of professional wetland scientists, site selection and feasibility analysis, negotiations with regulatory agencies regarding mitigation plan details, design drawings and specifications, construction and oversight, post-construction maintenance and corrective actions, success criteria field measurement, and monitoring reports.  Utilizing credits from a mitigation bank obviates these issues for the site operator and facilitates the permitting process.

No Liability. When a site operator purchases mitigation credits, the mitigation bank assumes the liabilities and responsibilities for successful compensatory mitigation activities.  Long-term mitigation site management is often a chore best suited to wetland management professionals.

Regulatory Preference. Environmental regulators condone using mitigation banks because banks have a greater likelihood to successfully create, restore, and enhance wetlands, they are pre-approved for use in the permitting process, and wetland management is under way prior to wetland impacts.  Mitigation banks have a rigorously designed and regulator approved management plan, they are scientifically managed, and they allow regulators to monitor mitigation success at one mitigation bank rather than multiple mitigation sites.