How to become a wetland mitigation bank sponsor
How do I propose a wetland mitigation bank project?
- The first step in the certification process is to submit a
complete prospectus to the Department of
wetland mitigation banking team
and the Corps of Engineers (Corps) [if also seeking federal
- Ecology and the Corps review the
prospectus and determine whether the document is complete.
- Ecology and the Corps, as the Co-Chairs of the Interagency Review Team,
provide feedback, information, and guidance to the wetland
mitigation banking sponsor (Sponsor) to ensure everyone
understands the next step(s) of the certification
What you should know about your potential bank site
Anyone interested in setting up a bank should first gather
some preliminary technical information and research available
background information on the potential bank site:
- Find out if a
wetland delineation has been conducted on your site. If not, is
there any information available that would identify wetlands on
the site now or in the past?
- What types of wetlands exist in
- Are the soils and hydrology at the site suitable
- Any potential for cultural resources on the site?
- Is the site located on agricultural lands of long-term
Ecology has the following tools to help in locating an
appropriate bank site:
Items to think about prior to
submitting a prospectus
Along with understanding the physical and biological
conditions that make a site suitable for a bank, you should
consider other elements regarding feasibility for developing the
bank and the market opportunities:
- Do the local jurisdictions in
the watershed allow banks to be used as mitigation for wetland
- What does the site look like now and what activities
would need to be done to make this site a bank (i.e.,
enhancement, restoration, creation)?
- Is the site large enough to generate enough credits to
make it viable?
- Do you have the money to make this site into a bank
that is ecologically appropriate and sustainable?
- After construction, what type of on-going maintenance and monitoring
will the bank need?
- Do you have the qualifications to perform the actions
necessary or will you need to hire wetland consultants or
- Are you setting up
the bank for your own use or to sell the credits to make a
- If you did have a bank site with credits to sell, would
you have buyers?
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