Wetland Mitigation Bank photo

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 Ecology's (Ecology) wetland mitigation banking team and the Corps of Engineers (Corps) [if also seeking federal approval].
  • 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 process.

Please refer to the wetland mitigation banking rule and checklists provided below for a detailed list of information required to propose a wetland mitigation bank in Washington.

Who is likely to be a bank sponsor?

Some examples are:

  • Entrepreneurs
  • Transportation agencies and utilities
  • Local jurisdictions

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 your watershed?
  • Are the soils and hydrology at the site suitable for wetlands?
  • Any potential for cultural resources on the site?
  • Is the site located on agricultural lands of long-term commercial significance?

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 impacts?
  • 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 engineers?
  • Are you setting up the bank for your own use or to sell the credits to make a profit?
  • If you did have a bank site with credits to sell, would you have buyers? 

Back to Top