As president of Piazza Construction in Mt. Vernon, Wash., he had more to do than worry about wetlands. Piazza s newfound expertise in building in a wetlands environment led him to look for a better way. He found it in a concept called mitigation banking, which means, in effect, trading buildable wetlands for wetlands that have been purchased specifically for preservation. It can turn the seemingly endless process of getting a permit from the U.S. Army Corps of Engineers into a simple cash transaction. No fuss, no muss just write a check for the credits.
Trading lets home builders build homes instead of replacement wetlands.
The federal government, under provisions of the Rivers and Harbors Act of 1899 and the Clean Water Act of 1986, limits conversion of wetlands into non-wetlands. Regulations also call for mitigation the building, restoration, or enhancement of wetlands or former wetlands in exchange for wetlands lost. The first point of contact with these regulations, for most builders and developers, is the process of getting an Army Corps of Engineers regional office to OK a development plan and issue a permit. But plans involving more than three acres must go through the more time-consuming individual permitting process. And new federal regulations taking effect next month will add to the permitting burden.